Solar Panel Cost Guide in Carrboro, NC (Mar 2023)
- Carrboro Solar Installation Cost: $12,393
- 25-Year Savings: $20,644
- Payback Period: 9.4 Years
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Updated March 14, 2023
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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 2.54 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 $17,722 before 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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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?
This is a difficult question to answer precisely, because the cost depends on many 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Carrboro?
Solar panels aren't free in Carrboro, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels completely eradicate my power bills?
It is possible to eliminate 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 check with 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 what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.