Solar Panel Cost Guide in Rocky Mount, NC (2023 Update)
- Rocky Mount Solar Installation Cost: $12,531
- 25-Year Savings: $22,316
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rocky Mount
Find out what the average cost of solar panel installation is in Rocky Mount.
The national average cost of solar panels is $2.66 per watt, but in Rocky Mount it's 2.54 per watt. Since a 7.0-kW system is needed to cover the energy costs of a typical home in Rocky Mount, the average price of going solar will be about $12,535 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar system you want to get, your solar contractor and more. Many homeowners find going solar is a sound investment. The average homeowner in Rocky Mount can save about $19,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Rocky Mount
| Year | Return on Investment |
|---|---|
| 1 years | $-12,415 |
| 3 years | $-12,183 |
| 5 years | $-11,950 |
| 7 years | $-11,718 |
| 9 years | $-11,486 |
| 11 years | $-11,253 |
| 13 years | $-11,021 |
| 15 years | $-10,789 |
| 17 years | $-10,556 |
| 19 years | $-10,324 |
| 21 years | $-10,092 |
| 23 years | $-9,859 |
| 25 years | $-9,627 |
Top Solar Installers in Rocky Mount
Many homeowners opt for a solar installation company since installing solar panels by yourself can be hard. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't sure which solar system 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 Rocky Mount
Factors that Affect Solar Panel Costs in Rocky Mount
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Rocky Mount: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar panels and equipment you choose is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Rocky Mount have solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of loans, 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 more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can affect the cost. Rocky Mount's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 numerous companies available in Rocky Mount, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Rocky Mount, NC Solar Cost FAQs
How much does it cost to install solar panels in Rocky Mount?
The average cost of solar panels in Rocky Mount 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will solar panels impact the value of my home?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.