Solar Panel Cost Guide in Ranlo, NC (2024 Update)
- Ranlo Solar Installation Cost: $16,736
- 25-Year Savings: $20,948
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Ranlo
We break down average solar pricing in Ranlo.
The average cost of a solar panel system in Ranlo is 4 per watt.Using this figure, a typical 6.8-kW system would cost about $16,736 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary based on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Ranlo see about $18,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Ranlo
| Year | Return on Investment |
|---|---|
| 1 years | $-15,414 |
| 3 years | $-12,770 |
| 5 years | $-10,125 |
| 7 years | $-7,481 |
| 9 years | $-4,837 |
| 11 years | $-2,193 |
| 13 years | $452 |
| 15 years | $3,096 |
| 17 years | $5,740 |
| 19 years | $8,384 |
| 21 years | $11,029 |
| 23 years | $13,673 |
| 25 years | $16,317 |
Top Solar Installers in Ranlo
Many homeowners opt for a solar installer since installing solar panels by yourself can be time-consuming. The payback period on an investment in solar panels will vary based on factors like your location and energy usage, but working with a solar company can shorten that period. Your provider will be able to help you apply for incentives available in your area.
If you're looking for a solar installer in Ranlo, the EcoWatch team has compiled 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 Ranlo
Factors that Affect Solar Panel Costs in Ranlo
The cost of installing a solar system in Ranlo can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,510.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Ranlo, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Ranlo homeowners opt to finance their solar panel systems to make paying for solar more affordable.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
Finally, the company you hire to install your solar panels can affect how much it costs. Ranlo’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more 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 down 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 | $13,788 | 13.2 years |
| 8 kW | $3.58 | $20,049 | $18,777 | 12.9 years |
| 10 kW | $3.51 | $24,570 | $23,963 | 12.7 years |
| 12 kW | $3.44 | $28,894 | $29,345 | 12.4 years |
| 14 kW | $3.37 | $33,022 | $34,924 | 12.2 years |
| 16 kW | $3.30 | $36,953 | $40,700 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,672 | 11.6 years |
| 20 kW | $3.16 | $44,226 | $52,840 | 11.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Contract: Read the contract terms thoroughly to make sure you understand the overall cost, completion timeline incentives and warranties.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
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 Ranlo, NC Solar Cost FAQs
What is the average cost of installing solar panels in Ranlo?
The average cost of solar panels in Ranlo 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 such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Ranlo?
Solar panels aren’t free in Ranlo, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $970.66 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.