Solar Panel Cost Guide in Chapel Hill, NC (2024 Update)
- Chapel Hill Solar Installation Cost: $17,158
- 25-Year Savings: $20,043
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Chapel Hill
We go over average solar pricing in Chapel Hill.
The average cost of solar panels in Chapel Hill is 4 per watt.Using this figure, a typical 7.0-kW system would cost about $17,158 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary quite a bit based on several factors, such as what size system you need, your energy usage and what company you go with.With average savings of about $18,000 on electricity bills over 20 years, many homeowners in Chapel Hill find installing solar panels can pay off big.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Chapel Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-15,761 |
| 3 years | $-12,968 |
| 5 years | $-10,175 |
| 7 years | $-7,382 |
| 9 years | $-4,589 |
| 11 years | $-1,795 |
| 13 years | $998 |
| 15 years | $3,791 |
| 17 years | $6,584 |
| 19 years | $9,378 |
| 21 years | $12,171 |
| 23 years | $14,964 |
| 25 years | $17,757 |
Top Solar Installers in Chapel Hill
Many homeowners choose to use a solar installation company since trying to install solar panels by yourself can be time-consuming. Another perk of using a solar company is that they can help you maximize your return of investment by reducing your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Chapel Hill
Factors that Affect Solar Panel Costs in Chapel Hill
While the average cost of a solar system in Chapel Hill is $17,158, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,510. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Chapel Hill, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Chapel Hill, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your overall costs, so it’s vital to consider that 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 installer you pick will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Chapel Hill are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $3.65 | $15,332 | $12,557 | 13.7 years |
| 8 kW | $3.58 | $20,049 | $17,136 | 13.5 years |
| 10 kW | $3.51 | $24,570 | $21,911 | 13.2 years |
| 12 kW | $3.44 | $28,894 | $26,883 | 13.0 years |
| 14 kW | $3.37 | $33,022 | $32,052 | 12.7 years |
| 16 kW | $3.30 | $36,953 | $37,417 | 12.4 years |
| 18 kW | $3.23 | $40,688 | $42,978 | 12.2 years |
| 20 kW | $3.16 | $44,226 | $48,737 | 11.9 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 a challenge, we have some tips to help you, such as:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Installation Process: When making the switch to solar, it’s important to keep an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project completion timeline.
- Reputation: Companies that have been operating for many years likely have a good 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 National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Chapel Hill, NC Solar Cost FAQs
What is the average cost of installing solar panels in Chapel Hill?
The average cost of solar panels in Chapel Hill is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact my property value?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.