Solar Panel Cost Guide in Greenville, NC (Oct 2022)

  • Greenville Solar Installation Cost: $12,428
  • 25-Year Savings: $21,146
  • Payback Period: 9.2 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Greenville

Find out what the average cost of solar panel installation is in Greenville.

The average cost of a solar system in Greenville is $3 per watt. Using this figure, a typical 7.0 would cost about $12,428 before the 30% federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average Greenville homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $18,000 on power bills over 20 years, many homeowners in Greenville find going solar can pay off big.

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

Solar savings over time in Greenville

Year Return on Investment
1 years $-11,085
3 years $-8,399
5 years $-5,713
7 years $-3,027
9 years $-341
11 years $2,344
13 years $5,030
15 years $7,716
17 years $10,402
19 years $13,088
21 years $15,774
23 years $18,460
25 years $21,146

Top Solar Installers in Greenville

Installing solar panels by yourself can be a challenging project, which is why using a solar installer is a good option for many homeowners. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be right for you.

If you'd like to go solar but still aren't certain which solar panel installer to go with, here are our recommendations for providers nearby:

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 (coming 2022)

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 Greenville

Factors that Affect Solar Panel Costs in Greenville

For many Greenville homeowners, the decision to install a solar energy system rests 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 greatly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,540 per kilowatt in Greenville. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Greenville, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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

For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Greenville, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in Greenville is the company you get to install your solar panel system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services for different budgets. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 $2.64 $11,095 $17,741 9.6 years
8 kW $2.59 $14,508 $23,940 9.4 years
10 kW $2.54 $17,780 $30,280 9.2 years
12 kW $2.49 $20,909 $36,763 9.1 years
14 kW $2.44 $23,896 $43,388 8.9 years
16 kW $2.39 $26,741 $50,155 8.7 years
18 kW $2.34 $29,444 $57,064 8.5 years
20 kW $2.29 $32,004 $64,116 8.3 years

Solar Incentives in Greenville

Name Duke Energy - NC Solar Rebate Program
Website Visit here
More Info Click here

Name Property Tax Abatement for Solar Electric Systems
More Info Click here

Name Active Solar Heating and Cooling Systems Exemption
More Info Click here

Name Duke Energy Progress - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name EnergyUnited (Electric) Residential Energy Efficiency Program
Website Visit here
More Info Click here

Name NC GreenPower Production Incentive
Website Visit here
More Info Click here

Name Local Option - Financing Program for Renewable Energy and Energy Efficiency
Incentive Amount
More Info Click here

Name Local Option - Green Building Incentives
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:

  • Installation Process: When making the switch to solar energy, it's necessary to keep an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project completion timeline.
  • Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
  • Warranty: If you're worried about the durability of your solar panels, checking your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Solar Panel Brands: Different companies will carry different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.

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 (coming 2022)

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 Greenville, NC Solar Cost FAQs

How much does it cost to install solar panels in Greenville?

This is a difficult question to answer exactly, because the cost depends on many factors. Broadly 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.

Is cost the most important thing to keep in mind when buying solar panels?

Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

How will installing solar panels impact my property value?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Greenville is currently $150,085, which means you can look forward to a value of about $6,153 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Greenville is a worthwhile investment.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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.

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