Solar Panel Cost Guide in Morehead City, NC (2023 Update)
- Morehead City Solar Installation Cost: $11,166
- 25-Year Savings: $20,393
- Payback Period: 8.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Morehead City
Let's take a look at the average cost of solar in Morehead City.
In Morehead City, solar panels cost about 2.54 per watt on average. Since a 6.3-kW system is needed to cover the energy costs of a typical home in Morehead City, the average price of going solar will be about $11,166 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and your own solar costs will differ based on the amount of energy your home requires and what company you choose to go with. Many homeowners find going solar is a solid investment. The average homeowner in Morehead City can save around $19,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar company in Morehead City for a quote for your home.
Solar savings over time in Morehead City
| Year | Return on Investment |
|---|---|
| 1 years | $-9,904 |
| 3 years | $-7,379 |
| 5 years | $-4,854 |
| 7 years | $-2,329 |
| 9 years | $195 |
| 11 years | $2,720 |
| 13 years | $5,245 |
| 15 years | $7,769 |
| 17 years | $10,294 |
| 19 years | $12,819 |
| 21 years | $15,343 |
| 23 years | $17,868 |
| 25 years | $20,393 |
Top Solar Installers in Morehead City
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using a solar panel installer can make your switch to solar power much easier. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be right for your family.
There are various 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
See all of the solar companies in Morehead City
Factors that Affect Solar Panel Costs in Morehead City
For many Morehead City homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Morehead City, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in Morehead City, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past energy bills. Your total cost can increase by about $2,540 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Morehead City homeowners decide to finance their solar panel systems to make paying for solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher 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 factor to consider when trying to figure out the cost of solar for your home or business in Morehead City is the company you hire to install your solar system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services for different budgets. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger 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 | $19,072 | 9.2 years |
| 8 kW | $2.59 | $14,508 | $25,713 | 9.0 years |
| 10 kW | $2.54 | $17,780 | $32,497 | 8.8 years |
| 12 kW | $2.49 | $20,909 | $39,423 | 8.7 years |
| 14 kW | $2.44 | $23,896 | $46,492 | 8.5 years |
| 16 kW | $2.39 | $26,741 | $53,702 | 8.3 years |
| 18 kW | $2.34 | $29,444 | $61,055 | 8.1 years |
| 20 kW | $2.29 | $32,004 | $68,550 | 8.0 years |
How to Save on Solar Panels
The solar company you choose will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: The model of solar panel you want to get plays a part in which company you should opt for, since different companies have access to different panels.
- Warranty: If you're concerned about the longevity of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Morehead City, NC Solar Cost FAQs
What is the average cost of installing solar panels in Morehead City?
This is a hard question to answer exactly, because the cost depends on a few different 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 extra solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Morehead City?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Morehead City have a net metering program?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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.