Solar Panel Cost Guide in Cary, NC (2024 Update)
- Cary Solar Installation Cost: $17,099
- 25-Year Savings: $17,724
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Cary
See how much it might cost to install solar panels in Cary.
While the national average of solar panels is $2.66 per watt, solar panels in Cary generally cost around 4.The average Cary homeowner needs a 7.0-kilowatt system, which would cost about $17,099 with the federal tax credit, or $24,452 before the 0 tax credit is applied.
The actual price you pay can go above or below the average in Cary depending on several factors, such as the brand of solar panels you choose and the solar company you hire.With average savings of about $16,000 on energy bills over 20 years, many homeowners in Cary find investing in solar can be quite rewarding.
To get a free estimate from a vetted solar installation company in Cary, you can click the button below.
Solar savings over time in Cary
| Year | Return on Investment |
|---|---|
| 1 years | $-15,655 |
| 3 years | $-12,767 |
| 5 years | $-9,879 |
| 7 years | $-6,991 |
| 9 years | $-4,103 |
| 11 years | $-1,215 |
| 13 years | $1,673 |
| 15 years | $4,561 |
| 17 years | $7,449 |
| 19 years | $10,337 |
| 21 years | $13,225 |
| 23 years | $16,113 |
| 25 years | $19,001 |
Top Solar Installers in Cary
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring a solar panel installer can make converting to solar power much easier. Plus, if you aren’t sure what brand of solar panels and equipment you may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar company in Cary, we've organized a list of our top suggestions here:
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Cary
Factors that Affect Solar Panel Costs in Cary
There are many criteria that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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. Also, if you want extra equipment 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 a popular route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.While solar loans make adopting solar energy more accessible for Cary homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Cary, and each can charge varying amounts for labor and equipment.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also fit into your budget.
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 | $10,617 | 14.8 years |
| 8 kW | $3.58 | $20,049 | $14,549 | 14.5 years |
| 10 kW | $3.51 | $24,570 | $18,678 | 14.2 years |
| 12 kW | $3.44 | $28,894 | $23,003 | 13.9 years |
| 14 kW | $3.37 | $33,022 | $27,525 | 13.6 years |
| 16 kW | $3.30 | $36,953 | $32,243 | 13.4 years |
| 18 kW | $3.23 | $40,688 | $37,158 | 13.1 years |
| 20 kW | $3.16 | $44,226 | $42,269 | 12.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: The brand of solar panel you need plays a role in which company you should opt for, since different companies offer different panels.
- 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.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Cary, NC Solar Cost FAQs
How much does it cost to install solar panels in Cary?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Cary?
Solar panels aren’t free in Cary, 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 you can take advantage of.
Can solar panels eliminate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Cary, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 house 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.