Solar Panel Cost Guide in Wadesboro, NC (Mar 2023)
- Wadesboro Solar Installation Cost: $12,073
- 25-Year Savings: $20,225
- Payback Period: 9.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Wadesboro
See how much it might cost to make the switch to solar in Wadesboro.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wadesboro, the average cost of a solar system is 2.54 per watt. Because a 6.8-kW system is needed to cover the energy costs of a typical home in Wadesboro, the average price of going solar will be about $12,073 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of equipment you choose, your solar contractor and more. For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Wadesboro see about $18,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar company in your area for a customized estimate.
Solar savings over time in Wadesboro
| Year | Return on Investment |
|---|---|
| 1 years | $-10,781 |
| 3 years | $-8,197 |
| 5 years | $-5,613 |
| 7 years | $-3,029 |
| 9 years | $-445 |
| 11 years | $2,139 |
| 13 years | $4,722 |
| 15 years | $7,306 |
| 17 years | $9,890 |
| 19 years | $12,474 |
| 21 years | $15,058 |
| 23 years | $17,642 |
| 25 years | $20,225 |
Top Solar Installers in Wadesboro
Many homeowners decide to use a solar installation company since installing solar panels by yourself can be time-consuming. The expertise that solar companies provide can be valuable as well, especially if you don't quite know what brand of solar equipment you need.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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 Wadesboro
Factors that Affect Solar Panel Costs in Wadesboro
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Wadesboro: 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 a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,540. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Wadesboro, where sunlight is 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
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Wadesboro, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Wadesboro is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that provide a range of services for different budgets. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $17,426 | 9.7 years |
| 8 kW | $2.59 | $14,508 | $23,519 | 9.5 years |
| 10 kW | $2.54 | $17,780 | $29,755 | 9.4 years |
| 12 kW | $2.49 | $20,909 | $36,132 | 9.2 years |
| 14 kW | $2.44 | $23,896 | $42,652 | 9.0 years |
| 16 kW | $2.39 | $26,741 | $49,315 | 8.8 years |
| 18 kW | $2.34 | $29,444 | $56,119 | 8.6 years |
| 20 kW | $2.29 | $32,004 | $63,066 | 8.4 years |
How to Save on Solar Panels
The solar panel company you go with will impact 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 consider, such as:
- 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 likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
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 Wadesboro, NC Solar Cost FAQs
How much does it cost to install solar panels in Wadesboro?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Wadesboro?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Wadesboro?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to 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.