Charlotte Solar Panels: Cost and Local Incentives

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Charlotte solar panels

With the costs of energy rising, you might wonder if it’s time to invest in solar panels. Purchasing solar panels for your home in Charlotte can lead to a lower overall electric bill by helping you produce your own electricity. Solar panels can also help you maintain power during an outage (if you include a solar battery in your system), lower your household’s carbon footprint, and even earn bill credits from your local utility. Read on to learn about the costs of solar panels in Charlotte, local solar incentives, and the savings solar panels could bring you over the years.

Cost of solar panels in Charlotte

The cost of solar panels in Charlotte can vary by installer. For residential solar systems, the U.S. had an average price of $3.67 per watt, according to Berkeley Lab’s Tracking the Sun report. 

The average residential solar panel system size in Charlotte is 9 kW. Charlotte has an average cost of $3.62 per watt for residential systems, slightly lower than the national average. A 9 kW system at the price of $3.62 per watt means you would pay around $32,580 for a solar system in Charlotte.   

How much do solar panels cost in Charlotte?

To start, let’s look at how much you would pay for solar panels in Charlotte based on system sizes. Factors like roof size, how much of your roof is shaded, and how much sun exposure different parts of your roof get can affect the amount of solar panels you need. 

The Tracking the Sun report also listed the median system size for solar arrays in the U.S. as 8.6 kW in 2020. If you were to install an 8.6 kW system at $3.62 per watt, your total cost would be $31,132.

The payback period for solar panels can vary, but you can easily calculate it by subtracting the 30% tax credit from the total system cost and then dividing that number by the average amount you spend on electricity in a year. If you were to pay an average state electric bill of $129.08 a month ($1,548.96 a year), pay $32,580 for the full array, and then apply the 30% federal tax credit, it would take 14.7 years to pay back the array. 

You would also save at least $8,173.20 over the course of 20 years, if you paid the state average $129.08 electric bill and a total cost of $22,806 for the array after the 30% federal credit. Energy costs can increase over time, so you could save more.

Average solar panel cost by system size in Charlotte

The national average cost per watt is currently $3.67. The state of North Carolina’s median costs (last updated in 2020) include:

If you’re wondering what the size of your array would need to be, you’ll need to know how much electricity you’ll use each month. Your electric bill tells you this information in Kilowatt hours (kWh). To know how much you need at different times of the year, check how much energy you use each month for a full year. 

For example, let’s say you used an average of 900 kWh per month after looking at your use each month for a full year. The solar array would need to produce at least that amount of electricity each month. If you were to pay about $125.00 per month at a 14-cent per kWh rate, a 6.5 kW system would produce more energy than you would use, as listed in the calculator through KW Solar.  

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Incentives for solar panels in Charlotte

There are additional incentives available to help Charlotte homeowners afford solar. These programs can help you save thousands, making solar more accessible by offseting the high upfront costs. Read below to learn more.     

These are just a few of the available incentives available in Charlotte. Be sure to check with your local utility for state incentives or city programs.

Solar companies in Charlotte

SaveOnEnergy can connect you with top solar installers in your area. You can also read up on solar panel installation to learn more about installing solar and how that process works. Discover if solar can work for you by filling out the form on this page or calling the number on your screen to speak with an expert.

Is going solar in Charlotte right for you?

Residents of Charlotte have a variety of solar payment and access options. Keep reading to learn how solar can help renters, homeowners, and communities reduce their carbon footprint and gain energy independence.   

Solar for renters

If you’re a renter, the landlord decides if they want to install solar, since they own the property. If the landlord is open to it, you can discuss the benefits of solar with them. Smaller portable options like patio arrays or solar panels for an RV are good alternatives, too. You might also look into inexpensive devices, like solar phone chargers. 

Solar for homeowners

If you own your property, purchasing your solar panels will lead to the most savings over time. You are only eligible for most solar incentives and rebates if you purchase your system. However, there is financial assistance available if buying upfront is currently out of reach. A popular financing option is solar power purchase agreements (PPAs). These are contracts that let a solar developer manage and install the system on your property. As the homeowner, you would then use the electricity the system creates.  

Some homeowners choose more conventional financing options. Installers might offer options for leasing the full array. You might look into other financing options, such as cash-back refinancing, home equity lines of credit, or home equity loans.

Also consider purchasing a solar battery. Adding a battery to your system will ensure you have a reserve of power in case of a power outage.

Community solar

For anyone who does not want the upfront costs and burdens of installing solar on their roofs, they can look into community solar in cities. Community solar is a plan that lets residents subscribe to a large off-site solar farm. That electricity is then delivered to the homes of subscribers in place of electricity generated by traditional methods like gas and coal. Many people seek this option, as it can be a more affordable way to go solar without the upfront costs. 

Community solar can also help homeowners who cannot install solar on their property, such as if the home has a shaded or older roof that can’t support the weight of the panels.