Solar Panel Cost Guide in Lumberton, TX (2024 Update)
- Lumberton Solar Installation Cost: $18,087
- 25-Year Savings: $20,709
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Lumberton
Find out what the average cost of solar panels are in Lumberton.
The national average cost of solar panels is $2.66 per watt, but in Lumberton it’s 3 per watt.To account for the typical energy needs of the average home in Lumberton, most homeowners require a 7.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $18,087, or $25,864 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Lumberton homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Lumberton can save about $17,000 on their power bills over 20 years.
Click the button below to get connected to a highly rated solar company in your area for a custom quote.
Solar savings over time in Lumberton
| Year | Return on Investment |
|---|---|
| 1 years | $-16,788 |
| 3 years | $-14,191 |
| 5 years | $-11,594 |
| 7 years | $-8,997 |
| 9 years | $-6,400 |
| 11 years | $-3,802 |
| 13 years | $-1,205 |
| 15 years | $1,392 |
| 17 years | $3,989 |
| 19 years | $6,586 |
| 21 years | $9,183 |
| 23 years | $11,780 |
| 25 years | $14,378 |
Top Solar Installers in Lumberton
Putting up solar panels yourself can be a dangerous task, which is why using a solar installer is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
If you're on the hunt for a solar company in Lumberton, the EcoWatch team has put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Lumberton
Factors that Affect Solar Panel Costs in Lumberton
For many Lumberton homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Lumberton, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also increases your total costs, so it’s crucial to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you choose will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that offers the products, warranties and services you want and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.46 | $14,545 | $12,766 | 13.3 years |
| 8 kW | $3.40 | $19,021 | $17,395 | 13.1 years |
| 10 kW | $3.33 | $23,310 | $22,209 | 12.8 years |
| 12 kW | $3.26 | $27,413 | $27,211 | 12.5 years |
| 14 kW | $3.20 | $31,329 | $32,398 | 12.3 years |
| 16 kW | $3.13 | $35,058 | $37,773 | 12.0 years |
| 18 kW | $3.06 | $38,601 | $43,333 | 11.8 years |
| 20 kW | $3.00 | $41,958 | $49,081 | 11.5 years |
How to Save on Solar Panels
There are a lot of companies available in Lumberton, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Different companies will have different brands and models of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Lumberton, TX Solar Cost FAQs
How much does it cost to install solar panels in Lumberton?
The average cost of solar panels in Lumberton is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct 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, solar panels can last 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 level 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.