Solar Panel Cost Guide in Southern Pines, NC (Mar 2023)
- Southern Pines Solar Installation Cost: $12,286
- 25-Year Savings: $20,784
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Southern Pines
Let's have a look at the average cost of solar panels in Southern Pines.
In Southern Pines, solar panels cost about 2.54 per watt on average. The average Southern Pines homeowner needs a 6.9-kilowatt system, which would cost about $12,286 with the federal tax credit, or $17,569 before the 30% tax credit is applied.
These figures are just averages, and how much solar costs for you will most likely differ based on factors unique to your home and what company you want to go with. Despite the high upfront cost, the average Southern Pines homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a vetted solar company in Southern Pines that can help you get a more accurate cost estimate for your home.
Solar savings over time in Southern Pines
| Year | Return on Investment |
|---|---|
| 1 years | $-10,963 |
| 3 years | $-8,318 |
| 5 years | $-5,672 |
| 7 years | $-3,026 |
| 9 years | $-381 |
| 11 years | $2,265 |
| 13 years | $4,910 |
| 15 years | $7,556 |
| 17 years | $10,202 |
| 19 years | $12,847 |
| 21 years | $15,493 |
| 23 years | $18,138 |
| 25 years | $20,784 |
Top Solar Installers in Southern Pines
Although you can install solar panels by yourself, it involves extra time and know-how. Because of that, most people choose to hire a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Southern Pines
Factors that Affect Solar Panel Costs in Southern Pines
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Southern Pines: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,540. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Southern Pines, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they lower your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Southern Pines is the company you get to install your PV system. As with choosing a company to install new cabinets, for instance, you'll have many options for solar installers that offer a range of services for different budgets. The company's size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.64 | $11,095 | $17,626 | 9.7 years |
| 8 kW | $2.59 | $14,508 | $23,785 | 9.5 years |
| 10 kW | $2.54 | $17,780 | $30,087 | 9.3 years |
| 12 kW | $2.49 | $20,909 | $36,531 | 9.1 years |
| 14 kW | $2.44 | $23,896 | $43,118 | 8.9 years |
| 16 kW | $2.39 | $26,741 | $49,846 | 8.7 years |
| 18 kW | $2.34 | $29,444 | $56,717 | 8.5 years |
| 20 kW | $2.29 | $32,004 | $63,730 | 8.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Southern Pines, NC Solar Cost FAQs
How much does it cost to install solar panels in Southern Pines?
The average cost of solar panels in Southern Pines is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Southern Pines?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.