Solar Panel Cost Guide in Winston Salem, NC (Jan 2023)

  • Winston Salem Solar Installation Cost: $12,393
  • 25-Year Savings: $19,762
  • Payback Period: 9.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Winston Salem

Let's take a look at the average cost of solar panels in Winston Salem.

The average cost of solar panels in Winston Salem is $3 per watt. Using this figure, a typical 7.0 would cost about $12,393 before the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar panels you want, your solar contractor and more. Many homeowners find going solar is a solid investment. The average homeowner in Winston Salem can save about $18,000 on their power bills over 20 years.

To receive a free quote from a pre-vetted solar installer in Winston Salem, you can click the button below.

Solar savings over time in Winston Salem

Year Return on Investment
1 years $-11,106
3 years $-8,534
5 years $-5,962
7 years $-3,389
9 years $-817
11 years $1,755
13 years $4,328
15 years $6,900
17 years $9,472
19 years $12,045
21 years $14,617
23 years $17,189
25 years $19,762

Top Solar Installers in Winston Salem

Many homeowners choose to hire a solar panel installer since trying to install solar panels yourself can be time-consuming. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be best for your home.

If you're looking for a solar installer in Winston Salem, the EcoWatch team has compiled a list of our top suggestions here:

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 Winston Salem

Factors that Affect Solar Panel Costs in Winston Salem

For many Winston Salem homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Winston Salem, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the cost of a solar system in Winston Salem, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can determine by looking at past power bills. Your overall cost can increase by around $2,540 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Winston Salem average.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Winston Salem, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Winston Salem, you'll have many options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Winston Salem are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 $2.64 $11,095 $16,565 10.0 years
8 kW $2.59 $14,508 $22,372 9.8 years
10 kW $2.54 $17,780 $28,320 9.6 years
12 kW $2.49 $20,909 $34,411 9.4 years
14 kW $2.44 $23,896 $40,644 9.3 years
16 kW $2.39 $26,741 $47,019 9.1 years
18 kW $2.34 $29,444 $53,537 8.9 years
20 kW $2.29 $32,004 $60,197 8.7 years

How to Save on Solar Panels

There are a lot of companies to choose from in Winston Salem, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:

  • Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
  • Contract: It's important to look over 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.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
  • Installation Process: When making the switch to solar, it's necessary to keep an open line of communication with your solar company. See to it that you understand how the installation process will go and the completion timeline.

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 Winston Salem, NC Solar Cost FAQs

How much does it cost to install solar panels in Winston Salem?

The average cost of solar panels in Winston Salem 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 like the model of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important consideration when buying solar panels?

Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Can solar panels completely eradicate my power bills?

Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $922.01 per year.

How many solar panels should I get to power my home?

To figure out what solar panel system size you need, you should find out how much energy your home needs 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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