Solar Panel Cost Guide in Greenville, NC (2023 Update)
- Greenville Solar Installation Cost: $12,428
- 25-Year Savings: $21,146
- Payback Period: 9.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Greenville
Find out what the average cost of solar panel installation is in Greenville.
In Greenville, solar panels cost about 2.54 per watt on average. Since a 7.0-kW system is needed to cover the energy costs of a typical home in Greenville, the average price of going solar will be about $12,428 after claiming the federal solar tax credit of 30%.
These figures are just averages, and your own solar costs will look different based on your energy needs and what company you go with. For many homeowners, the upfront investment in solar is worth paying. On average Greenville homeowners see about $18,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Greenville for a quote for your home.
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 dangerous task, which is why using a solar installation company is a good option for many homeowners. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Greenville
Factors that Affect Solar Panel Costs in Greenville
There are several criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Greenville, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Greenville to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Greenville is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that provide a range of services at different price points. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $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 |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies carry different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Before signing a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar panel company. Make sure you understand how the installation process will go and 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
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 $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Should I 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 don't have access to many solar incentives. Also your property 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.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $961.20 per year.
What solar power system size is right for 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 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 get between 20 and 35 panels to account for 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.