Solar Panel Cost Guide in Carolina Shores, NC (2023 Update)
- Carolina Shores Solar Installation Cost: $11,373
- 25-Year Savings: $22,016
- Payback Period: 8.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Carolina Shores
We go over average solar pricing in Carolina Shores.
In Carolina Shores, solar panels cost about 2.54 per watt on average. The average Carolina Shores homeowner needs a 6.4-kilowatt system, which would cost about $11,379 with the federal tax credit, or $16,272 before the 30% tax credit is applied.
These figures are just averages, and how much solar costs for you will vary based on your specific situation and what company you want to go with. For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $20,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar company in Carolina Shores for a personalized estimate.
Solar savings over time in Carolina Shores
| Year | Return on Investment |
|---|---|
| 1 years | $-9,902 |
| 3 years | $-6,960 |
| 5 years | $-4,017 |
| 7 years | $-1,075 |
| 9 years | $1,867 |
| 11 years | $4,809 |
| 13 years | $7,751 |
| 15 years | $10,694 |
| 17 years | $13,636 |
| 19 years | $16,578 |
| 21 years | $19,520 |
| 23 years | $22,462 |
| 25 years | $25,404 |
Top Solar Installers in Carolina Shores
Many homeowners opt for a solar installer since figuring out how to install solar panels on your own can be hard. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our suggestions for providers nearby:
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
For many Carolina Shores homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Carolina Shores, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need, 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 $2,540. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's a good idea to include 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
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Carolina Shores is the company you hire to install your solar panel system. As with choosing a company to install new cabinets, for example, you'll have no shortage of solar installers that provide a range of services for different budgets. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $20,225 | 8.9 years |
| 8 kW | $2.59 | $14,508 | $27,251 | 8.7 years |
| 10 kW | $2.54 | $17,780 | $34,419 | 8.5 years |
| 12 kW | $2.49 | $20,909 | $41,729 | 8.3 years |
| 14 kW | $2.44 | $23,896 | $49,182 | 8.2 years |
| 16 kW | $2.39 | $26,741 | $56,777 | 8.0 years |
| 18 kW | $2.34 | $29,444 | $64,514 | 7.8 years |
| 20 kW | $2.29 | $32,004 | $72,394 | 7.7 years |
How to Save on Solar Panels
There are many companies available in Carolina Shores, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While 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 offerings before making your decision.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it 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.
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
What is the average cost of installing solar panels in Carolina Shores?
The average cost of solar panels in Carolina Shores is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Carolina Shores?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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.
Is going solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 install 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.