Solar Panel Cost Guide in Hillsborough, NC (2024 Update)
- Hillsborough Solar Installation Cost: $17,128
- 25-Year Savings: $21,415
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Hillsborough
Find out how much it might cost to go solar in Hillsborough.
In Hillsborough, solar panels cost about 4 per watt on average.The average Hillsborough homeowner needs a 7.0-kilowatt system, which would cost about $17,128 with the federal tax credit, or $24,493 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Hillsborough homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $18,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Hillsborough that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hillsborough
| Year | Return on Investment |
|---|---|
| 1 years | $-15,805 |
| 3 years | $-13,161 |
| 5 years | $-10,517 |
| 7 years | $-7,873 |
| 9 years | $-5,228 |
| 11 years | $-2,584 |
| 13 years | $60 |
| 15 years | $2,704 |
| 17 years | $5,348 |
| 19 years | $7,993 |
| 21 years | $10,637 |
| 23 years | $13,281 |
| 25 years | $15,925 |
Top Solar Installers in Hillsborough
Many homeowners opt for a solar panel installer since trying to install solar panels yourself can be hard. Another good thing about using a top solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
There are a number of licensed solar professionals that can help you install your solar panels. 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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Hillsborough
Factors that Affect Solar Panel Costs in Hillsborough
There are many factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
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, you can expect your total to increase by about $3,510. There are many different solar panel brands and the one you pick also changes the cost. Generally, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get 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 too expensive, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only 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 securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating in Hillsborough, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to 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 | $3.65 | $15,332 | $13,769 | 13.2 years |
| 8 kW | $3.58 | $20,049 | $18,751 | 12.9 years |
| 10 kW | $3.51 | $24,570 | $23,930 | 12.7 years |
| 12 kW | $3.44 | $28,894 | $29,306 | 12.4 years |
| 14 kW | $3.37 | $33,022 | $34,878 | 12.2 years |
| 16 kW | $3.30 | $36,953 | $40,647 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,613 | 11.7 years |
| 20 kW | $3.16 | $44,226 | $52,775 | 11.4 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. Because choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Hillsborough, NC Solar Cost FAQs
How much does it cost to install solar panels in Hillsborough?
The average cost of solar panels in Hillsborough 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 stuff like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Hillsborough?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in Hillsborough?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.