Solar Panel Cost Guide in Elizabeth City, NC (2024 Update)
- Elizabeth City Solar Installation Cost: $17,044
- 25-Year Savings: $19,998
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Elizabeth City
Find out how much it might cost to install solar panels in Elizabeth City.
The national average cost of solar panels is $2.66 per watt, but in Elizabeth City it’s 4 per watt.To account for the typical energy usage of the average home in Elizabeth City, most homeowners require a 6.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,044, or $24,373 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary quite a bit depending on a few factors, such as what size system you need, your energy usage and what installation company you go with.But, once you've paid the upfront cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $19,000 over 20 years on power bills.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Elizabeth City
| Year | Return on Investment |
|---|---|
| 1 years | $-15,562 |
| 3 years | $-12,599 |
| 5 years | $-9,635 |
| 7 years | $-6,672 |
| 9 years | $-3,709 |
| 11 years | $-745 |
| 13 years | $2,218 |
| 15 years | $5,182 |
| 17 years | $8,145 |
| 19 years | $11,108 |
| 21 years | $14,072 |
| 23 years | $17,035 |
| 25 years | $19,998 |
Top Solar Installers in Elizabeth City
Many homeowners choose to use a solar panel installer since trying to install solar panels on your own can be hard. Plus, if you’d like to maximize your investment in solar power, going with a solar company can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
If you’d like to start using solar energy but still aren’t certain which solar panel installer 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
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Elizabeth City
Factors that Affect Solar Panel Costs in Elizabeth City
For many Elizabeth City homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Elizabeth City, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require 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 — cost more upfront but also tend to offer better efficiency. In a city like Elizabeth City, where sunlight is relatively 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
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Elizabeth City homeowners opt to finance their solar panel systems to make going solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Elizabeth City is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services at different price points.You may come across 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 promotions 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 | $3.65 | $15,332 | $14,999 | 12.6 years |
| 8 kW | $3.58 | $20,049 | $20,392 | 12.4 years |
| 10 kW | $3.51 | $24,570 | $25,982 | 12.2 years |
| 12 kW | $3.44 | $28,894 | $31,768 | 11.9 years |
| 14 kW | $3.37 | $33,022 | $37,751 | 11.7 years |
| 16 kW | $3.30 | $36,953 | $43,930 | 11.4 years |
| 18 kW | $3.23 | $40,688 | $50,305 | 11.2 years |
| 20 kW | $3.16 | $44,226 | $56,878 | 10.9 years |
How to Save on Solar Panels
There are a large number of companies available in Elizabeth City, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Elizabeth City, NC Solar Cost FAQs
What is the average cost of installing solar panels in Elizabeth City?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly 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 be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Elizabeth City?
You can’t get solar panels for free in Elizabeth City. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Does Elizabeth City have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Elizabeth City?
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.