Solar Panel Cost Guide in Lumberton, TX (2023 Update)
- Lumberton Solar Installation Cost: $14,612
- 25-Year Savings: $20,707
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lumberton
Find out how much it might cost to go solar in Lumberton.
Although the national average of solar panels is $2.66 per watt, solar panels in Lumberton typically cost about 2.69. The average solar panel system size in Lumberton is around 7.8 kilowatts, meaning a cost of about $14,612 for a solar installation, or $20,895 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 equipment you want, your solar contractor and more. But, after you've paid the upfront cost of installation, the savings for most homeowners is quite good, with a net average savings of about $17,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar installer in Lumberton for a quote for your home.
Solar savings over time in Lumberton
| Year | Return on Investment |
|---|---|
| 1 years | $-13,199 |
| 3 years | $-10,374 |
| 5 years | $-7,548 |
| 7 years | $-4,723 |
| 9 years | $-1,897 |
| 11 years | $929 |
| 13 years | $3,754 |
| 15 years | $6,580 |
| 17 years | $9,405 |
| 19 years | $12,231 |
| 21 years | $15,056 |
| 23 years | $17,882 |
| 25 years | $20,707 |
Top Solar Installers in Lumberton
When switching to solar energy, many homeowners prefer to go with a solar company since handling can be a challenging project. A solar installer can also help save you money over time by offering warranties, repairs and part replacements.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Lumberton
Factors that Affect Solar Panel Costs in Lumberton
The cost of installing a solar system in Lumberton can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Lumberton, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $2,690 for each additional kilowatt you need. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Lumberton average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Lumberton homeowners opt to finance their solar panel systems to make paying for solar more affordable. While solar loans make adopting solar energy more accessible for Lumberton homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Lumberton is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different costs. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that offers the products, warranties and services you want 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 | $2.80 | $11,750 | $15,562 | 10.8 years |
| 8 kW | $2.74 | $15,365 | $21,050 | 10.5 years |
| 10 kW | $2.69 | $18,830 | $26,689 | 10.3 years |
| 12 kW | $2.64 | $22,144 | $32,479 | 10.1 years |
| 14 kW | $2.58 | $25,308 | $38,420 | 9.9 years |
| 16 kW | $2.53 | $28,320 | $44,511 | 9.7 years |
| 18 kW | $2.47 | $31,182 | $50,752 | 9.5 years |
| 20 kW | $2.42 | $33,894 | $57,145 | 9.3 years |
How to Save on Solar Panels
The solar installer you choose will impact 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:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar company. Make sure you understand how the installation process works and the completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Lumberton, TX Solar Cost FAQs
How much does it cost to install solar panels in Lumberton?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Lumberton?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 financial benefits from going solar.
Can you sell solar power back to the grid in Lumberton?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future energy 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 Lumberton?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.