Are Solar Panels Worth It in North Carolina?

Solar panels have become an increasingly popular way for homeowners in North Carolina and across the country to save money on their electricity bills while also reducing their carbon footprint.

But is it worth it for homeowners in North Carolina to invest in solar panels?

The answer is a resounding yes.

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There are several reasons why solar panels are worth it for most homeowners in North Carolina. First and foremost, the cost of solar panels has dropped significantly in recent years, making them more affordable for a larger number of homeowners. According to the National Renewable Energy Laboratory, the cost of solar panels has dropped by more than 70% in the last decade, making them more accessible to a wider range of homeowners.

Another reason why solar panels are worth it for homeowners in North Carolina is the state's relatively high electricity rates. According to the U.S. Energy Information Administration, the average retail price of electricity in North Carolina was 13.31 cents per kilowatt-hour in 2020, which is above the national average of 13.31 cents per kilowatt-hour. By generating their own electricity through solar panels, homeowners in North Carolina can save money on their electricity bills and offset the cost of the solar panels over time.

Additionally, North Carolina has a good amount of sun exposure, with an average of around 4-5 peak sun hours per day, which is more than enough to generate enough electricity to power a home. The state also has a well-established solar market and incentives, such as the North Carolina Renewable Energy and Energy Efficiency Portfolio Standard, which requires utilities to generate a certain percentage of their electricity from renewable sources, including solar.

Another important point is that solar panels can increase a home's value, Solar panels have been shown to add an average of around 4.1% to the value of a home, it depend on the area, but the basic point is that they can increase your home's value, which could be beneficial if you decide to sell your home in the future.

Furthermore, investing in solar panels not only helps homeowners save money on their electricity bills but also helps to protect the environment. Solar energy is a clean, renewable source of energy that does not produce any emissions or pollutants. By generating their own electricity through solar panels, homeowners can help to reduce their carbon footprint and do their part to combat climate change.

It's worth mentioning that Solar panels are a long-term investment and it takes some time to see the return of investment but with time, the savings on electricity bills will accumulate and eventually cover the initial cost of the solar panels and installation.

In conclusion, solar panels are worth it for most homeowners in North Carolina. The cost of solar panels has dropped significantly in recent years, making them more affordable for a larger number of homeowners. Additionally, North Carolina has relatively high electricity rates, a good amount of sun exposure, and well-established solar market and incentives. Furthermore, solar panels can increase a home's value and help to protect the environment. With all that said, it is a good investment for homeowners who want to save money on their electricity bills while also reducing their carbon footprint.

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