Solar Panels Cost 11k-20k in Hope Mills, NC | October, 2024

Solar Panels Cost $11k-$20k in Hope Mills, NC | October, 2024

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How much do solar panels cost in Hope Mills, NC in 2024?

To go solar in Hope Mills, NC in the month of October, 2024 is around $3.26/W.

For every 1000 watts (1 kW) your solar system can produce, you will have to invest, on average, $3,260 for its installation. A 5 kW solar system in Hope Mills will typically cost you $11,410 after the 30% federal tax credit. It's important to note that a larger system could be essential to fully meet your energy needs.

To the left, you have the option to select your county and find the typical roof size along with the average maximum capacity for solar panels in homes in your area. You can review the price, payback period, and 20-year average savings for a 5 kW system installed in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Hope Mills: $11,410US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Hope Mills: 6 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Hope Mills: $20,108US Average: $15,784

Solar Potential in Hope Mills

Estimated system size and solar electricity production per median viable roof in
Hope Mills.

Roof size 912sq. ft.
Capacity 12.75kW DC
Electricity 15.8kkWh AC per yr.

Electricity Costs in Hope Mills, NC & What that Means for Your Solar Panel Pricing

Hope Mills energy consumers typically use 1,077 kWh monthly, with an average monthly bill of $151.70. Small homes, including condos and bungalows, are also included in the numbers indicated in the previous sentence.

The average rate for electricity in Hope Mills, NC in October, 2024 is 14.09¢ per kWh.

Typical energy users in Hope Mills must have a solar panel system of 9 kW or higher to take care of their full electricity needs. After incentives, a 9 kW solar system costs around $20,538.

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Average solar panel costs by system size in Hope Mills

Shown on the left side, you'll see a comprehensive cost summary of the various sizes of solar panel systems installed in Hope Mills. Naturally, a bigger solar system implies a higher initial expense, but it also leads to greater electricity savings and more substantial income tax credits.

In the solar panel cost calculator located below and to the right, you can view a cost and benefit breakdown to match an average $151.70electric bill in Hope Mills. For a more accurate estimate, swap the $151.70 with your usual electricity bill amount.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,053 a year
Est. Price
$11,410
Savings from a 5kWthis system
  • Est. yearly production 7,520 kWh
  • Est. monthly savings $88
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 2.35 tons a year
  • Equivalent to planting 108 trees a year
  • Equivalent to driving 5,829 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,263 a year
Est. Price
$13,692
Savings from a 6kWthis system
  • Est. yearly production 9,024 kWh
  • Est. monthly savings $105
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 2.83 tons a year
  • Equivalent to planting 130 trees a year
  • Equivalent to driving 6,994 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,474 a year
Est. Price
$15,974
Savings from a 7kWthis system
  • Est. yearly production 10,528 kWh
  • Est. monthly savings $123
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 3.3 tons a year
  • Equivalent to planting 151 trees a year
  • Equivalent to driving 8,160 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,684 a year
Est. Price
$18,256
Savings from a 8kWthis system
  • Est. yearly production 12,032 kWh
  • Est. monthly savings $140
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 3.77 tons a year
  • Equivalent to planting 173 trees a year
  • Equivalent to driving 9,326 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,895 a year
Est. Price
$20,538
Savings from a 9kWthis system
  • Est. yearly production 13,536 kWh
  • Est. monthly savings $152
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 4.08 tons a year
  • Equivalent to planting 187 trees a year
  • Equivalent to driving 10,098 mi less a year

Hope Mills Solar Panel Installation Incentives & Rebates | 2024

Rural small business and farm owners might benefit from the REAP Grant, which could cover 80% to 100% of their photovoltaic or wind energy installation expenses. Think you fall into this category? Confirm your qualification with our REAP Grant eligibility tool.

A 30% federal tax credit is available to most homeowners for residential solar installations, which helps make solar energy a sensible choice in various regions in the United States. Moreover, there are a number of state and local efforts designed to further promote the uptake of solar energy.

Multiple utilities and governmental organizations in North Carolina offer 10 solar rebate and incentive programs.

Solar incentives in NC

Duke Energy - NC Solar Rebate Program

Value:Up to $50,000

Any Duke Energy Carolinas/Progress customer who installs a new solar photovoltaic system may be entitled to a rebate. The rebate amount is based on the rated capacity of the system. The rebate program's annual budget covers up to 10 MW of solar energy. 5,000 kW of the total budget is reserved for residential customers, while 2,500 kW is reserved for nonprofits. Additional information is available from the Duke Energy website.

