Solar Panel Cost Guide in Concord, NC (2023 Update)
- Concord Solar Installation Cost: $12,197
- 25-Year Savings: $18,806
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Concord
Find out what the average cost of solar panel installation is in Concord.
The average cost of a solar panel system in Concord is 2.54 per watt. Since a 6.9-kW system is needed to cover the energy usage of a typical home in Concord, the average price of going solar will be about $12,197 after claiming the federal solar tax credit of 30%.
The true cost of your system can go higher or lower than the average in Concord based on a few factors, such as the kind of solar panels you choose and the solar company you hire. With typical savings of about $17,000 on energy bills over 20 years, many homeowners in Concord find installing solar panels can be quite rewarding.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Concord
| Year | Return on Investment |
|---|---|
| 1 years | $-10,957 |
| 3 years | $-8,477 |
| 5 years | $-5,996 |
| 7 years | $-3,516 |
| 9 years | $-1,036 |
| 11 years | $1,444 |
| 13 years | $3,925 |
| 15 years | $6,405 |
| 17 years | $8,885 |
| 19 years | $11,365 |
| 21 years | $13,846 |
| 23 years | $16,326 |
| 25 years | $18,806 |
Top Solar Installers in Concord
Although it's possible to install solar panels on your own, it requires extra effort and handiness. That's why the majority of homeowners choose to hire a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your family.
If you'd like to make the switch to solar but still aren't sure which solar company to go with, here are our recommendations for providers 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 Concord
Factors that Affect Solar Panel Costs in Concord
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Concord: 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 panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,540. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Concord, where sunlight is abundant, efficiency can quickly pay off. Also, 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
If paying for solar panels in cash is too expensive, solar loans are a solid choice because they lower your upfront costs and let you pay for your system over five to seven years on average. Though solar loans make adopting solar energy more accessible for Concord homeowners, they can also add to 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Concord, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 a large number of companies to choose from in Concord, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies have different brands and types of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
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 Concord, NC Solar Cost FAQs
How much does it cost to install solar panels in Concord?
This is a hard question to answer precisely, because the cost depends on many factors. Generally 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Concord?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback 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 option if you want to get the most savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.