Solar Panel Cost Guide in Concord, NC (2024 Update)
- Concord Solar Installation Cost: $16,853
- 25-Year Savings: $18,808
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Concord
We go over average solar pricing in Concord.
In Concord, solar panels cost about 4 per watt on average.The average solar panel system size in Concord is around 6.9 kilowatts, meaning a cost of about $16,853 for a solar installation, or $24,100 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of equipment you want, your solar contractor and more.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on power bills.
To get a free quote from a highly rated solar installer in Concord, you can click the button below.
Solar savings over time in Concord
| Year | Return on Investment |
|---|---|
| 1 years | $-15,531 |
| 3 years | $-12,886 |
| 5 years | $-10,242 |
| 7 years | $-7,598 |
| 9 years | $-4,954 |
| 11 years | $-2,309 |
| 13 years | $335 |
| 15 years | $2,979 |
| 17 years | $5,623 |
| 19 years | $8,268 |
| 21 years | $10,912 |
| 23 years | $13,556 |
| 25 years | $16,200 |
Top Solar Installers in Concord
When switching to solar energy, many homeowners choose to use a solar installation company since installing solar panels yourself can be a time-consuming project. The payback period on a solar system will vary based on factors like your roof configuration and energy use, but going with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
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 Concord
Factors that Affect Solar Panel Costs in Concord
The cost of installing a solar system in Concord can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production 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 $3,510.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Concord homeowners opt to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your total costs, so it’s important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Concord, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $3.65 | $15,332 | $11,788 | 14.1 years |
| 8 kW | $3.58 | $20,049 | $16,111 | 13.9 years |
| 10 kW | $3.51 | $24,570 | $20,630 | 13.6 years |
| 12 kW | $3.44 | $28,894 | $25,346 | 13.3 years |
| 14 kW | $3.37 | $33,022 | $30,258 | 13.0 years |
| 16 kW | $3.30 | $36,953 | $35,367 | 12.8 years |
| 18 kW | $3.23 | $40,688 | $40,672 | 12.5 years |
| 20 kW | $3.16 | $44,226 | $46,174 | 12.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: If you care about the longevity of your solar system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: Before you sign a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
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
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 Concord, NC Solar Cost FAQs
What is the average cost of installing solar panels in Concord?
The average cost of solar panels in Concord is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Concord?
You can’t get solar panels for free in Concord. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $904.00 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.