Solar Panel Cost Guide in Cary, NC (Mar 2023)
- Cary Solar Installation Cost: $12,375
- 25-Year Savings: $17,723
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Cary
Let's have a look at the average cost of solar in Cary.
The national average cost of solar panels is $2.66 per watt, but in Cary it's 2.54 per watt. To cover the typical energy needs of the average home in Cary, most homeowners require a 7.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,375, or $17,696 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of equipment you choose, your solar contractor and more. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Cary can save about $16,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a custom quote.
Solar savings over time in Cary
| Year | Return on Investment |
|---|---|
| 1 years | $-11,171 |
| 3 years | $-8,763 |
| 5 years | $-6,355 |
| 7 years | $-3,947 |
| 9 years | $-1,540 |
| 11 years | $868 |
| 13 years | $3,276 |
| 15 years | $5,684 |
| 17 years | $8,092 |
| 19 years | $10,500 |
| 21 years | $12,908 |
| 23 years | $15,316 |
| 25 years | $17,723 |
Top Solar Installers in Cary
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make converting to solar power much easier. Also, if you'd like to maximize your investment in solar energy, using a solar company can help with that too. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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 Cary
Factors that Affect Solar Panel Costs in Cary
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Cary: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,540. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons 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 too expensive, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also increases your all-in costs, so it's vital to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can impact your pricing. Cary's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $14,854 | 10.7 years |
| 8 kW | $2.59 | $14,508 | $20,090 | 10.5 years |
| 10 kW | $2.54 | $17,780 | $25,468 | 10.3 years |
| 12 kW | $2.49 | $20,909 | $30,988 | 10.1 years |
| 14 kW | $2.44 | $23,896 | $36,650 | 9.9 years |
| 16 kW | $2.39 | $26,741 | $42,455 | 9.7 years |
| 18 kW | $2.34 | $29,444 | $48,402 | 9.5 years |
| 20 kW | $2.29 | $32,004 | $54,491 | 9.3 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 installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Reputation: Your solar installer should have a solid 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before you sign a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Cary, NC Solar Cost FAQs
How much does it cost to install solar panels in Cary?
The average cost of solar panels in Cary is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels completely eradicate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Cary, that will require at least a 10-kW system. Not all homes 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 long do solar panels last in Cary?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.
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.