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.
In Carolina Shores, solar panels cost about 4 per watt on average.Using this figure, a typical 6.4-kW system would cost about $15,716 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more.Many homeowners find installing solar panels is a solid investment. The average homeowner in Carolina Shores can save around $20,000 on their electricity bills over 20 years.
To receive a free quote from a top solar installation company in Carolina Shores, you can click the button below.
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
Many homeowners decide to hire a solar panel company since installing solar panels yourself can be hard. Another great thing about choosing a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Carolina Shores
Factors that Affect Solar Panel Costs in Carolina Shores
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Carolina Shores: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,510. The brand of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Carolina Shores to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.However, the interest on solar loans also increases your all-in costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Carolina Shores is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services for different budgets.The company’s size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices 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 | $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
The solar installer you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Carolina Shores, NC Solar Cost FAQs
How much does it cost to install solar panels in Carolina Shores?
The average cost of solar panels in Carolina Shores is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Carolina Shores?
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 property 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 financial benefits from going solar.
How will having solar panels impact the value of my home?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can 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 get 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.