Solar Panel Cost Guide in Spindale, NC (2023 Update)
- Spindale Solar Installation Cost: $12,162
- 25-Year Savings: $21,082
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Spindale
Find out what the average cost of solar panels are in Spindale.
In Spindale, solar panels cost about 2.54 per watt on average. Using this figure, a typical 6.8-kW system would cost about $12,162 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Spindale can save around $18,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a custom estimate.
Solar savings over time in Spindale
| Year | Return on Investment |
|---|---|
| 1 years | $-10,832 |
| 3 years | $-8,172 |
| 5 years | $-5,513 |
| 7 years | $-2,853 |
| 9 years | $-194 |
| 11 years | $2,466 |
| 13 years | $5,125 |
| 15 years | $7,785 |
| 17 years | $10,444 |
| 19 years | $13,104 |
| 21 years | $15,763 |
| 23 years | $18,423 |
| 25 years | $21,082 |
Top Solar Installers in Spindale
Although it's possible to install solar panels yourself, it requires extra energy and handiness. Because of that, almost all homeowners choose a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
If you'd like to go solar but still aren't certain which solar panel company to go with, here are our recommendations for providers nearby:
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 Spindale
Factors that Affect Solar Panel Costs in Spindale
The cost of installing a solar system in Spindale can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar system in Spindale, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,540 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Spindale, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Spindale is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services at different costs. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also fits within your budget.
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 | $18,051 | 9.5 years |
| 8 kW | $2.59 | $14,508 | $24,353 | 9.3 years |
| 10 kW | $2.54 | $17,780 | $30,796 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $37,382 | 9.0 years |
| 14 kW | $2.44 | $23,896 | $44,111 | 8.8 years |
| 16 kW | $2.39 | $26,741 | $50,981 | 8.6 years |
| 18 kW | $2.34 | $29,444 | $57,994 | 8.4 years |
| 20 kW | $2.29 | $32,004 | $65,149 | 8.2 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose greatly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
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 Spindale, NC Solar Cost FAQs
How much does it cost to install solar panels in Spindale?
The average cost of solar panels in Spindale 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 type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Spindale?
Solar panels aren't free in Spindale, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Spindale?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses 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 household 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.