Solar Panel Cost Guide in Charlotte, NC (2024 Update)
- Charlotte Solar Installation Cost: $16,767
- 25-Year Savings: $18,668
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Charlotte
Let’s have a look at the average cost of solar panels in Charlotte.
The average cost of a solar system in Charlotte is 4 per watt.The average Charlotte homeowner needs a 6.8-kilowatt system, which would cost about $16,767 with the federal tax credit, or $23,977 before the 0 tax credit 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 solar system you choose, your solar contractor and more.Even with the large initial cost, the average Charlotte homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the positives of solar.
To get a free estimate from a vetted solar company in Charlotte, you can click the button below.
Solar savings over time in Charlotte
| Year | Return on Investment |
|---|---|
| 1 years | $-15,445 |
| 3 years | $-12,801 |
| 5 years | $-10,157 |
| 7 years | $-7,513 |
| 9 years | $-4,868 |
| 11 years | $-2,224 |
| 13 years | $420 |
| 15 years | $3,064 |
| 17 years | $5,709 |
| 19 years | $8,353 |
| 21 years | $10,997 |
| 23 years | $13,641 |
| 25 years | $16,286 |
Top Solar Installers in Charlotte
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar company can make your swap to solar power much easier. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Charlotte
Factors that Affect Solar Panel Costs in Charlotte
There are several factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,510.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Charlotte, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Charlotte, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s vital to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Charlotte is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for instance, you’ll have many options for solar installers that provide a range of services for different budgets.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $3.65 | $15,332 | $11,749 | 14.2 years |
| 8 kW | $3.58 | $20,049 | $16,058 | 13.9 years |
| 10 kW | $3.51 | $24,570 | $20,564 | 13.6 years |
| 12 kW | $3.44 | $28,894 | $25,267 | 13.3 years |
| 14 kW | $3.37 | $33,022 | $30,166 | 13.1 years |
| 16 kW | $3.30 | $36,953 | $35,261 | 12.8 years |
| 18 kW | $3.23 | $40,688 | $40,554 | 12.5 years |
| 20 kW | $3.16 | $44,226 | $46,042 | 12.2 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Charlotte, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Charlotte, NC Solar Cost FAQs
How much does it cost to install solar panels in Charlotte?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, 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 Charlotte?
Leasing solar panels can be an attractive choice, as it usually 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Does Charlotte have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.