Solar Panel Cost Guide in Carolina Shores, NC (2024 Update)
- Carolina Shores Solar Installation Cost: $15,716
- 25-Year Savings: $22,016
- Payback Period: 11.8 Years
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Average Cost of Solar Panels in Carolina Shores
Find out what the average cost of installing solar panels is in Carolina Shores.
The national average cost of solar panels is $2.66 per watt, but in Carolina Shores it’s 4 per watt.The average Carolina Shores homeowner needs a 6.4-kilowatt system, which would cost about $15,716 with the federal tax credit, or $22,474 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of going solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what company you go with.Despite the significant upfront cost, the average Carolina Shores homeowner can save around $20,000 on their power bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a vetted solar company in your area for a custom quote.
Solar savings over time in Carolina Shores
| Year | Return on Investment |
|---|---|
| 1 years | $-14,245 |
| 3 years | $-11,303 |
| 5 years | $-8,361 |
| 7 years | $-5,418 |
| 9 years | $-2,476 |
| 11 years | $466 |
| 13 years | $3,408 |
| 15 years | $6,350 |
| 17 years | $9,293 |
| 19 years | $12,235 |
| 21 years | $15,177 |
| 23 years | $18,119 |
| 25 years | $21,061 |
Top Solar Installers in Carolina Shores
Putting up solar panels by yourself can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. Another good thing about choosing a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Carolina Shores
Factors that Affect Solar Panel Costs in Carolina Shores
There are many criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the price of a solar panel system in Carolina Shores, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $3,510 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Carolina Shores, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Carolina Shores, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.Though solar loans make switching to solar energy more accessible for Carolina Shores 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you choose will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Carolina Shores have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.65 | $15,332 | $15,988 | 12.2 years |
| 8 kW | $3.58 | $20,049 | $21,710 | 12.0 years |
| 10 kW | $3.51 | $24,570 | $27,629 | 11.8 years |
| 12 kW | $3.44 | $28,894 | $33,744 | 11.5 years |
| 14 kW | $3.37 | $33,022 | $40,056 | 11.3 years |
| 16 kW | $3.30 | $36,953 | $46,565 | 11.1 years |
| 18 kW | $3.23 | $40,688 | $53,270 | 10.8 years |
| 20 kW | $3.16 | $44,226 | $60,172 | 10.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
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
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Carolina Shores, NC Solar Cost FAQs
How much does it cost to install solar panels in Carolina Shores?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,550 for a 5-kW system and $35,100 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. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Carolina Shores?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to 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 savings from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses 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 household 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.