Solar Panel Cost Guide in Tarboro, NC (Mar 2023)
- Tarboro Solar Installation Cost: $12,517
- 25-Year Savings: $23,382
- Payback Period: 8.7 Years
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Updated March 14, 2023
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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.
The national average cost of solar panels is $2.66 per watt, but in Tarboro it's 2.54 per watt. Using this figure, a typical 7.0-kW system would cost about $12,517 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Tarboro depending on several factors, such as the kind of solar panels you choose and the solar installer you hire. For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $19,000 in savings on energy bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Tarboro
| Year | Return on Investment |
|---|---|
| 1 years | $-11,081 |
| 3 years | $-8,209 |
| 5 years | $-5,337 |
| 7 years | $-2,465 |
| 9 years | $406 |
| 11 years | $3,278 |
| 13 years | $6,150 |
| 15 years | $9,022 |
| 17 years | $11,894 |
| 19 years | $14,766 |
| 21 years | $17,638 |
| 23 years | $20,510 |
| 25 years | $23,382 |
Top Solar Installers in Tarboro
Many homeowners opt for a solar installation company since figuring out how to install solar panels by yourself can be time-consuming. Also, companies with a high 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 switch to solar energy but still aren't sure which solar panel installer to go with, here are our recommendations for providers in Tarboro:
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 Tarboro
Factors that Affect Solar Panel Costs in Tarboro
For many Tarboro homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Tarboro, 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
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Tarboro homeowners choose to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your all-in costs, so it's vital to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating in Tarboro, and each can charge different amounts for labor and equipment. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $19,485 | 9.1 years |
| 8 kW | $2.59 | $14,508 | $26,265 | 8.9 years |
| 10 kW | $2.54 | $17,780 | $33,187 | 8.7 years |
| 12 kW | $2.49 | $20,909 | $40,251 | 8.5 years |
| 14 kW | $2.44 | $23,896 | $47,457 | 8.4 years |
| 16 kW | $2.39 | $26,741 | $54,806 | 8.2 years |
| 18 kW | $2.34 | $29,444 | $62,296 | 8.0 years |
| 20 kW | $2.29 | $32,004 | $69,930 | 7.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- 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.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: The model of solar panel you need plays a part in which company you should go with, since different companies have access to different panels.
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 Tarboro, NC Solar Cost FAQs
What is the average cost of installing solar panels in Tarboro?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Tarboro have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How long do solar panels last in Tarboro?
On average, the lifespan of solar panels is 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 amount 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.