Solar Panel Cost Guide in Rocky Mount, NC (2024 Update)
- Rocky Mount Solar Installation Cost: $17,317
- 25-Year Savings: $22,316
- Payback Period: 12.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Rocky Mount
Find out what the average cost of solar panels are in Rocky Mount.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Rocky Mount, the average cost of solar panels is 4 per watt.The average Rocky Mount homeowner needs a 7.0-kilowatt system, which would cost about $17,317 with the federal tax credit, or $24,763 before the 0 tax credit is applied.
These figures are only estimates, and your own solar costs will differ based on factors unique to your home and what company you go with.Even with the significant upfront cost, the average Rocky Mount homeowner can save around $19,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a vetted solar company in your area for a personalized estimate.
Solar savings over time in Rocky Mount
| Year | Return on Investment |
|---|---|
| 1 years | $-15,834 |
| 3 years | $-12,868 |
| 5 years | $-9,902 |
| 7 years | $-6,937 |
| 9 years | $-3,971 |
| 11 years | $-1,005 |
| 13 years | $1,961 |
| 15 years | $4,926 |
| 17 years | $7,892 |
| 19 years | $10,858 |
| 21 years | $13,824 |
| 23 years | $16,790 |
| 25 years | $19,755 |
Top Solar Installers in Rocky Mount
Although it's possible to install solar panels yourself, it involves extra effort and know-how. That's why most homeowners choose to hire a solar panel installer. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're looking for a solar company in Rocky Mount, the EcoWatch team has put together a list of our top suggestions here:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Rocky Mount
Factors that Affect Solar Panel Costs in Rocky Mount
For many Rocky Mount homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Rocky Mount, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation 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 $3,510.There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.Though solar loans make going solar more accessible for Rocky Mount homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Rocky Mount, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $14,334 | 12.9 years |
| 8 kW | $3.58 | $20,049 | $19,506 | 12.7 years |
| 10 kW | $3.51 | $24,570 | $24,874 | 12.4 years |
| 12 kW | $3.44 | $28,894 | $30,438 | 12.2 years |
| 14 kW | $3.37 | $33,022 | $36,199 | 11.9 years |
| 16 kW | $3.30 | $36,953 | $42,156 | 11.7 years |
| 18 kW | $3.23 | $40,688 | $48,311 | 11.4 years |
| 20 kW | $3.16 | $44,226 | $54,661 | 11.2 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Rocky Mount, NC Solar Cost FAQs
What is the average cost of installing solar panels in Rocky Mount?
The average cost of solar panels in Rocky Mount 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Rocky Mount?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Rocky Mount is currently $188,078, so you could be looking at a value of about $7,711 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Rocky Mount is a fruitful investment.
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 larger 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.