Solar Panel Cost Guide in Greenville, NC (2024 Update)
- Greenville Solar Installation Cost: $17,164
- 25-Year Savings: $21,153
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Greenville
Find out what the average cost of solar panel installation is in Greenville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Greenville, the average cost of solar panels is 4 per watt.The average solar panel system size in Greenville is around 7.0 kilowatts, meaning a cost of about $17,164 for a solar installation, or $24,545 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs may look different based on factors unique to your home and what company you go with.For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $18,000 in savings on electricity bills over 20 years.
To get a free quote from a top solar company in Greenville, you can click the button below.
Solar savings over time in Greenville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,700 |
| 3 years | $-12,771 |
| 5 years | $-9,842 |
| 7 years | $-6,914 |
| 9 years | $-3,985 |
| 11 years | $-1,056 |
| 13 years | $1,873 |
| 15 years | $4,801 |
| 17 years | $7,730 |
| 19 years | $10,659 |
| 21 years | $13,588 |
| 23 years | $16,516 |
| 25 years | $19,445 |
Top Solar Installers in Greenville
Installing solar panels on your own can be a dangerous task, which is why hiring a solar installer is a good option for many homeowners. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.
If you’d like to switch to solar energy but still aren’t sure which solar 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
See all of the solar companies in Greenville
Factors that Affect Solar Panel Costs in Greenville
For many Greenville homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Greenville, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel 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 nearly $3,510. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Greenville average.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Even though solar loans make going solar more accessible for Greenville homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Greenville, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.You may see national solar installers that have lower prices due to 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 major players.
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 | $13,504 | 13.3 years |
| 8 kW | $3.58 | $20,049 | $18,399 | 13.0 years |
| 10 kW | $3.51 | $24,570 | $23,490 | 12.8 years |
| 12 kW | $3.44 | $28,894 | $28,778 | 12.5 years |
| 14 kW | $3.37 | $33,022 | $34,262 | 12.3 years |
| 16 kW | $3.30 | $36,953 | $39,943 | 12.0 years |
| 18 kW | $3.23 | $40,688 | $45,820 | 11.8 years |
| 20 kW | $3.16 | $44,226 | $51,894 | 11.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When looking over 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 the company going out of business.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: The kind of solar panel you want to install plays a role in which company you should choose, since different companies provide different panels.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Greenville, NC Solar Cost FAQs
How much does it cost to install solar panels in Greenville?
The average cost of solar panels in Greenville is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Greenville?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is it worth going solar in Greenville?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates 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 home 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.