Solar Panel Cost Guide in Burlington, NC (Jan 2023)
- Burlington Solar Installation Cost: $12,393
- 25-Year Savings: $20,558
- Payback Period: 9.4 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Burlington
Let's have a look at the average cost of solar in Burlington.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Burlington, the typical cost of solar panels is $3 per watt. The average Burlington homeowner needs a 7.0-kilowatt system, which would cost about $12,393, or $9,171 after the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Burlington homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing a solar panel system is a sound investment. The average homeowner in Burlington can save around $18,000 on their energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Burlington
| Year | Return on Investment |
|---|---|
| 1 years | $-11,075 |
| 3 years | $-8,439 |
| 5 years | $-5,803 |
| 7 years | $-3,167 |
| 9 years | $-530 |
| 11 years | $2,106 |
| 13 years | $4,742 |
| 15 years | $7,378 |
| 17 years | $10,014 |
| 19 years | $12,650 |
| 21 years | $15,286 |
| 23 years | $17,922 |
| 25 years | $20,558 |
Top Solar Installers in Burlington
Installing solar panels on your own can be a difficult task, which is why getting a solar installation company is a good option for many homeowners. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
If you're searching for a solar company in Burlington, the EcoWatch team has organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Burlington
Factors that Affect Solar Panel Costs in Burlington
There are many factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Burlington, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Burlington to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Burlington, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.64 | $11,095 | $17,284 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,330 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,518 | 9.4 years |
| 12 kW | $2.49 | $20,909 | $35,849 | 9.2 years |
| 14 kW | $2.44 | $23,896 | $42,321 | 9.0 years |
| 16 kW | $2.39 | $26,741 | $48,936 | 8.8 years |
| 18 kW | $2.34 | $29,444 | $55,693 | 8.6 years |
| 20 kW | $2.29 | $32,004 | $62,592 | 8.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Burlington, NC Solar Cost FAQs
What is the average cost of installing solar panels in Burlington?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Burlington is currently $152,359, which means you can expect a value of about $6,247 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Burlington is a rewarding investment.
How long do solar panels last in Burlington?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.