Solar Panel Cost Guide in Hillsborough, NC (2024 Update)
- Hillsborough Solar Installation Cost: $17,128
- 25-Year Savings: $21,415
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Hillsborough
Find out how much it might cost to go solar in Hillsborough.
In Hillsborough, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Hillsborough, most homeowners require a 7.0-kilowatt system. Using the figure above, a solar installation costs about $17,128, or $24,493 before the federal solar tax credit of 0 is applied.
The actual price you pay can go higher or lower than the average in Hillsborough depending on a few factors, such as the brand of solar panels you choose and the solar company you hire.With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Hillsborough find going solar can be quite rewarding.
To receive a free quote from a vetted solar installer in Hillsborough, you can click the button below.
Solar savings over time in Hillsborough
| Year | Return on Investment |
|---|---|
| 1 years | $-15,805 |
| 3 years | $-13,161 |
| 5 years | $-10,517 |
| 7 years | $-7,873 |
| 9 years | $-5,228 |
| 11 years | $-2,584 |
| 13 years | $60 |
| 15 years | $2,704 |
| 17 years | $5,348 |
| 19 years | $7,993 |
| 21 years | $10,637 |
| 23 years | $13,281 |
| 25 years | $15,925 |
Top Solar Installers in Hillsborough
Many homeowners opt for a solar installer since installing solar panels yourself can be challenging. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Hillsborough:
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 Hillsborough
Factors that Affect Solar Panel Costs in Hillsborough
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Hillsborough: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Hillsborough, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Hillsborough are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $13,769 | 13.2 years |
| 8 kW | $3.58 | $20,049 | $18,751 | 12.9 years |
| 10 kW | $3.51 | $24,570 | $23,930 | 12.7 years |
| 12 kW | $3.44 | $28,894 | $29,306 | 12.4 years |
| 14 kW | $3.37 | $33,022 | $34,878 | 12.2 years |
| 16 kW | $3.30 | $36,953 | $40,647 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,613 | 11.7 years |
| 20 kW | $3.16 | $44,226 | $52,775 | 11.4 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
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 Hillsborough, NC Solar Cost FAQs
How much does it cost to install solar panels in Hillsborough?
The average cost of solar panels in Hillsborough 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 use.
Should I lease or buy solar panels in Hillsborough?
Leasing solar panels can be an option if you can’t afford to pay upfront or get 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 bang for your buck from going solar.
Is going solar worth it?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.
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.