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
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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 typical cost of a solar system is 4 per watt.The average solar panel system size in Rocky Mount is around 7.0 kilowatts, meaning a cost of about $17,317 for a solar installation, or $24,763 before the 0 federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you may differ based on your specific situation and what company you choose to go with.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $19,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
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 you can install solar panels by yourself, it requires extra time and know-how. Because of that, most homeowners choose to go with a solar panel installer. Another great thing about using a vetted solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best National Provider
SunPower
- 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
- 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 typically one of the most important factors for homeowners who are considering investing 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 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. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Rocky Mount, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Rocky Mount, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your overall costs, so it’s important to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Rocky Mount, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 installer you choose significantly impacts your costs and your system’s durability and efficiency, 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: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
Best National Provider
SunPower
- 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
- 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
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 few different factors. Broadly speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Rocky Mount?
Leasing solar panels can be an attractive choice, as it typically 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How will having solar panels impact how much my home is worth?
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 can expect a value of about $7,711 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Rocky Mount is a worthwhile investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.