Solar Panel Cost Guide in Morganton, NC (2024 Update)
- Morganton Solar Installation Cost: $17,063
- 25-Year Savings: $20,574
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Morganton
Find out what the average cost of a solar system is in Morganton.
The average cost of a solar system in Morganton is 4 per watt.Using this figure, a typical 6.9-kW system would cost about $17,063 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary depending on several factors, such as how many panels you need, your energy consumption and what company you go with.Many homeowners find installing solar panels is a solid investment. The average homeowner in Morganton can save around $18,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar company in Morganton for a customized estimate.
Solar savings over time in Morganton
| Year | Return on Investment |
|---|---|
| 1 years | $-15,740 |
| 3 years | $-13,096 |
| 5 years | $-10,452 |
| 7 years | $-7,808 |
| 9 years | $-5,163 |
| 11 years | $-2,519 |
| 13 years | $125 |
| 15 years | $2,769 |
| 17 years | $5,414 |
| 19 years | $8,058 |
| 21 years | $10,702 |
| 23 years | $13,346 |
| 25 years | $15,990 |
Top Solar Installers in Morganton
Although you can install solar panels on your own, it involves extra time and know-how. That's one of the reasons most homeowners choose a solar panel installer. Another good thing about choosing a vetted solar installer is that it'll provide warranties and free repairs, which help protect your investment.
If you're looking for a solar installer in Morganton, the EcoWatch team has put together a list of our top suggestions here:
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Morganton
Factors that Affect Solar Panel Costs in Morganton
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Morganton: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $3,510 per kilowatt in Morganton.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 get 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 in the long run on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Morganton average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your overall costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Morganton, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Larger national companies typically have lower costs, but some local companies undercut them by promoting 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 car 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 | $13,112 | 13.5 years |
| 8 kW | $3.58 | $20,049 | $17,876 | 13.2 years |
| 10 kW | $3.51 | $24,570 | $22,836 | 13.0 years |
| 12 kW | $3.44 | $28,894 | $27,993 | 12.7 years |
| 14 kW | $3.37 | $33,022 | $33,347 | 12.4 years |
| 16 kW | $3.30 | $36,953 | $38,897 | 12.2 years |
| 18 kW | $3.23 | $40,688 | $44,643 | 11.9 years |
| 20 kW | $3.16 | $44,226 | $50,586 | 11.7 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before deciding.
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Morganton, NC Solar Cost FAQs
How much does it cost to install solar panels in Morganton?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Morganton?
Leasing solar panels can be an appealing choice, because it typically 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.
How will solar panels impact my home value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
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 the amount of energy they produce will have decreased significantly after that point. You can replace them after having 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.