Solar Panel Cost Guide in Summerfield, NC (2023 Update)
- Summerfield Solar Installation Cost: $12,393
- 25-Year Savings: $17,636
- Payback Period: 10.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Summerfield
Find out what the average cost of solar panels are in Summerfield.
The average cost of a solar panel system in Summerfield is 2.54 per watt. The average solar panel system size in Summerfield is around 7.0 kilowatts, meaning a cost of about $12,393 for a solar installation, or $17,722 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more. But, after you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $16,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Summerfield
| Year | Return on Investment |
|---|---|
| 1 years | $-11,191 |
| 3 years | $-8,789 |
| 5 years | $-6,387 |
| 7 years | $-3,985 |
| 9 years | $-1,582 |
| 11 years | $820 |
| 13 years | $3,222 |
| 15 years | $5,625 |
| 17 years | $8,027 |
| 19 years | $10,429 |
| 21 years | $12,832 |
| 23 years | $15,234 |
| 25 years | $17,636 |
Top Solar Installers in Summerfield
Putting up solar panels yourself can be a stressful undertaking, which is why using a solar installer is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're looking for a solar installer in Summerfield, the EcoWatch team has organized a list of our top suggestions here:
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 Summerfield
Factors that Affect Solar Panel Costs in Summerfield
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Summerfield: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,540 per kilowatt in Summerfield. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Summerfield, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Summerfield to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in paying more over time due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies in Summerfield, and each can charge varying amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $14,751 | 10.7 years |
| 8 kW | $2.59 | $14,508 | $19,952 | 10.5 years |
| 10 kW | $2.54 | $17,780 | $25,295 | 10.3 years |
| 12 kW | $2.49 | $20,909 | $30,781 | 10.1 years |
| 14 kW | $2.44 | $23,896 | $36,409 | 9.9 years |
| 16 kW | $2.39 | $26,741 | $42,180 | 9.7 years |
| 18 kW | $2.34 | $29,444 | $48,092 | 9.5 years |
| 20 kW | $2.29 | $32,004 | $54,147 | 9.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose greatly affects 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: Before signing a contract with a solar company, make sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
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 Summerfield, NC Solar Cost FAQs
What is the average cost of installing solar panels in Summerfield?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Summerfield?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Summerfield, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.