Lumbee River EMC - Residential Weatherization Loan Program

Value:Up to $17,000

Residential customers of the Lumbee River Electric Membership Corporation may be entitled to special financing on energy efficiency improvement projects. Available loan offers and eligible projects will vary from time to time. Currently, financing may be obtained for ductwork, windows, water heating, geothermal pumps, and insulation/weatherization. The maximum available principal is $17,000 at market-rate interest. Loans will be secured either with a cosigner or using a deed of trust as collateral. Standard credit checks apply. Additional information is available from the LREMC website.

Piedmont EMC - Residential Solar and Energy Efficiency Loan Program

Value:Varies

Residential and business Piedmont Electric Membership Corporation customers may be eligible for special financing on new solar water heaters or photovoltaic systems. Loans may be available for other energy efficiency improvements. The maximum available principal for a single loan is $10,000 at 5% interest, to be repaid over seven years. Additional information and a directory of banking and lending partners are available from PEMC's website.

PSNC Energy (Gas) - Green Building Rate Discount

Value:Varies

PSNC offers special incentive rates for home and business customers whose property meets sustainable construction standards. Commercial facilities that have official LEED certification from the US Green Building Council and which are currently charged from Rate Schedule 125 will have a standing discount applied to their bills. To qualify, the property owner should submit a statement from the building's engineer attesting to low energy usage. Homes that have ENERGY STAR certification and which are currently using Rate Schedule 101 can switch to Schedule 102 rates that have the discount already applied. To qualify, homeowners should submit a copy of their ENERGY STAR certificate. Additional information is available from the PSNC website.

Haywood EMC - Residential Heat Pump and Weatherization Loan Program

Value:Varies

Homeowners in the Haywood EMC service area may be entitled to special financing on energy efficiency improvements. Eligible projects for a loan will vary from time to time. Currently, loans may fund insulation/weatherization, windows, central/room HVAC, generators, water heaters, heat pumps, ENERGY STAR certified appliances, and new solar PV/HVAC/water heaters. The maximum available principal is $35,000 at variable APR. As of 2021, interest is 3.90% on a 120-month repayment plan. Standard credit checks apply. Additional information is available from the HEMC website.

South River EMC - Solar Water Heating Rebate Program

Value:Varies

Residential and business customers of the South River Electric Membership Corporation may be entitled to rebates on new solar water heaters. The rebate amount will depend on the size and rated capacity of solar collectors. To qualify, both the solar panels and the heating module should meet Solar Rating and Certification Corporation (SRCC) standards. The system should be interconnected to the grid and have safety controls to prevent both overheating and freezing. Once a customer purchases and installs their system, they have 90 days to schedule a final utility inspection and thus claim their rebate. Additional information is available from the SREMC website.

Renewable Energy and Energy Efficiency Portfolio Standard

Value:Varies

North Carolina has both a renewable portfolio standard and an energy efficiency portfolio standard; together, they are referred to as "REPS". As of 2021, standard benchmarks require at least 12.5% of the state's retail energy to be generated from renewable sources. At least 60% of standard investment must be through new renewable energy; the remainder can be used for energy efficiency projects. Carve-outs require renewable investment to include a required proportion of solar and poultry/swine waste technologies. Compliance is measured through a Renewable Energy Credit (REC) system pegging a fixed amount of electricity to a variable dollar value. To meet their portion of the standard, utilities must either purchase credits from customers through net metering or generate them using their own renewable energy facilities. Credits expire after three years. Additional information is available from the North Carolina Utilities Commission website.

Blue Ridge EMC - Net Metering

Value:Varies

Residential customers of the Blue Ridge Electric Membership Corporation may be eligible for solar or wind net metering. Hydroelectric net metering may be available for systems rated below 25 kW. Parties to a net metering contract will be compensated for their net excess generation (NEG) at the full retail rate; however, they may be subject to higher facilities charges and minimum bills. Additional information is available from the BREMC website.

Four-County EMC - Residential Energy Efficiency Rebate Program

Value:Varies

Residential customers of the Four-County Electric Membership Corporation may be entitled to rebates on large appliances. Available rebate offers will vary from time to time. Currently, a flat $50 incentive may be claimed for new fridge/freezers, washer/dryers, dishwashers, and heat pumps at or over 16 SEER. It does not matter whether the appliance is completely new or if it will replace an older unit. To apply, proof of purchase is required. Additional information is available from the FCEMC website.

NC GreenPower Production Incentive

Value:Varies

NOTE: Applications are no longer accepted for small solar devices. NC GreenPower is a public incentive program administered by the state government in partnership with private utilities. The program effectively creates a large-scale power purchasing agreement (PPA) for owners of solar, wind, biomass, and hydroelectric systems not participating in a net metering contract. Participants will receive compensation for the energy they produce and export to the grid at a fixed per-kilowatt rate. Rate schedules depend on what technology is used to generate the energy. Additional information is available through the NC GreenPower website.

