Solar Panel Cost Guide in Mills River, NC (2024 Update)
- Mills River Solar Installation Cost: $16,863
- 25-Year Savings: $20,967
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Mills River
Let’s take a look at the average cost of solar panels in Mills River.
Although the national average of solar panels is $2.66 per watt, solar panels in Mills River typically cost around 4.Since a 6.9-kW system is needed to cover the energy costs of a typical home in Mills River, the average price of going solar will be about $16,863 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Mills River homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on power bills.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Mills River
| Year | Return on Investment |
|---|---|
| 1 years | $-15,441 |
| 3 years | $-12,598 |
| 5 years | $-9,755 |
| 7 years | $-6,913 |
| 9 years | $-4,070 |
| 11 years | $-1,227 |
| 13 years | $1,616 |
| 15 years | $4,459 |
| 17 years | $7,302 |
| 19 years | $10,145 |
| 21 years | $12,988 |
| 23 years | $15,830 |
| 25 years | $18,673 |
Top Solar Installers in Mills River
Although you can install solar panels yourself, it takes extra labor and handiness. That's why most people choose to go with a solar panel installer. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar installer in Mills River, 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 Mills River
Factors that Affect Solar Panel Costs in Mills River
The cost of installing a solar system in Mills River can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,510. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Mills River, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Mills River to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.It’s wise to factor 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Mills River, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.The company’s size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and better 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 | $13,666 | 13.2 years |
| 8 kW | $3.58 | $20,049 | $18,615 | 13.0 years |
| 10 kW | $3.51 | $24,570 | $23,760 | 12.7 years |
| 12 kW | $3.44 | $28,894 | $29,101 | 12.5 years |
| 14 kW | $3.37 | $33,022 | $34,639 | 12.2 years |
| 16 kW | $3.30 | $36,953 | $40,374 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,305 | 11.7 years |
| 20 kW | $3.16 | $44,226 | $52,433 | 11.4 years |
How to Save on Solar Panels
There are a large number of companies available in Mills River, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Contract: It’s important to read your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Solar Panel Brands: The brand of solar panel you need to get plays a part in which company you should go with, since different companies have access to different panels.
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 Mills River, NC Solar Cost FAQs
How much does it cost to install solar panels in Mills River?
The average cost of solar panels in Mills River is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Mills River?
Solar panels aren’t free in Mills River, 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.
Is going solar worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.