Solar Panel Cost Guide in Tarboro, NC (2024 Update)
- Tarboro Solar Installation Cost: $17,306
- 25-Year Savings: $23,375
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Tarboro
Let’s take a look at the average cost of solar panels in Tarboro.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Tarboro, the average cost of solar panels is 4 per watt.Because a 7.0-kW system is needed to cover the energy needs of a typical home in Tarboro, the average price of going solar will be about $17,306 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Tarboro homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the high initial cost, the average Tarboro homeowner can save about $19,000 on their energy bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Tarboro
| Year | Return on Investment |
|---|---|
| 1 years | $-15,835 |
| 3 years | $-12,893 |
| 5 years | $-9,950 |
| 7 years | $-7,008 |
| 9 years | $-4,066 |
| 11 years | $-1,124 |
| 13 years | $1,818 |
| 15 years | $4,760 |
| 17 years | $7,703 |
| 19 years | $10,645 |
| 21 years | $13,587 |
| 23 years | $16,529 |
| 25 years | $19,471 |
Top Solar Installers in Tarboro
Although it's possible to install solar panels on your own, it requires extra labor and knowledge. That's why the majority of homeowners choose to hire a solar panel installer. Some solar companies, especially local ones, can help you make the most of incentives in Tarboro, optimizing your ROI.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 Tarboro
Factors that Affect Solar Panel Costs in Tarboro
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Tarboro: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,510 per kilowatt in Tarboro.There are a lot of different solar panel brands and the one you choose also changes the cost. Typically, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are provided by most installers in Tarboro, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your total costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Tarboro is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that provide a range of services at different costs.Additionally, some companies in Tarboro have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $3.65 | $15,332 | $15,248 | 12.5 years |
| 8 kW | $3.58 | $20,049 | $20,724 | 12.3 years |
| 10 kW | $3.51 | $24,570 | $26,397 | 12.1 years |
| 12 kW | $3.44 | $28,894 | $32,266 | 11.8 years |
| 14 kW | $3.37 | $33,022 | $38,331 | 11.6 years |
| 16 kW | $3.30 | $36,953 | $44,594 | 11.3 years |
| 18 kW | $3.23 | $40,688 | $51,052 | 11.1 years |
| 20 kW | $3.16 | $44,226 | $57,708 | 10.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
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 Tarboro, NC Solar Cost FAQs
What is the average cost of installing solar panels in Tarboro?
The average cost of solar panels in Tarboro is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Tarboro?
You can’t get solar panels for free in Tarboro. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home value?
Solar panels can increase the value of your home remarkably 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 solar panels."
How long do solar panels last in Tarboro?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.