Solar Panel Cost Guide in Randleman, NC (2024 Update)
- Randleman Solar Installation Cost: $16,982
- 25-Year Savings: $20,625
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Randleman
Let’s have a look at the average cost of solar in Randleman.
The average cost of a solar panel system in Randleman is 4 per watt.To cover the typical energy usage of the average home in Randleman, most homeowners require a 6.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,982, or $24,284 before the federal solar tax credit of 0 is applied.
The true cost of your system can be higher or lower than the average in Randleman depending on a few factors, such as the model of solar panels you choose and the solar company you hire.For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $18,000 in savings on electricity bills over 20 years.
To get a free estimate from a top solar installation company in Randleman, you can click the button below.
Solar savings over time in Randleman
| Year | Return on Investment |
|---|---|
| 1 years | $-15,585 |
| 3 years | $-12,792 |
| 5 years | $-9,999 |
| 7 years | $-7,206 |
| 9 years | $-4,413 |
| 11 years | $-1,619 |
| 13 years | $1,174 |
| 15 years | $3,967 |
| 17 years | $6,760 |
| 19 years | $9,553 |
| 21 years | $12,347 |
| 23 years | $15,140 |
| 25 years | $17,933 |
Top Solar Installers in Randleman
Trying to put up solar panels on your own can be a dangerous undertaking, which is why using a solar installation company is a good option for many homeowners. Another great thing about going with a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Randleman:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Randleman
Factors that Affect Solar Panel Costs in Randleman
There are several factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar system in Randleman, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by about $3,510 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Randleman offer solar loans, which reduce your upfront costs of installing a solar system.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies operating in Randleman, and each can charge varying amounts for labor and equipment.Additionally, some companies in Randleman know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $13,240 | 13.4 years |
| 8 kW | $3.58 | $20,049 | $18,047 | 13.2 years |
| 10 kW | $3.51 | $24,570 | $23,050 | 12.9 years |
| 12 kW | $3.44 | $28,894 | $28,249 | 12.6 years |
| 14 kW | $3.37 | $33,022 | $33,646 | 12.4 years |
| 16 kW | $3.30 | $36,953 | $39,238 | 12.1 years |
| 18 kW | $3.23 | $40,688 | $45,028 | 11.9 years |
| 20 kW | $3.16 | $44,226 | $51,014 | 11.6 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your overall costs, but also the kinds 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 take into account, such as:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Make sure your solar company 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 EcoWatch.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Randleman, NC Solar Cost FAQs
What is the average cost of installing solar panels in Randleman?
The average cost of solar panels in Randleman 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 like the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration 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.
Does Randleman have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.