Solar Panel Cost Guide in Spring Lake, NC (2024 Update)
- Spring Lake Solar Installation Cost: $16,952
- 25-Year Savings: $20,630
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Spring Lake
We go over average solar pricing in Spring Lake.
The national average cost of solar panels is $2.66 per watt, but in Spring Lake it’s 4 per watt.The average solar panel system size in Spring Lake is around 6.9 kilowatts, meaning a cost of about $16,952 for a solar installation, or $24,241 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of equipment you want, your solar contractor and more.But, once you've paid the upfront cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Spring Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-15,481 |
| 3 years | $-12,539 |
| 5 years | $-9,596 |
| 7 years | $-6,654 |
| 9 years | $-3,712 |
| 11 years | $-770 |
| 13 years | $2,172 |
| 15 years | $5,114 |
| 17 years | $8,057 |
| 19 years | $10,999 |
| 21 years | $13,941 |
| 23 years | $16,883 |
| 25 years | $19,825 |
Top Solar Installers in Spring Lake
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make switching to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you hire a solar contractor as well, which can save you more money over time.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Spring Lake
Factors that Affect Solar Panel Costs in Spring Lake
The cost of installing a solar system in Spring Lake can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Spring Lake, 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 consumption, which you can gauge by looking at past power bills. Your total cost can increase by around $3,510 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the Spring Lake average.
Solar Financing Terms
Many homeowners find the average cost of solar in Spring Lake to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time due to interest.You’ll have to consider the long-term cost of loans, including the amount of 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you pick will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Spring Lake know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.65 | $15,332 | $13,277 | 13.4 years |
| 8 kW | $3.58 | $20,049 | $18,095 | 13.1 years |
| 10 kW | $3.51 | $24,570 | $23,111 | 12.9 years |
| 12 kW | $3.44 | $28,894 | $28,323 | 12.6 years |
| 14 kW | $3.37 | $33,022 | $33,731 | 12.4 years |
| 16 kW | $3.30 | $36,953 | $39,336 | 12.1 years |
| 18 kW | $3.23 | $40,688 | $45,137 | 11.9 years |
| 20 kW | $3.16 | $44,226 | $51,135 | 11.6 years |
How to Save on Solar Panels
The solar company you go with will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Contract: Before signing a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Spring Lake, NC Solar Cost FAQs
What is the average cost of installing solar panels in Spring Lake?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Spring Lake?
Solar panels aren’t free in Spring Lake, 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 further reduce the cost.
Does Spring Lake have a net metering program?
Most states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Spring Lake?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.