Are Solar Panels Worth it in North Carolina?
Updated July 30, 2024 | 7 min read
Are solar panels worth it in North Carolina? With over 1.5 million homes nationwide converting to solar, it's a question many NC homeowners are asking. Discover how solar panels can lower your energy bills, and see if you qualify for free solar installation in North Carolina. Plus, learn about the generous NC solar incentives that can make going solar even more affordable.
With more than 250+ sunny days per year and nation-leading solar incentives, North Carolina ranks among the top 5 best places to go solar in the US! Read on to learn more or enter your zip code to see exactly which solar incentives you qualify for!
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Why North Carolina is Ideal for Solar
To properly evaluate if solar panels are worth it in North Carolina, having the fundamental knowledge of solar panel programs in the state is important. Here are some quick facts about solar panels in NC:
North Carolina has an Abundance of Sunshine
NC exceeds the national average with 250+ sunny days in a year. Moreover, four of the state's most populous metros, Greensboro, Charlotte, Wilmington, and Raleigh, are among the US sunniest cities. This implies that NC has the right conditions to maximize solar panel efficiency throughout the year.
Generous NC Solar Incentives
The average cost of a North Carolina home solar system is between $11,000 - $14,000. However, there are many NC solar incentives to help reduce the cost of going solar and eliminate installation costs. These include the federal solar tax credit, net metering, state property tax exemption, and others. You can check the full NC solar incentives here.
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How Much Can You Save with Solar in NC?
The financial benefits of solar in North Carolina extend beyond just lowering your monthly electric bill. Let's delve into some of the other ways solar panels can save you money and add value to your home.
Energy Costs in North Carolina
The amount you can save with solar panels in North Carolina depends on several factors, including:
System Size
The larger your solar panel system, the more electricity it can generate, and the more you can potentially save on your energy bills. The average system size in NC is around 6 kilowatts (kW).
Electricity Rates
North Carolina's electricity rates are relatively low compared to other states, but they are still rising. The higher your electricity rate, the more valuable your solar energy becomes.
Net Metering
North Carolina has a favorable net metering policy, which means you can sell excess electricity you generate back to the grid for credits. This can significantly offset your energy costs.
Home Energy Usage
The more electricity you use, the more you can potentially save with solar panels.
Available Sunlight
While NC is sunny, variations in sunlight hours throughout the year can affect your energy production and savings.
Estimating Your Savings
Let's look at a hypothetical example:
- Average System Size: 6 kW
- Average Electricity Rate: $0.12/kWh (Duke Energy)
- Annual Energy Usage: 12,000 kWh
- Estimated Annual Savings: $1,440
(Note: These are estimates and actual savings may vary.)
Addressing Common Concerns
- Maintenance Costs: Solar panels require very little maintenance, typically just an annual cleaning. Maintenance costs are minimal compared to the potential savings.
- System Degradation: Solar panels do degrade slightly over time, but most manufacturers offer warranties of 25 years or more. The degradation rate is usually less than 1% per year.
Important Considerations
While the above calculations provide a general idea, the best way to determine your potential savings is to get a personalized quote from a reputable solar installer. They can assess your specific energy needs and design a system that maximizes your savings.
Don't forget to factor in the available NC solar incentives, which can significantly reduce your upfront costs and further enhance your savings
Improved Home Value
"Do solar panels increase house value?" Yes, solar panel installation can increase your NC home's property worth, although that will vary based on your property location.
According to the National Energy Laboratory, for every $1 saved on utility bills, you increase your home value by $20. That is, if the solar system helps you save $500 per year, you will have a $10,000 increase in your home evaluation.
Get started with your free NC Solar Savings quote!
Solar Pay Back Period in NC
Another advantage of solar panel installation is that it eventually covers its own bill. How long does it take for solar panels to pay for themselves in North Carolina?
On average, it takes 10-12 to earn your initial investment back on solar panel system installation in NC. However, you need to consider important factors such as your home orientation, average monthly energy consumption, roof shading, system size, and others. Check the estimate with a solar panel cost calculator or request a free solar saving quote.
Going Solar in North Carolina
Based on the benefits of using solar panels in North Carolina, there is no doubt that solar power is a worthy investment in NC. It saves electricity costs, improves your property value, and enables you to contribute to a green and sustainable environment.
At EcoGen, America, we're here to help you explore all of your solar options and save money on your transisiton to solar energy. Contact us today to get a customized quote for your home or business. Our local solar experts are always available to provide you with the best options.
Enter your zip code below to see which Solar incentives you qualify for!
Do I Qualify?
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Yes! North Carolina receives more than 250+ sunny days per year, making solar panels an efficient energy solution, year-round! See more pros & cons to solar in NC.
Want to see how much you could save with solar in North Carolina?
Use our Free Solar Savings Calculator to see your potential savings by switching to solar.