North Carolina Solar Panels | 2022 Cost and Incentives | SaveOnEnergy®

North Carolina Solar Panels Pricing and Incentives

home with solar panels on the roof

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North Carolina is a national leader when it comes to solar power. Ranking in the top five of all states, solar energy is a major source of electricity in the Tar Heel state and is a major contributor to the state’s economy.

Are you considering installing solar panels on your home in North Carolina? Keep reading to learn more about the costs and benefits of solar power and whether it’s right for your home.

Why choose North Carolina solar power?

There are three primary benefits to installing solar panels on your home: lower energy costs, energy independence, and a lower environmental footprint.

Lower energy costs

One of the most attractive benefits of installing solar panels is that you’ll save money on your energy bill. When you invest in solar power, your solar panels capture sunlight and turn it into energy to power your home. Anytime your home is being powered by solar energy, you aren’t paying for electricity from the traditional electricity grid. While the amount you can save depends on several factors, you have the potential to save more than $1,000 per year.

Establish energy independence

Another benefit of solar panels is they can help you achieve energy independence, meaning you aren’t reliant on the traditional electricity grid to power your home. There are two key benefits to energy independence.

First, when you’re energy independent, you don’t have to worry about power outages. When a storm or downed power line takes out your neighbors’ power, your stored solar energy can continue to power your home. The other benefit is that you aren’t vulnerable to energy price hikes when demand spikes.

Go green

Traditional electricity generation emits greenhouse gasses that pollute the air and water and contribute to climate change. But solar power is a renewable energy source, and its production doesn’t have those same harmful effects. As a result, installing solar panels on your home can help you to reduce your family’s carbon footprint.

North Carolina solar panel cost

The cost of a residential solar panel system depends on several factors, including its size, components, and configuration, as well as local labor and permitting costs. On average, a solar panel system costs between $3 and $5 per watt, with the average 5-kW residential system costing between $15,000 and $25,000. When you account for your energy savings, as well as any rebates and tax credits you may be eligible for, you can expect to recover those costs within about 6-9 years.

North Carolina solar incentives or rebates

Solar panels are a considerable financial investment, but the federal government and many state and local governments have initiatives in place to reduce the cost burden.

First, the federal government offers a tax credit for homeowners who invest in solar power for their homes. The tax credit is 26% in 2022, 22% in 2023, and is set to disappear in 2024 unless Congress renews it. This tax credit can save you thousands on your solar panels.

The state of North Carolina also has several initiatives in place. First, there is a state property tax exemption, meaning you won’t pay additional property taxes on the value your solar panels add to your home. The state also has a net metering policy that allows homeowners to sell their excess solar energy back to the grid for credits on future energy bills. Finally, state law allows cities and counties to offer low-interest loans to homeowners who wish to install solar panels and other green energy upgrades.

Follow these steps to learn more about solar energy

  1. Call our solar energy experts 
  2. Find out if solar energy is right for you and discuss the options available at your home
  3. Call: 1-888-888-8888 now to get a customized quote.

Should I buy or lease my solar panels?

When you decide to install solar panels on your home, you can choose to either buy or lease your solar panels. While both options have some advantages, buying your own solar panels is ultimately the most cost-effective. First, it will make you eligible for the federal tax credit and other financial incentives. It will also help you maximize your long-term energy savings. Finally, buying solar panels can increase your home’s resale value by $15,000 on average.

While buying solar panels is most cost-effective overall, leasing solar panels is also a great option for many people and can make solar power more accessible. Leasing is well suited to those who don’t want to take on the upfront cost of buying solar panels or who rent their homes and therefore can’t buy solar panels.

While buying and leasing solar panels are the most common options, there is another option available in some areas — community solar programs. In these shared solar programs, participants share the benefits of the solar power the project produces without having to pay for solar panels or install them on their homes. It’s ideal for those in apartments or who want to reduce their costs while still enjoying some benefits of solar power.

Follow these steps to learn more about solar energy

  1. Call our solar energy experts 
  2. Find out if solar energy is right for you and discuss the options available at your home
  3. Call: 1-888-888-8888 now to get a customized quote.

The history of solar power in North Carolina

North Carolina started implementing solar-friendly policies much later than many states. In 2003, the state passed its first solar legislation to encourage the use of renewable energy. In the following years, the state implemented several more policies to make solar power more affordable and attractive for its residents.

North Carolina’s investments in solar power have paid off because the state now ranks fourth in the nation for solar energy generation. Solar power accounts for more than 8% of the state’s electricity generation, which is enough to power nearly one million homes. Most of the solar installations over the past decade have been utility installations, but there have been many commercial and residential installations as well.

Important solar factors to consider

Solar power can be an excellent investment, helping to reduce your energy costs and your home’s carbon footprint. But it’s not right for everyone, and there are a few things you should consider before you invest in solar power.

  1. According to the Department of Energy, solar power is best suited to south-facing roofs with slopes of 15 to 40 degrees. It’s also important to consider the age and condition of your roof and when it will need to be replaced.
  2. Solar panels are most effective in areas that get lots of sunlight. Luckily, North Carolina residents can get plenty of use out of their solar panels, while residents in states with more overcast weather may not.
  3. Some homeowners associations have restrictions around the use of solar panels. If you have a neighborhood organization, you may be limited in the size of the solar system you can install or may need to get approval ahead of time. 

Solar power FAQs

How much would solar cost in North Carolina? Expand / Collapse Toggle

The average 5-kW residential solar panel system costs between $15,000 and $25,000. Your cost will depend on the size and components of your system, local labor and permitting costs, and what financial incentives you may be eligible for.

Is solar power a good investment in North Carolina? Expand / Collapse Toggle

Solar power can be an excellent investment, helping you to increase the value of your home and reduce your energy costs. But it’s important to consider your home’s location, the local weather patterns, and your energy usage habits to determine if it’s the right choice for your house.

How much could I save by investing in solar? Expand / Collapse Toggle

North Carolina residents pay, on average, about $125 per month for electricity. If you replaced that electricity entirely with solar power, you could save $1,500 per year. Keep in mind other savings could include the federal tax credit and the increase in your home’s value.

Where can I find a good solar panel installer in North Carolina? Expand / Collapse Toggle

SaveOnEnergy can help you find a trusted solar installer near you. Enter your information in the form on the screen and we’ll connect you with a local solar installer.

How does solar power help the environment? Expand / Collapse Toggle

Solar power is a renewable resource, and unlike traditional electricity generation, it doesn’t emit carbon dioxide into the atmosphere.