Solar Panel Cost Guide in Morganton, NC (2023 Update)
- Morganton Solar Installation Cost: $12,339
- 25-Year Savings: $20,582
- Payback Period: 9.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Morganton
Find out how much it might cost to go solar in Morganton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Morganton, the typical cost of solar panels is 2.54 per watt. The average solar panel system size in Morganton is around 6.9 kilowatts, meaning a cost of about $12,339 for a solar installation, or $17,645 before the 30% federal solar tax credit is applied.
The actual price you pay can go above or below the average in Morganton based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire. With typical savings of about $18,000 on power bills over 20 years, many homeowners in Morganton find installing solar panels can be quite rewarding.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Morganton
| Year | Return on Investment |
|---|---|
| 1 years | $-11,022 |
| 3 years | $-8,389 |
| 5 years | $-5,755 |
| 7 years | $-3,121 |
| 9 years | $-488 |
| 11 years | $2,146 |
| 13 years | $4,780 |
| 15 years | $7,413 |
| 17 years | $10,047 |
| 19 years | $12,681 |
| 21 years | $15,315 |
| 23 years | $17,948 |
| 25 years | $20,582 |
Top Solar Installers in Morganton
When going solar, many homeowners prefer to use a solar company since installing solar panels yourself can be a challenging project. Companies can also have access to a large variety of the best solar panels and help you choose which one will be best for your home.
Working with a vetted solar company 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
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 Morganton
Factors that Affect Solar Panel Costs in Morganton
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Morganton: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Morganton, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,540 for each additional kilowatt you need. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Morganton, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. Even though solar loans make switching to solar energy more accessible for Morganton homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Morganton is the company you get to install your PV system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services for different budgets. Additionally, some companies in Morganton know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $17,349 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,416 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,626 | 9.4 years |
| 12 kW | $2.49 | $20,909 | $35,978 | 9.2 years |
| 14 kW | $2.44 | $23,896 | $42,472 | 9.0 years |
| 16 kW | $2.39 | $26,741 | $49,109 | 8.8 years |
| 18 kW | $2.34 | $29,444 | $55,887 | 8.6 years |
| 20 kW | $2.29 | $32,004 | $62,808 | 8.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
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 Morganton, NC Solar Cost FAQs
What is the average cost of installing solar panels in Morganton?
This is a tough 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Morganton?
You can't get solar panels for free in Morganton. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage 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 install 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.