Solar Panel Cost Guide in Charlotte, VT (2024 Update)
- Charlotte Solar Installation Cost: $15,413
- 25-Year Savings: $22,268
- Payback Period: 11.4 Years
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Average Cost of Solar Panels in Charlotte
Let’s have a look at the average cost of solar panels in Charlotte.
In Charlotte, solar panels cost about 4 per watt on average.The average Charlotte homeowner needs a 5.7-kilowatt system, which would cost about $15,413 with the federal tax credit, or $22,041 before the 0 tax credit is applied.
The true cost of your system can go above or below the average in Charlotte depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $22,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a top solar company in Charlotte for a quote for your home.
Solar savings over time in Charlotte
| Year | Return on Investment |
|---|---|
| 1 years | $-14,052 |
| 3 years | $-11,331 |
| 5 years | $-8,609 |
| 7 years | $-5,887 |
| 9 years | $-3,165 |
| 11 years | $-444 |
| 13 years | $2,278 |
| 15 years | $5,000 |
| 17 years | $7,722 |
| 19 years | $10,443 |
| 21 years | $13,165 |
| 23 years | $15,887 |
| 25 years | $18,609 |
Top Solar Installers in Charlotte
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring a solar panel installer can make your switch to solar power much easier. The expertise that solar installers provide can be useful as well, especially if you don’t quite know what kind of solar equipment would be right for your home.
If you're looking for a solar company in Charlotte, the EcoWatch team has compiled a list of our top suggestions here:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Charlotte
Factors that Affect Solar Panel Costs in Charlotte
For many Charlotte homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Charlotte, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Charlotte to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you pick will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.00 | $16,817 | $18,598 | 11.9 years |
| 8 kW | $3.93 | $21,991 | $25,229 | 11.6 years |
| 10 kW | $3.85 | $26,950 | $32,075 | 11.4 years |
| 12 kW | $3.77 | $31,693 | $39,137 | 11.2 years |
| 14 kW | $3.70 | $36,221 | $46,414 | 11.0 years |
| 16 kW | $3.62 | $40,533 | $53,907 | 10.7 years |
| 18 kW | $3.54 | $44,629 | $61,616 | 10.5 years |
| 20 kW | $3.47 | $48,510 | $69,540 | 10.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Charlotte, VT Solar Cost FAQs
How much does it cost to install solar panels in Charlotte?
The average cost of solar panels in Charlotte is about $19,250 for a 5-kW system and $38,500 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Charlotte?
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 property 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 savings from going solar.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Charlotte, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Charlotte?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.