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.
Although the national average of solar panels is $2.66 per watt, solar panels in Charlotte typically cost about 4.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.
Keep in mind that the figures above are only estimates based on the average energy use of Charlotte homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find going solar is a solid investment. The average homeowner in Charlotte can save around $17,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Charlotte that can help you get a more accurate cost estimate for your home.
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
When going solar, many homeowners decide to go with a solar installation company since putting up a solar system yourself can be a challenging project. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Charlotte
Factors that Affect Solar Panel Costs in Charlotte
Even though the average cost of a solar system in Charlotte is $16,767, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
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 uses, the larger your system will likely need to be. You can expect to pay about $3,510 per kilowatt in Charlotte.The brand of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Charlotte, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Charlotte, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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
The solar installer you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Different companies have various brands and types of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Charlotte, NC Solar Cost FAQs
What is the average cost of installing solar panels in Charlotte?
The average cost of solar panels in Charlotte is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real 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 Charlotte?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can you sell solar power back to the grid in Charlotte?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How long do solar panels last in Charlotte?
Even though 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 continue to use 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.