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.
In Carrboro, solar panels cost about 4 per watt on average.The average solar panel system size in Carrboro is around 7.0 kilowatts, meaning a cost of about $17,128 for a solar installation, or $24,493 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Carrboro homeowners. The cost 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.Many homeowners find installing solar panels is a solid investment. The average homeowner in Carrboro can save around $18,000 on their electricity bills over 20 years.
To receive a free estimate from a pre-vetted solar installation company in Carrboro, you can 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 choice some homeowners opt for, but it's an undertaking that can be a pain. Going with an installer can make your swap to solar power much easier. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over time.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, 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 electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,510 per kilowatt in Carrboro.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Carrboro average.
Solar Financing Terms
Many homeowners find the average cost of solar in Carrboro to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time because of interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Carrboro, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar companies have 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.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: If you’re worried about the longevity of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Carrboro, NC Solar Cost FAQs
How much does it cost to install 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 things like the model 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 Carrboro?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside 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 get the most savings.
How much can I save on power bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Carrboro, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.