Solar Panel Cost Guide in Carrboro, NC (Nov 2022)

  • Carrboro Solar Installation Cost: $12,393
  • 25-Year Savings: $20,644
  • Payback Period: 9.4 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Carrboro

Find out how much it might cost to go solar in Carrboro.

The average cost of solar panels in Carrboro is $3 per watt. To cover the typical energy needs of the average home in Carrboro, most homeowners require a 7.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,393, or $9,171 after the federal solar tax credit of 30% is applied.

Bear in mind that the figures above are only estimates based on the average Carrboro homeowner. 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. But, after you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on electricity bills.

To get a free estimate from a highly rated solar installation company in Carrboro, you can click the button below.

Solar savings over time in Carrboro

Year Return on Investment
1 years $-11,071
3 years $-8,428
5 years $-5,785
7 years $-3,142
9 years $-500
11 years $2,143
13 years $4,786
15 years $7,429
17 years $10,072
19 years $12,715
21 years $15,358
23 years $18,001
25 years $20,644

Top Solar Installers in Carrboro

Although you can install solar panels yourself, it requires extra time and know-how. That's why the majority of homeowners choose to go with a solar panel installer. The expertise that solar companies offer can be valuable as well, especially if you don't quite know what kind of solar equipment you need.

If you're searching for a solar installer in Carrboro, the EcoWatch team has compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Carrboro

Factors that Affect Solar Panel Costs in Carrboro

Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Carrboro: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.

Solar Equipment

One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,540 per kilowatt in Carrboro. There are several different solar panel brands and the one you choose also affects the cost. Typically, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Most solar installers in Carrboro have solar loans, which reduce the initial cost of installing solar panels. However, the interest on solar loans also increases your all-in costs, so it's vital to include that in your estimate 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

The solar installation company you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Carrboro have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 $2.64 $11,095 $17,340 9.8 years
8 kW $2.59 $14,508 $23,405 9.6 years
10 kW $2.54 $17,780 $29,611 9.4 years
12 kW $2.49 $20,909 $35,960 9.2 years
14 kW $2.44 $23,896 $42,452 9.0 years
16 kW $2.39 $26,741 $49,085 8.8 years
18 kW $2.34 $29,444 $55,861 8.6 years
20 kW $2.29 $32,004 $62,779 8.4 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:

  • Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Carrboro, NC Solar Cost FAQs

How much does it cost to install solar panels in Carrboro?

This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly 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 cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in Carrboro?

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 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 financial benefits from going solar.

How much can I save on energy bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $947.83 per year.

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 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 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.

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