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North Carolina Solar: 3 Things You Need To Know

by Steve Smith
Published: Last Updated on 181 views

Are you planning to make the switch to solar energy in North Carolina? If so, you’ll be joining the thousands of other homeowners who are likewise planning to install solar panels on their properties in 2022. There are many great reasons to go solar in the Tar Heel State, from the savings on energy bills to playing your part in protecting the planet.

In this blog post, we will highlight 3 things you need to know about North Carolina solar. From the average upfront cost of installation to potential savings and available tax credits, keep reading to inform yourself on solar in North Carolina.

Affordable Upfront Costs

Solar panel costs have fallen significantly in recent years. The average cost of purchase and installation is now around 60% lower than it was just a decade ago. For Beaufort County in North Carolina, the average cost of installing a 5.3 kW solar system would be between $10,000 and $12,300.

There are a number of factors that will determine the exact cost of installing solar panels. These include property location, property size, current energy usage, and choice of solar panel installation.

Save Tens of Thousands of Dollars

For the majority of homeowners, the primary benefit of solar panels is the potential to save on energy bills. To give a specific example for North Carolina, let’s look again at Beaufort County. For a property with an average utility bill of $175, the recommended solar system size would be 5.3 kW.

The net profit over 25 years (which is the savings minus the upfront installation costs) would be between $44,000 and $54,000. The even better news is that solar panels can continue to effectively generate electricity for upwards of 40 to 50 years with proper care and maintenance. This translates into even greater savings potential in the long term.

Estimate your savings here!

Take Advantage of Solar Incentives

Residents in North Carolina who install solar panels on their property in 2022 can avail of the federal solar tax credit, which stands at 26%. This credit will cover the cost of purchase and installation and represents a significant upgrade saving for homeowners.

The federal solar tax credit is due to decrease to 22% in 2023. At the end of next year, unless it is renewed by Congress, it is due to finally expire. Therefore, it is recommended that you take advantage of the 26% rate and install solar panels this year.

Discover the Benefits of North Carolina Solar for Yourself

As this article has highlighted, switching to solar energy in North Carolina is a wonderful option. If you are keen to reduce your carbon footprint and reduce your energy bills, solar is undoubtedly the way to go. We recommend that you partner with experienced North Carolina solar companies to ensure that you get a quality solar panel system that saves you money on your energy bills.

Like this blog post on North Carolina solar? Be sure to check out our other informative articles on a wide range of interesting topics.

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