Solar Panel Cost Guide in Raleigh, NC (2024 Update)

  • Raleigh Solar Installation Cost: $17,186
  • 25-Year Savings: $19,114
  • Payback Period: 13.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Raleigh

Let’s take a look at the average cost of solar in Raleigh.

Although the national average of solar panels is $2.66 per watt, solar panels in Raleigh typically cost about 4.The average Raleigh homeowner needs a 7.0-kilowatt system, which would cost about $17,186 with the federal tax credit, or $24,576 before the 0 tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary depending on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $17,000 over 20 years on electricity bills.

To get a free quote from a vetted solar installation company in Raleigh, you can click the button below.

Solar savings over time in Raleigh

Year Return on Investment
1 years $-15,721
3 years $-12,790
5 years $-9,860
7 years $-6,930
9 years $-4,000
11 years $-1,069
13 years $1,861
15 years $4,791
17 years $7,721
19 years $10,652
21 years $13,582
23 years $16,512
25 years $19,443

Top Solar Installers in Raleigh

When switching to solar energy, many homeowners opt to hire a solar installation company since installing a solar system yourself can be a difficult project. Some solar companies, particularly local ones, can help you better understand incentives in Raleigh, therefore optimizing your ROI.

You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Raleigh:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Raleigh

Factors that Affect Solar Panel Costs in Raleigh

The cost of installing a solar system in Raleigh can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.

Solar Financing Terms

Most solar companies in Raleigh provide solar loans, which reduce your upfront costs of installing a solar system.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.

Solar Panel Installation Company

The remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Raleigh, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that provides the products, warranties and services you want and also fit into your budget.

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 $11,733 14.2 years
8 kW $3.58 $20,049 $16,037 13.9 years
10 kW $3.51 $24,570 $20,537 13.6 years
12 kW $3.44 $28,894 $25,234 13.3 years
14 kW $3.37 $33,022 $30,128 13.1 years
16 kW $3.30 $36,953 $35,218 12.8 years
18 kW $3.23 $40,688 $40,505 12.5 years
20 kW $3.16 $44,226 $45,988 12.3 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:

  • Reputation: Companies that have been operating for many years likely have a good 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: Before you sign a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Solar Panel Brands: Different companies will carry different brands and models of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
  • Installation Process: When making the switch to solar power, it’s necessary to maintain an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the project timeline.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Raleigh, NC Solar Cost FAQs

What is the average cost of installing solar panels in Raleigh?

The average cost of solar panels in Raleigh is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Raleigh?

Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback 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.

Is it worth going solar in Raleigh?

Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.

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 stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.

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