Solar Panel Cost Guide in Half Moon, NC (2023 Update)
- Half Moon Solar Installation Cost: $11,824
- 25-Year Savings: $20,148
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Half Moon
Let's take a look at the average cost of solar panels in Half Moon.
While the national average of solar panels is $2.66 per watt, solar panels in Half Moon typically cost around 2.54. Using this figure, a typical 6.7-kW system would cost about $11,824 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar can vary based on multiple factors, such as what size system you need, your energy usage and what company you go with. But, after you've paid the initial cost of installation, the payback for most homeowners is quite good, with a net average savings of about $18,000 over 20 years on utility bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Half Moon
| Year | Return on Investment |
|---|---|
| 1 years | $-10,545 |
| 3 years | $-7,987 |
| 5 years | $-5,429 |
| 7 years | $-2,872 |
| 9 years | $-314 |
| 11 years | $2,244 |
| 13 years | $4,802 |
| 15 years | $7,360 |
| 17 years | $9,917 |
| 19 years | $12,475 |
| 21 years | $15,033 |
| 23 years | $17,591 |
| 25 years | $20,148 |
Top Solar Installers in Half Moon
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of a solar company can make converting to solar power much easier. Some solar companies, particularly local ones, can help you make the most of incentives in Half Moon, optimizing your ROI.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Half Moon
Factors that Affect Solar Panel Costs in Half Moon
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Half Moon: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,540. 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 opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Half Moon average.
Solar Financing Terms
Many homeowners find the average cost of solar in Half Moon to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating in Half Moon, and each can charge different amounts for labor and equipment. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $17,759 | 9.6 years |
| 8 kW | $2.59 | $14,508 | $23,963 | 9.4 years |
| 10 kW | $2.54 | $17,780 | $30,309 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $36,798 | 9.1 years |
| 14 kW | $2.44 | $23,896 | $43,429 | 8.9 years |
| 16 kW | $2.39 | $26,741 | $50,202 | 8.7 years |
| 18 kW | $2.34 | $29,444 | $57,117 | 8.5 years |
| 20 kW | $2.29 | $32,004 | $64,174 | 8.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a sound 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Half Moon, NC Solar Cost FAQs
What is the average cost of installing solar panels in Half Moon?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Half Moon?
You can't get solar panels for free in Half Moon. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Half Moon?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption 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 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.