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.To cover the typical energy needs of the average home in Charlotte, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs around $17,540, or $25,082 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and the cost of going solar for you will differ based on your specific situation and what company you want to go with.With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Charlotte find installing solar panels has a decent ROI.
You can click the button below to get connected with a vetted solar installer in Charlotte that can help you get a more accurate cost estimate for your home.
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
When going solar, many homeowners choose to hire a solar installer since installing solar panels yourself can be a difficult project. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
If you’d like to go solar but still aren’t certain which solar system company to go with, here are our suggestions for providers in Charlotte:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Charlotte
Factors that Affect Solar Panel Costs in Charlotte
Although the average cost of a solar system in Charlotte is $17,540, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the price of solar panels 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 largely based on your home’s energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by about $4,060 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Charlotte offer solar loans, which reduce your upfront costs of installing solar.Even though solar loans make going solar more accessible for Charlotte homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can play a role in determining how much you pay. Charlotte’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion 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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Charlotte, MI Solar Cost FAQs
How much does it cost to install solar panels in Charlotte?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Charlotte?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels eliminate my electricity bills?
It is possible to eradicate 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 roofs that can accommodate 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 should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.