Solar Panel Cost Guide in Charlotte, MI (2024 Update)
- Charlotte Solar Installation Cost: $17,540
- 25-Year Savings: $21,549
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Charlotte
See how much it might cost to switch to solar power in Charlotte.
The average cost of a solar panel system in Charlotte is 4 per watt.The average solar panel system size in Charlotte is around 6.2 kilowatts, meaning a cost of about $17,540 for a solar installation, or $25,082 before the 0 federal solar tax credit is applied.
The true price you pay can be above or below the average in Charlotte depending on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $21,000 in savings on utility bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Charlotte
| Year | Return on Investment |
|---|---|
| 1 years | $-16,286 |
| 3 years | $-13,779 |
| 5 years | $-11,271 |
| 7 years | $-8,764 |
| 9 years | $-6,257 |
| 11 years | $-3,749 |
| 13 years | $-1,242 |
| 15 years | $1,266 |
| 17 years | $3,773 |
| 19 years | $6,280 |
| 21 years | $8,788 |
| 23 years | $11,295 |
| 25 years | $13,803 |
Top Solar Installers in Charlotte
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Taking advantage of a solar company can make converting to solar power much easier. The expertise that solar installers offer can be invaluable as well, especially if you aren’t sure what brand of solar equipment would be right for your home.
If you're searching for a solar company in Charlotte, the EcoWatch team has compiled a list of our top suggestions here:
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Charlotte
Factors that Affect Solar Panel Costs in Charlotte
For many Charlotte homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Charlotte, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Charlotte, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by around $4,060 for each additional kilowatt you need.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Charlotte average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Charlotte, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible.Even though solar loans make going solar more accessible for Charlotte homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you get to install your solar system can affect how much it costs. Charlotte’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $15,017 | 13.5 years |
| 8 kW | $4.14 | $23,191 | $20,478 | 13.3 years |
| 10 kW | $4.06 | $28,420 | $26,166 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $32,081 | 12.8 years |
| 14 kW | $3.90 | $38,196 | $38,223 | 12.5 years |
| 16 kW | $3.82 | $42,744 | $44,593 | 12.2 years |
| 18 kW | $3.74 | $47,064 | $51,191 | 12.0 years |
| 20 kW | $3.65 | $51,156 | $58,015 | 11.7 years |
How to Save on Solar Panels
There are a large number of companies available in Charlotte, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Charlotte, MI Solar Cost FAQs
What is the average cost of installing solar panels in Charlotte?
The average cost of solar panels in Charlotte is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Charlotte?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels completely eradicate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Charlotte, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.