Solar Panel Cost Guide in Greensboro, NC (2024 Update)

  • Greensboro Solar Installation Cost: $17,128
  • 25-Year Savings: $17,880
  • Payback Period: 14.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Greensboro

See how much it might cost to install solar panels in Greensboro.

In Greensboro, solar panels cost about 4 per watt on average.The average Greensboro homeowner needs a 7.0-kilowatt system, which would cost about $17,128 with the federal tax credit, or $24,493 before the 0 tax credit is applied.

The actual price you pay can be above or below the average in Greensboro based on a few factors, such as the kind of solar panels you choose and the solar company you hire.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Greensboro see about $17,000 in savings on electricity bills over 20 years.

To calculate your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Greensboro

Year Return on Investment
1 years $-15,806
3 years $-13,162
5 years $-10,518
7 years $-7,873
9 years $-5,229
11 years $-2,585
13 years $59
15 years $2,704
17 years $5,348
19 years $7,992
21 years $10,636
23 years $13,281
25 years $15,925

Top Solar Installers in Greensboro

Trying to install solar panels on your own can be a stressful undertaking, which is why getting a solar installer is a good option for many homeowners. The expertise that solar companies offer can be valuable as well, particularly if you don’t quite know what type of solar equipment would be right for your home.

There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Greensboro

Factors that Affect Solar Panel Costs in Greensboro

The cost of installing a solar system in Greensboro can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,510. There are many different solar panel brands and the one you choose also changes the cost. In many cases, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Greensboro homeowners opt to finance their solar panel systems to make paying for solar more affordable.Even though solar loans make going solar more accessible for Greensboro homeowners, they can also raise 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 installation company you select will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 $3.65 $15,332 $10,725 14.7 years
8 kW $3.58 $20,049 $14,693 14.4 years
10 kW $3.51 $24,570 $18,858 14.1 years
12 kW $3.44 $28,894 $23,219 13.9 years
14 kW $3.37 $33,022 $27,777 13.6 years
16 kW $3.30 $36,953 $32,532 13.3 years
18 kW $3.23 $40,688 $37,483 13.0 years
20 kW $3.16 $44,226 $42,630 12.7 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:

  • Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
  • Contract: Even 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 the terms of the warranty.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Greensboro, NC Solar Cost FAQs

What is the average cost of installing solar panels in Greensboro?

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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Are solar panels free in Greensboro?

A solar panel system isn’t free in Greensboro, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

How will having solar panels impact my home value?

Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

How long do solar panels last in Greensboro?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.

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