Solar Panel Cost Guide in Concord, NC (2023 Update)
- Concord Solar Installation Cost: $12,195
- 25-Year Savings: $18,808
- Payback Period: 9.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Concord
Here's how much it might cost to make the switch to solar in Concord.
Although the national average of solar panels is $2.66 per watt, solar panels in Concord typically cost around 2.54. The average Concord homeowner needs a 6.9-kilowatt system, which would cost about $12,197 with the federal tax credit, or $17,442 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of solar panels you want, your solar contractor and more. For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $17,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Concord for a quote for your home.
Solar savings over time in Concord
| Year | Return on Investment |
|---|---|
| 1 years | $-12,092 |
| 3 years | $-11,885 |
| 5 years | $-11,679 |
| 7 years | $-11,472 |
| 9 years | $-11,265 |
| 11 years | $-11,059 |
| 13 years | $-10,852 |
| 15 years | $-10,645 |
| 17 years | $-10,439 |
| 19 years | $-10,232 |
| 21 years | $-10,025 |
| 23 years | $-9,819 |
| 25 years | $-9,612 |
Top Solar Installers in Concord
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using a solar panel installer can make switching to solar power much easier. Companies can also have access to quality options of the best solar panels and help you pick which one will be best for you.
If you're on the hunt for a solar company in Concord, we've 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
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 Concord
Factors that Affect Solar Panel Costs in Concord
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Concord: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
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 energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,540 per kilowatt in Concord. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect 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 increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. Although solar loans make going solar more accessible for Concord homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Concord is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that provide a range of services at different price points. Larger national companies usually 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 extra 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 | $16,025 | 10.2 years |
| 8 kW | $2.59 | $14,508 | $21,652 | 10.0 years |
| 10 kW | $2.54 | $17,780 | $27,420 | 9.8 years |
| 12 kW | $2.49 | $20,909 | $33,331 | 9.6 years |
| 14 kW | $2.44 | $23,896 | $39,384 | 9.4 years |
| 16 kW | $2.39 | $26,741 | $45,579 | 9.2 years |
| 18 kW | $2.34 | $29,444 | $51,917 | 9.0 years |
| 20 kW | $2.29 | $32,004 | $58,396 | 8.9 years |
How to Save on Solar Panels
There are many companies to choose from in Concord, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- 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.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
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 Concord, NC Solar Cost FAQs
What is the average cost of installing solar panels in Concord?
The average cost of solar panels in Concord 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Concord?
Leasing solar panels can be an attractive 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 way to go if you want to maximize your savings.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.