Solar Panel Cost Guide in Rolesville, NC (Mar 2023)
- Rolesville Solar Installation Cost: $12,428
- 25-Year Savings: $21,502
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Rolesville
Find out what the average cost of solar panel installation is in Rolesville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Rolesville, the average cost of solar panels is 2.54 per watt. To account for the typical energy needs of the average home in Rolesville, most homeowners require a 7.0-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,428, or $17,772 before the federal solar tax credit of 30% is applied.
These figures are just averages, and the cost of going solar for you will most likely vary based on your specific situation and what company you go with. With average savings of about $18,000 on energy bills over 20 years, many homeowners in Rolesville find going solar can be quite rewarding.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Rolesville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,071 |
| 3 years | $-8,357 |
| 5 years | $-5,642 |
| 7 years | $-2,928 |
| 9 years | $-213 |
| 11 years | $2,501 |
| 13 years | $5,215 |
| 15 years | $7,930 |
| 17 years | $10,644 |
| 19 years | $13,359 |
| 21 years | $16,073 |
| 23 years | $18,787 |
| 25 years | $21,502 |
Top Solar Installers in Rolesville
Although you can install solar panels on your own, it requires extra time and expertise. That's why almost all homeowners choose to hire a solar panel installer. Some solar companies, especially local ones, can help you take advantage of incentives in Rolesville, therefore optimizing your ROI.
If you're on the hunt for a solar company in Rolesville, the EcoWatch team has organized 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 (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 Rolesville
Factors that Affect Solar Panel Costs in Rolesville
For many Rolesville homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Rolesville, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need 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 brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the total 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 securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Rolesville is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in Rolesville have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $18,015 | 9.5 years |
| 8 kW | $2.59 | $14,508 | $24,304 | 9.3 years |
| 10 kW | $2.54 | $17,780 | $30,736 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $37,310 | 9.0 years |
| 14 kW | $2.44 | $23,896 | $44,026 | 8.8 years |
| 16 kW | $2.39 | $26,741 | $50,884 | 8.6 years |
| 18 kW | $2.34 | $29,444 | $57,885 | 8.4 years |
| 20 kW | $2.29 | $32,004 | $65,028 | 8.2 years |
How to Save on Solar Panels
There are many companies available in Rolesville, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
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 Rolesville, NC Solar Cost FAQs
How much does it cost to install solar panels in Rolesville?
The average cost of solar panels in Rolesville is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Rolesville?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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 financial benefits from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 higher 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.