Solar Panel Cost Guide in Carrboro, NC (2024 Update)
- Carrboro Solar Installation Cost: $17,128
- 25-Year Savings: $17,788
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Carrboro
We break down average solar pricing in Carrboro.
The average cost of a solar panel system in Carrboro is 4 per watt.Because a 7.0-kW system is needed to cover the energy consumption of a typical home in Carrboro, the average price of going solar will be about $17,128 after claiming the federal solar tax credit of 0.
These figures are only estimates, and the cost of going solar for you will vary based on your energy needs and what company you want to go with.Many homeowners find going solar is a rewarding investment. The average homeowner in Carrboro can save about $18,000 on their energy bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Carrboro
| Year | Return on Investment |
|---|---|
| 1 years | $-15,731 |
| 3 years | $-12,938 |
| 5 years | $-10,145 |
| 7 years | $-7,351 |
| 9 years | $-4,558 |
| 11 years | $-1,765 |
| 13 years | $1,028 |
| 15 years | $3,822 |
| 17 years | $6,615 |
| 19 years | $9,408 |
| 21 years | $12,201 |
| 23 years | $14,994 |
| 25 years | $17,788 |
Top Solar Installers in Carrboro
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring an installer can make converting to solar power much easier. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you’d like to go solar but still aren’t certain which solar company to go with, here are our suggestions for providers 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 Carrboro
Factors that Affect Solar Panel Costs in Carrboro
The cost of installing a solar system in Carrboro can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most significant 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 energy your household uses, the larger your system will likely need to be. You can expect to pay about $3,510 per kilowatt in Carrboro.The brand and kind of equipment you choose for your solar system can raise or lower 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Carrboro homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s important to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can affect the cost. Carrboro’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that provides the products, warranties and services you’re looking for and also is within your budget.
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 | $13,103 | 13.5 years |
| 8 kW | $3.58 | $20,049 | $17,864 | 13.2 years |
| 10 kW | $3.51 | $24,570 | $22,821 | 13.0 years |
| 12 kW | $3.44 | $28,894 | $27,975 | 12.7 years |
| 14 kW | $3.37 | $33,022 | $33,326 | 12.4 years |
| 16 kW | $3.30 | $36,953 | $38,873 | 12.2 years |
| 18 kW | $3.23 | $40,688 | $44,617 | 11.9 years |
| 20 kW | $3.16 | $44,226 | $50,557 | 11.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Carrboro, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
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 Carrboro, NC Solar Cost FAQs
What is the average cost of installing solar panels in Carrboro?
The average cost of solar panels in Carrboro 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 stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Carrboro?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on electricity 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.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.