Solar Panel Cost Guide in Morganton, NC (2024 Update)
- Morganton Solar Installation Cost: $17,063
- 25-Year Savings: $20,574
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Morganton
Find out what the average cost of a solar system is in Morganton.
The national average cost of solar panels is $2.66 per watt, but in Morganton it’s 4 per watt.Using this figure, a typical 6.9-kW system would cost about $17,063 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Morganton based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.Even with the large initial cost, the average Morganton homeowner can save around $18,000 on their energy bills over 20 years, which is one of the benefits of solar.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Morganton
| Year | Return on Investment |
|---|---|
| 1 years | $-15,740 |
| 3 years | $-13,096 |
| 5 years | $-10,452 |
| 7 years | $-7,808 |
| 9 years | $-5,163 |
| 11 years | $-2,519 |
| 13 years | $125 |
| 15 years | $2,769 |
| 17 years | $5,414 |
| 19 years | $8,058 |
| 21 years | $10,702 |
| 23 years | $13,346 |
| 25 years | $15,990 |
Top Solar Installers in Morganton
Although you can install solar panels yourself, it takes extra effort and handiness. Because of that, almost all homeowners choose to hire a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
Working with a vetted solar company can make going solar easier. 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 Morganton
Factors that Affect Solar Panel Costs in Morganton
Though the average cost of a solar system in Morganton is $17,063, your final 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 solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,510. There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Morganton to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can play a part in determining the cost. Morganton’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $13,112 | 13.5 years |
| 8 kW | $3.58 | $20,049 | $17,876 | 13.2 years |
| 10 kW | $3.51 | $24,570 | $22,836 | 13.0 years |
| 12 kW | $3.44 | $28,894 | $27,993 | 12.7 years |
| 14 kW | $3.37 | $33,022 | $33,347 | 12.4 years |
| 16 kW | $3.30 | $36,953 | $38,897 | 12.2 years |
| 18 kW | $3.23 | $40,688 | $44,643 | 11.9 years |
| 20 kW | $3.16 | $44,226 | $50,586 | 11.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Installation Process: When making the switch to solar, it’s necessary to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before deciding.
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 Morganton, NC Solar Cost FAQs
What is the average cost of installing solar panels in Morganton?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Morganton?
Leasing solar panels can be an option if you are unable to pay upfront or secure 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.
How will installing solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Morganton is currently $233,983, which means you can expect a value of about $9,593 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Morganton is a fruitful investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.