Solar Panel Cost Guide in Rocky Mount, NC (Mar 2023)
- Rocky Mount Solar Installation Cost: $12,535
- 25-Year Savings: $22,313
- Payback Period: 9.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Rocky Mount
Find out how much it might cost to switch to solar power in Rocky Mount.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Rocky Mount, the typical cost of solar panels is 2.54 per watt. Using this figure, a typical 7.0-kW system would cost about $12,535 before the 30% federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Rocky Mount based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire. Despite the large upfront cost, the average Rocky Mount homeowner can save around $19,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a top solar company in Rocky Mount, you can click the button below.
Solar savings over time in Rocky Mount
| Year | Return on Investment |
|---|---|
| 1 years | $-11,141 |
| 3 years | $-8,353 |
| 5 years | $-5,565 |
| 7 years | $-2,778 |
| 9 years | $10 |
| 11 years | $2,798 |
| 13 years | $5,586 |
| 15 years | $8,374 |
| 17 years | $11,161 |
| 19 years | $13,949 |
| 21 years | $16,737 |
| 23 years | $19,525 |
| 25 years | $22,313 |
Top Solar Installers in Rocky Mount
Although it's possible to install solar panels by yourself, it requires extra labor and knowledge. That's one of the reasons most people choose to hire a solar panel installer. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Rocky Mount
Factors that Affect Solar Panel Costs in Rocky Mount
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Rocky Mount: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use 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 solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 over time on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Rocky Mount average.
Solar Financing Terms
Most solar companies in Rocky Mount offer solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can affect how much you pay. Rocky Mount's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 | $2.64 | $11,095 | $18,571 | 9.3 years |
| 8 kW | $2.59 | $14,508 | $25,046 | 9.2 years |
| 10 kW | $2.54 | $17,780 | $31,664 | 9.0 years |
| 12 kW | $2.49 | $20,909 | $38,423 | 8.8 years |
| 14 kW | $2.44 | $23,896 | $45,325 | 8.6 years |
| 16 kW | $2.39 | $26,741 | $52,369 | 8.5 years |
| 18 kW | $2.34 | $29,444 | $59,555 | 8.3 years |
| 20 kW | $2.29 | $32,004 | $66,883 | 8.1 years |
How to Save on Solar Panels
There are many 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:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
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 Rocky Mount, NC Solar Cost FAQs
What is the average cost of installing solar panels in Rocky Mount?
This is a hard question to answer exactly, because the cost depends on a variety of 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Rocky Mount?
Leasing solar panels can be an attractive choice, as it usually 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Rocky Mount?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels do I need to power 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 buy 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.