Solar Panel Cost Guide in Wingate, NC (Mar 2023)
- Wingate Solar Installation Cost: $12,055
- 25-Year Savings: $21,437
- Payback Period: 9.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Wingate
We break down average solar pricing in Wingate.
Although the national average of solar panels is $2.66 per watt, solar panels in Wingate generally cost around 2.54. The average solar panel system size in Wingate is around 6.8 kilowatts, meaning a cost of about $12,055 for a solar installation, or $17,239 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Wingate homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $19,000 on energy bills over 20 years, many homeowners in Wingate find going solar can pay off big.
To get a free estimate from a top solar company in Wingate, you can click the button below.
Solar savings over time in Wingate
| Year | Return on Investment |
|---|---|
| 1 years | $-10,715 |
| 3 years | $-8,036 |
| 5 years | $-5,357 |
| 7 years | $-2,677 |
| 9 years | $2 |
| 11 years | $2,681 |
| 13 years | $5,361 |
| 15 years | $8,040 |
| 17 years | $10,719 |
| 19 years | $13,399 |
| 21 years | $16,078 |
| 23 years | $18,757 |
| 25 years | $21,437 |
Top Solar Installers in Wingate
Putting up solar panels yourself can be a time-consuming project, which is why hiring a solar installer is a good option for many homeowners. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be best for your home.
If you're searching for a solar company in Wingate, we've 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 (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 Wingate
Factors that Affect Solar Panel Costs in Wingate
For many Wingate homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Wingate, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Wingate, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by around $2,540 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Wingate, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your overall costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies in Wingate, and each can charge different amounts for labor and equipment. 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 offers the products, warranties and services you want and also is 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 | $18,546 | 9.4 years |
| 8 kW | $2.59 | $14,508 | $25,012 | 9.2 years |
| 10 kW | $2.54 | $17,780 | $31,620 | 9.0 years |
| 12 kW | $2.49 | $20,909 | $38,371 | 8.8 years |
| 14 kW | $2.44 | $23,896 | $45,264 | 8.6 years |
| 16 kW | $2.39 | $26,741 | $52,300 | 8.5 years |
| 18 kW | $2.34 | $29,444 | $59,477 | 8.3 years |
| 20 kW | $2.29 | $32,004 | $66,797 | 8.1 years |
How to Save on Solar Panels
The solar company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: The brand of solar panel you need to get plays a role in which company you should go with, since different companies provide different panels.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
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 Wingate, NC Solar Cost FAQs
What is the average cost of installing solar panels in Wingate?
The average cost of solar panels in Wingate 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 model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Wingate?
Solar panels aren't free in Wingate, but there are some options that can make getting them more viable, 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 Wingate have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can be compensated 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.