Solar Panel Cost Guide in Midland, NC (2024 Update)
- Midland Solar Installation Cost: $16,810
- 25-Year Savings: $19,408
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Midland
Find out how much it might cost to make the switch to solar in Midland.
The average cost of solar panels in Midland is 4 per watt.Because a 6.8-kW system is needed to cover the energy needs of a typical home in Midland, the average price of going solar will be about $16,810 after claiming the federal solar tax credit of 0.
How much you pay can go higher or lower than the average in Midland depending on several factors, such as the model of solar panels you choose and the solar contractor you hire.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $18,000 over 20 years on electricity bills.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Midland
| Year | Return on Investment |
|---|---|
| 1 years | $-15,488 |
| 3 years | $-12,844 |
| 5 years | $-10,199 |
| 7 years | $-7,555 |
| 9 years | $-4,911 |
| 11 years | $-2,267 |
| 13 years | $378 |
| 15 years | $3,022 |
| 17 years | $5,666 |
| 19 years | $8,310 |
| 21 years | $10,955 |
| 23 years | $13,599 |
| 25 years | $16,243 |
Top Solar Installers in Midland
When making the switch to solar, many homeowners prefer to hire a solar company since DIY solar panel installation can be a time-consuming project. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're on the hunt for a solar company in Midland, the EcoWatch team has put together a list of our top suggestions here:
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 Midland
Factors that Affect Solar Panel Costs in Midland
Even though the average cost of a solar system in Midland is $16,810, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar panel system you need for your home, 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 around $3,510. There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Midland have solar loans, which reduce your upfront costs of installing a solar system.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you choose will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $12,357 | 13.8 years |
| 8 kW | $3.58 | $20,049 | $16,869 | 13.6 years |
| 10 kW | $3.51 | $24,570 | $21,578 | 13.3 years |
| 12 kW | $3.44 | $28,894 | $26,483 | 13.0 years |
| 14 kW | $3.37 | $33,022 | $31,585 | 12.8 years |
| 16 kW | $3.30 | $36,953 | $36,883 | 12.5 years |
| 18 kW | $3.23 | $40,688 | $42,378 | 12.2 years |
| 20 kW | $3.16 | $44,226 | $48,069 | 12.0 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 models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
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 Midland, NC Solar Cost FAQs
How much does it cost to install solar panels in Midland?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,550 for a 5-kW system and $35,100 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 consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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 get 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.