Cost of Solar Panels in North Carolina: Save on Your Energy Bills
Updated November 12, 2024 | 8 min read
North Carolina ranks as one of the top places in the US to go solar, powering over 1 Million+ homes! With more than 250+ sunny days per year, NC has plenty of sunlight to keep solar panels effective, but how much do they cost?
Fortunately, the cost of solar panels in North Carolina has decreased 53% in the last 10 years! This is in large part because North Carolina has many solar incentives & local solar programs to help residents convert to renewable energy.
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Cost of Solar Panels in North Carolina
In North Carolina, the average cost of a home solar energy system is between $11,000-$15,000 depending on the size of the system. This includes installation costs but does not include the NC solar incentives!
But don't worry; you won't have to pay the full price. The 30% federal investment tax credit (ITC) and various state and local solar incentives can save you thousands of dollars. So, when you factor in these financial benefits, your final net cost for solar will be much more affordable.
Below is a chart showing the before and after the 30% federal investment tax credit:
|
Size of system |
Average Cost |
Average Cost |
|
3 kW |
$7,680 |
$5,683 |
|
4 kW |
$10,240 |
$7,578 |
|
5 kW |
$12,800 |
$9,472 |
|
6 kW |
$15,360 |
$11,366 |
|
7 kW |
$17,920 |
$13,261 |
|
8 kW |
$20,480 |
$15,155 |
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4 Factors Affecting the Average Cost of Solar Panels in NC
Many factors contribute to NC solar panel cost, including your home system size, the solar panel quality and efficiency, available solar panel incentives, and installation costs, among others. We explain them below:
1. Solar Panel Quality & Efficiency
If you want to go solar, it's best to prioritize quality and solar efficiency.
Solar panel efficiency refers to the proportion of sunlight a particular panel can transform into usable electricity. Once the solar panel film converts sunlight into an electrical current, it sends it to your circuit breaker box and distributes the energy throughout your home.
On the other hand, quality considers the durability of materials used in producing your solar panel and other equipment.
2. System Size and Energy Usage
Most homes come with different roof sizes, angles, and energy consumption. All these determine the solar panel capacity you will need and the cost of solar panel installation.
Note that getting the right size of solar based on your energy consumption is crucial, as anything less can lead to investing in solar that's insufficient for your energy usage. However, you don't have to worry about having excessive energy as you can easily make money off that through net metering.
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3. Cost of Solar Panels in North Carolina
The average cost of installing solar panels in North Carolina typically ranges from $11,835 to $14,365. When assessed on a cost-per-watt basis, the price for solar panel installations in this state varies between $2.57 and $3.47. However, various factors, such as labor, permits, and equipment, influence the installation cost.
4. North Carolina Solar Incentives and Tax Credits
Whether you are a residential homeowner or business professional in North Carolina, you can always review different NC solar incentives and choose the ones you qualify for.
North Carolina residents can access solar saving options such as federal solar tax credits, net metering, and state and property tax exemption. Other NC solar incentives include building permit rebates and solar panel installation loan options.
Read Also: The Complete Guide to North Carolina Solar Incentives.
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How to Calculate Your Energy Use
Step 1: How Much Energy Do You Use?
Collect the kilowatt-hours (kWh) consumption data from your electricity bill. It's best to have a complete 12-month record to examine fluctuations in usage throughout the year. Energy usage typically increases during summer and winter due to the extensive use of air conditioning and heating systems.
Step 2: Calculate Your Monthly Energy Use
Add up your kWh consumption for the past 12 months and divide by 12 to find your average monthly usage. A grid-connected system will generally produce more energy in the summer when sunlight is abundant.
Step 3: Estimate Your Daily Energy Use
Divide your average monthly consumption by 30 to ascertain your daily kWh usage.
Your solar advisor is in the best position to help you get a more accurate calculation. Also, using our solar energy-saving calculator, you can learn how much you will save with solar.
Calculate how much your home can save with solar in North Carolina!
Going Solar in North Carolina
As you have seen, the cost of solar in North Carolina has reduced greatly thanks to the many NC solar incentives and tax credits. While many factors affect the cost of solar installation, you can always explore different solar-saving tips and options.
Ready to make the switch to solar energy in North Carolina? Our solar advisors are here to help you understand the ins and outs of solar installation in NC. We'll also guide you through the process of finding the perfect solar solution for your home or business.
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Why Trust EcoGen?
At EcoGen America, we take pride in the credibility of our information and ensure its accuracy by cross-referencing our data with esteemed institutions such as the U.S. Department of Energy (DOE), the Solar Energy Industries Association (SEIA), and the National Renewable Energy Laboratory (NREL). Our rigorous validation process underscores our commitment to delivering trustworthy and up-to-date solar content with editorial integrity. Our partners do not direct our editorial content. Learn more
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