Solar Panel Cost Guide in Goldsboro, NC (2023 Update)
- Goldsboro Solar Installation Cost: $12,446
- 25-Year Savings: $18,962
- Payback Period: 9.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Goldsboro
Here's how much it might cost to make the switch to solar in Goldsboro.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Goldsboro, the typical cost of a solar system is 2.54 per watt. Since a 7.0-kW system is needed to cover the energy costs of a typical home in Goldsboro, the average price of going solar will be about $12,446 after claiming the federal solar tax credit of 30%.
These figures are only averages, and your own solar costs may look different based on your specific situation and what company you want to go with. Even with the large initial cost, the average Goldsboro homeowner can save around $17,000 on their power bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a pre-vetted solar installer in Goldsboro that can help you get a more accurate cost estimate for your home.
Solar savings over time in Goldsboro
| Year | Return on Investment |
|---|---|
| 1 years | $-11,190 |
| 3 years | $-8,677 |
| 5 years | $-6,164 |
| 7 years | $-3,652 |
| 9 years | $-1,139 |
| 11 years | $1,373 |
| 13 years | $3,886 |
| 15 years | $6,398 |
| 17 years | $8,911 |
| 19 years | $11,424 |
| 21 years | $13,936 |
| 23 years | $16,449 |
| 25 years | $18,962 |
Top Solar Installers in Goldsboro
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar company can make swapping over to solar power much easier. Some solar installers, especially local ones, can help you better understand incentives in Goldsboro, therefore optimizing your ROI.
If you're looking for a solar company in Goldsboro, the EcoWatch team has organized 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 Goldsboro
Factors that Affect Solar Panel Costs in Goldsboro
Though the average cost of a solar system in Goldsboro is $12,446, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar panel system you need for your home, 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 about $2,540. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Goldsboro to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have 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 | $15,844 | 10.3 years |
| 8 kW | $2.59 | $14,508 | $21,410 | 10.1 years |
| 10 kW | $2.54 | $17,780 | $27,118 | 9.9 years |
| 12 kW | $2.49 | $20,909 | $32,968 | 9.7 years |
| 14 kW | $2.44 | $23,896 | $38,961 | 9.5 years |
| 16 kW | $2.39 | $26,741 | $45,096 | 9.3 years |
| 18 kW | $2.34 | $29,444 | $51,373 | 9.1 years |
| 20 kW | $2.29 | $32,004 | $57,792 | 8.9 years |
How to Save on Solar Panels
There are many companies available in Goldsboro, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Goldsboro, NC Solar Cost FAQs
What is the average cost of installing solar panels in Goldsboro?
The average cost of solar panels in Goldsboro 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in Goldsboro?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
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 how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.