Solar Panel Cost Guide in Goldsboro, NC (2024 Update)
- Goldsboro Solar Installation Cost: $17,187
- 25-Year Savings: $18,970
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Goldsboro
Let’s have a look at the average cost of solar panels in Goldsboro.
The average cost of a solar system in Goldsboro is 4 per watt.Using this figure, a typical 7.0-kW system would cost about $17,187 before the 0 federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you may vary based on your specific situation and what company you go with.With average savings of about $17,000 on power bills over 20 years, many homeowners in Goldsboro find installing solar panels can be quite rewarding.
You can click the button below to get connected with a vetted solar company in Goldsboro for a quote for your home.
Solar savings over time in Goldsboro
| Year | Return on Investment |
|---|---|
| 1 years | $-15,716 |
| 3 years | $-12,774 |
| 5 years | $-9,832 |
| 7 years | $-6,890 |
| 9 years | $-3,948 |
| 11 years | $-1,005 |
| 13 years | $1,937 |
| 15 years | $4,879 |
| 17 years | $7,821 |
| 19 years | $10,763 |
| 21 years | $13,706 |
| 23 years | $16,648 |
| 25 years | $19,590 |
Top Solar Installers in Goldsboro
When making the switch to solar, many homeowners prefer to hire a solar installer since DIY solar panel installation can be a difficult project. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Goldsboro
Factors that Affect Solar Panel Costs in Goldsboro
While the average cost of a solar system in Goldsboro is $17,187, your final cost may be higher or lower than that. There are many 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 consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have 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 model of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to think 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 researching a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.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 a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Goldsboro, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $11,607 | 14.2 years |
| 8 kW | $3.58 | $20,049 | $15,869 | 14.0 years |
| 10 kW | $3.51 | $24,570 | $20,328 | 13.7 years |
| 12 kW | $3.44 | $28,894 | $24,983 | 13.4 years |
| 14 kW | $3.37 | $33,022 | $29,835 | 13.1 years |
| 16 kW | $3.30 | $36,953 | $34,884 | 12.9 years |
| 18 kW | $3.23 | $40,688 | $40,128 | 12.6 years |
| 20 kW | $3.16 | $44,226 | $45,570 | 12.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies carry different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
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 Goldsboro, NC Solar Cost FAQs
How much does it cost to install solar panels in Goldsboro?
The average cost of solar panels in Goldsboro 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Goldsboro?
Solar panels aren’t free in Goldsboro, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is switching to solar power worth it?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses 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.