Solar Panel Cost Guide in Hampstead, NC (2024 Update)
- Hampstead Solar Installation Cost: $16,546
- 25-Year Savings: $20,784
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Hampstead
Find out what the average cost of installing solar panels is in Hampstead.
The national average cost of solar panels is $2.66 per watt, but in Hampstead it’s 4 per watt.To account for the typical energy usage of the average home in Hampstead, most homeowners require a 6.7-kilowatt system. Using the figure above, a solar installation costs around $16,546, or $23,661 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of solar panels you choose, your solar contractor and more.With typical savings of about $18,000 on energy bills over 20 years, many homeowners in Hampstead find investing in solar has a decent ROI.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Hampstead
| Year | Return on Investment |
|---|---|
| 1 years | $-15,075 |
| 3 years | $-12,133 |
| 5 years | $-9,191 |
| 7 years | $-6,249 |
| 9 years | $-3,306 |
| 11 years | $-364 |
| 13 years | $2,578 |
| 15 years | $5,520 |
| 17 years | $8,462 |
| 19 years | $11,405 |
| 21 years | $14,347 |
| 23 years | $17,289 |
| 25 years | $20,231 |
Top Solar Installers in Hampstead
When making the switch to solar, many homeowners prefer to use a solar installer since installing a solar system yourself can be a challenging project. Also, if you’d like to maximize your investment in solar, opting for a solar installer can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Hampstead
Factors that Affect Solar Panel Costs in Hampstead
The cost of installing a solar system in Hampstead can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,510. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Hampstead offer solar loans, which reduce your upfront costs of installing solar.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Hampstead, and each can charge varying amounts for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for 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 | $3.65 | $15,332 | $13,854 | 13.1 years |
| 8 kW | $3.58 | $20,049 | $18,865 | 12.9 years |
| 10 kW | $3.51 | $24,570 | $24,072 | 12.6 years |
| 12 kW | $3.44 | $28,894 | $29,477 | 12.4 years |
| 14 kW | $3.37 | $33,022 | $35,077 | 12.1 years |
| 16 kW | $3.30 | $36,953 | $40,875 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,868 | 11.6 years |
| 20 kW | $3.16 | $44,226 | $53,059 | 11.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies have different brands and types of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
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 Hampstead, NC Solar Cost FAQs
How much does it cost to install solar panels in Hampstead?
The average cost of solar panels in Hampstead is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Hampstead?
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 can’t take advantage of 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 savings from going solar.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $972.85 per year.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.