Solar Panel Cost Guide in Wilmington, NC (Oct 2022)

  • Wilmington Solar Installation Cost: $11,326
  • 25-Year Savings: $20,949
  • Payback Period: 8.8 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Wilmington

Find out what the average cost of solar panel installation is in Wilmington.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Wilmington, the typical cost of solar panels is $3 per watt. Because a 6.4-kW system is needed to cover the energy costs of a typical home in Wilmington, the average price of going solar will be about $11,326 before claiming the federal solar tax credit of 30%.

How much you pay can go above or below the average in Wilmington depending on several factors, such as the model of solar panels you choose and the solar contractor you hire. Many homeowners find going solar is a fruitful investment. The average homeowner in Wilmington can save about $19,000 on their power bills over 20 years.

For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Wilmington

Year Return on Investment
1 years $-10,035
3 years $-7,453
5 years $-4,871
7 years $-2,289
9 years $293
11 years $2,875
13 years $5,457
15 years $8,039
17 years $10,621
19 years $13,203
21 years $15,785
23 years $18,367
25 years $20,949

Top Solar Installers in Wilmington

Although you can install solar panels yourself, it involves extra energy and knowledge. For that reason, the majority of homeowners choose to go with a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.

There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Wilmington

Factors that Affect Solar Panel Costs in Wilmington

There are several criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size. Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,540. There are several different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Most solar installers in Wilmington have solar loans, which reduce your upfront costs of installing solar. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.

Solar Panel Installation Company

The remaining key cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Wilmington, you'll have a great number of options to choose from, but each comes at varying 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 prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 $19,297 9.1 years
8 kW $2.59 $14,508 $26,014 9.0 years
10 kW $2.54 $17,780 $32,873 8.8 years
12 kW $2.49 $20,909 $39,874 8.6 years
14 kW $2.44 $23,896 $47,018 8.4 years
16 kW $2.39 $26,741 $54,304 8.2 years
18 kW $2.34 $29,444 $61,732 8.1 years
20 kW $2.29 $32,004 $69,302 7.9 years

Solar Incentives in Wilmington

Name Duke Energy - NC Solar Rebate Program
Website Visit here
More Info Click here

Name Property Tax Abatement for Solar Electric Systems
More Info Click here

Name Active Solar Heating and Cooling Systems Exemption
More Info Click here

Name Duke Energy Progress - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name EnergyUnited (Electric) Residential Energy Efficiency Program
Website Visit here
More Info Click here

Name Four-County EMC - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name NC GreenPower Production Incentive
Website Visit here
More Info Click here

Name Local Option - Financing Program for Renewable Energy and Energy Efficiency
Incentive Amount
More Info Click here

Name Local Option - Green Building Incentives
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the model of solar panels and the company you choose considerably impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Installation Process: When going solar, it's essential to keep an open line of communication with your solar panel company. See to it that you understand how the installation process works and the project timeline.
  • Solar Panel Brands: The model of solar panel you'd like plays a role in which installer you should go with, since different companies offer different panels.
  • Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
  • Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Wilmington, NC Solar Cost FAQs

How much does it cost to install solar panels in Wilmington?

This is a tough question to answer exactly, because the cost depends on a few different 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

What other factors should I consider other than cost when buying solar panels?

Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

How much can I save on electricity bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,013.06 per year.

How many solar panels do I need to power my home?

To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.

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.

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