Solar Panel Cost Guide in Morrisville, NC (Mar 2023)
- Morrisville Solar Installation Cost: $12,428
- 25-Year Savings: $18,824
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Morrisville
Let's have a look at the average cost of solar panels in Morrisville.
In Morrisville, solar panels cost about 2.54 per watt on average. To account for the typical energy usage of the average home in Morrisville, most homeowners require a 7.0-kilowatt system. Using the figure above, a solar installation costs around $12,428, or $17,772 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar panels you choose, your solar contractor and more. But, after you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $17,000 over 20 years on power bills.
You can click the button below to get connected with a top solar installer in Morrisville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Morrisville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,178 |
| 3 years | $-8,678 |
| 5 years | $-6,178 |
| 7 years | $-3,678 |
| 9 years | $-1,178 |
| 11 years | $1,323 |
| 13 years | $3,823 |
| 15 years | $6,323 |
| 17 years | $8,823 |
| 19 years | $11,323 |
| 21 years | $13,823 |
| 23 years | $16,324 |
| 25 years | $18,824 |
Top Solar Installers in Morrisville
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make swapping over to solar power much easier. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.
Working with a licensed 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 (coming 2022)
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 Morrisville
Factors that Affect Solar Panel Costs in Morrisville
The cost of installing a solar system in Morrisville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,540. The brand and type 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 have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Morrisville provide solar loans, which reduce your upfront costs of installing solar. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Morrisville, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Larger national companies usually 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 extra 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 | $15,713 | 10.3 years |
| 8 kW | $2.59 | $14,508 | $21,235 | 10.1 years |
| 10 kW | $2.54 | $17,780 | $26,900 | 9.9 years |
| 12 kW | $2.49 | $20,909 | $32,706 | 9.7 years |
| 14 kW | $2.44 | $23,896 | $38,655 | 9.6 years |
| 16 kW | $2.39 | $26,741 | $44,746 | 9.4 years |
| 18 kW | $2.34 | $29,444 | $50,980 | 9.2 years |
| 20 kW | $2.29 | $32,004 | $57,355 | 9.0 years |
How to Save on Solar Panels
There are many companies available in Morrisville, 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:
- Installation Process: When making the switch to solar, it's important to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the completion timeline.
- Reputation: Well-established companies likely have a solid 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 service, such as part repairs and replacements.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Morrisville, NC Solar Cost FAQs
What is the average cost of installing solar panels in Morrisville?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally 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 needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
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 often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.