Solar Panel Cost Guide in Moyock, NC (2023 Update)
- Moyock Solar Installation Cost: $11,628
- 25-Year Savings: $23,647
- Payback Period: 8.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Moyock
See how much it might cost to go solar in Moyock.
In Moyock, solar panels cost about 2.54 per watt on average. The average Moyock homeowner needs a 6.5-kilowatt system, which would cost about $11,628 with the federal tax credit, or $16,628 before the 30% tax credit is applied.
How much you pay can go higher or lower than the average in Moyock depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $21,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Moyock
| Year | Return on Investment |
|---|---|
| 1 years | $-10,217 |
| 3 years | $-7,395 |
| 5 years | $-4,573 |
| 7 years | $-1,751 |
| 9 years | $1,071 |
| 11 years | $3,893 |
| 13 years | $6,715 |
| 15 years | $9,537 |
| 17 years | $12,359 |
| 19 years | $15,181 |
| 21 years | $18,003 |
| 23 years | $20,825 |
| 25 years | $23,647 |
Top Solar Installers in Moyock
Installing solar panels on your own can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. In addition, if you'd like to maximize your investment in solar power, using a solar installer can help with that too. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
If you'd like to make the switch to solar but still aren't sure which solar installer to go with, here are our suggestions for providers nearby:
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 Moyock
Factors that Affect Solar Panel Costs in Moyock
Although the average cost of a solar system in Moyock is $11,628, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,540. The brand and type of equipment you get for your solar system can raise or lower 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 limited roof space 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. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Moyock to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. When considering 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 reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Moyock, and each can charge different amounts for labor and equipment. The company's size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of 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 promotion 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 | $21,280 | 8.6 years |
| 8 kW | $2.59 | $14,508 | $28,658 | 8.4 years |
| 10 kW | $2.54 | $17,780 | $36,178 | 8.2 years |
| 12 kW | $2.49 | $20,909 | $43,841 | 8.1 years |
| 14 kW | $2.44 | $23,896 | $51,645 | 7.9 years |
| 16 kW | $2.39 | $26,741 | $59,592 | 7.7 years |
| 18 kW | $2.34 | $29,444 | $67,681 | 7.6 years |
| 20 kW | $2.29 | $32,004 | $75,912 | 7.4 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 decide on the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
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 Moyock, NC Solar Cost FAQs
How much does it cost to install solar panels in Moyock?
The average cost of solar panels in Moyock is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as 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 Moyock?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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 bang for your buck from going solar.
Is it worth going solar in Moyock?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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 get between 20 and 35 panels to account for 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.