Solar Panel Cost Guide in Half Moon, NC (2023 Update)
- Half Moon Solar Installation Cost: $11,821
- 25-Year Savings: $20,151
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Half Moon
We go over average solar pricing in Half Moon.
The national average cost of solar panels is $2.66 per watt, but in Half Moon it's 2.54 per watt. To account for the typical energy needs of the average home in Half Moon, most homeowners require a 6.7-kilowatt system. Using the figure above, a solar installation costs about $11,824, or $16,908 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and your own solar costs will most likely differ based on your energy needs and what company you choose to go with. But, after you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Half Moon
| Year | Return on Investment |
|---|---|
| 1 years | $-10,350 |
| 3 years | $-7,408 |
| 5 years | $-4,465 |
| 7 years | $-1,523 |
| 9 years | $1,419 |
| 11 years | $4,361 |
| 13 years | $7,303 |
| 15 years | $10,245 |
| 17 years | $13,188 |
| 19 years | $16,130 |
| 21 years | $19,072 |
| 23 years | $22,014 |
| 25 years | $24,956 |
Top Solar Installers in Half Moon
When going solar, many homeowners opt to hire a solar company since putting up a solar system yourself can be a time-consuming project. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy consumption, but going with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
There are several licensed solar professionals that can take care of your solar installation project. 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 Half Moon
Factors that Affect Solar Panel Costs in Half Moon
Though the average cost of a solar system in Half Moon is $11,824, your actual cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,540. There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to install 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
If paying for solar panels out of pocket is out of reach, solar loans are a popular choice because they cut back your upfront costs and let you pay for your system over five to seven years on average. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can affect how much it costs. Half Moon's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have 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 | $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
There are a large number of companies to choose from in Half Moon, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: When reading through 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 such as a system part breaking or the company going out of business.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Solar Panel Brands: The type of solar panel you want to install plays a part in which installer you should choose, since different companies provide different panels.
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 Half Moon, NC Solar Cost FAQs
How much does it cost to install solar panels in Half Moon?
The average cost of solar panels in Half Moon is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual 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.
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 install 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?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.