Are solar panels worth it in North Carolina?

If your goal is to maintain your home well past the payback period of your solar system, solar panels are an excellent choice in Hope Mills. A 5 kW system in Hope Mills, NC will enable you to save the average homeowner, on average, $24,998 over a 20 period and the average break even point is 6 years.

The cost of not having solar panels in Hope Mills, NC

The absence of solar panels or an alternative energy backup means that you forgo the savings noted earlier and depend on your electric utility for electricity. Complete reliance on your utility provider is not always ideal, as recent examples in the news have shown.

Residents in Hope Mills encounter roughly 1.04 outages per year. Typically, outages have an average duration of 102.74 minutes. However, during significant events such as equipment failure, hurricanes or wildlife damage, these times can drastically increase.

A solar panel system, with or without a backup battery, could help mitigate the effects of future outages you might experience.

Power Outages

Currently, 0 customers are being tracked in Cumberland County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Hope Mills, NC?

Your Energy Needs - Larger solar panel systems have a higher upfront cost, but the cost per watt decreases. For most consumers, setting up a system that can produce enough power to eliminate their entire electric bill is advantageous, providing significant savings.

Make & Model - Solar panels, like many other products, are offered in various makes and models. Your installer’s system preferences might necessitate selecting a highly rated installer. The selection of superior materials can substantially better the long-term experience for buyers.

Solar Panel Type - There's a good reason why monocrystalline panels are now considered the industry standard. Although they are more expensive, they provide increased energy. Many installers use panels constructed of this material.

Your Property - Each property and home is one of a kind. Trees, sloped land, or other barriers can increase the difficulty of installing solar panels. Most solar installers nowadays leverage satellite imagery to evaluate your home and integrate these factors into the first cost estimate.

Labor Rates - The varied employee wages paid by companies result in costs that consumers end up paying . Businesses often get higher reviews for their services and customer service when they pay higher wages.

Permitting & Interconnection - Permitting and utility interconnection fees differ locally and will impact your installation cost. Quality installers will factor these costs into your initial quotes to prevent unexpected expenses.

See what solar panels cost in other NC cities

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Who are the best solar installers in Hope Mills?

Freedom Forever

Temecula, CA(800) 685-1850

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Eagle Solar and Light

Birmingham, AL(205) 202-2208

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Reparation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of solar arrays.
  • Auditing of energy requirements for independent energy generation.

8MSolar

Wake Forest, NC(919) 372-0315

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Reparation of solar arrays.

Yes Solar Solutions

Cary, NC(919) 925-4707

Services

  • Monitoring of independent energy generation.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.

Powur PBC

Del Mar, CA(866) 467-6987

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Micrometer Engineering

Scottsdale, AZ(602) 790-5749

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Renu Energy Solutions

Charlotte, NC(336) 565-7291

Services

  • Installation of solar arrays.
  • Reparation of batteries.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

IonSOLAR

Provo, UT(888) 781-7074

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

SolFarm Solar co.

Asheville, NC(828) 332-3003

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Go Solar Power

Boca Raton, FL(800) 530-9597

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Auditing of energy requirements for independent energy generation.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Reparation of solar arrays.
  • Installation of solar arrays.

Solar Energy World

Elkridge CDP, MD(866) 856-4580

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.

Entero Energy

Austin, TX(512) 551-0742

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Consulting on all things solar related.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Cape Fear Solar Systems

Wilmington, NC(910) 409-5533

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of solar arrays.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Sigora Solar

Charlottesville, VA(434) 465-6192

Services

  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

SunVolt Electric

Boone, NC(828) 773-2008

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

PE Solar

Tempe, AZ(480) 264-0690

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

NC Solar Now

Raleigh, NC(919) 833-9096

Services

  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

R&C Construction Solar

Greer, SC(888) 748-9165

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Reparation of solar arrays.
  • Installation of solar arrays.

Precision Renewables

Snyderville CDP, UT(435) 602-4120

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Atomic Solar Energy

Burnsville, NC(866) 704-1187

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Hope Mills, NC Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Hope Mills, NC as of October, 2024 is $3.26/W. The cost of installing a 5 kW solar panel system in Hope Mills, NC is about $11,410 post federal tax credit.
  • If you live in North Carolina, you can find 10 rebates and incentives through different utilities and government agencies. Moreover, nearly everyone is eligible for the 30% federal income tax credit.
  • Although paying in cash offers the most savings, numerous financing options for solar panels now exist that are financially sensible. Many installers will include information about their financing partners in the initial quotes they provide.
  • Yes, in Hope Mills, NC, the average payback period for 5 kW solar panels is 6 years, resulting in average electricity savings of $24,998 over 20 years.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01