Solar in North Carolina 2020

North Carolina has some of the cutest beach towns in the United States, and an abundance of sun. Solar in North Carolina has been thriving the past few years and in 2020 North Carolina once again scored the second seat once again in solar power rankings.

The Cost of Solar in North Carolina

On average, the cost of solar in North Carolina is going to range from $11,730 to $15,870. If you want to analyze the cost of solar on a cost per watt ($/W) basis, a solar panel installation in North Carolina is going to range from $2.35 to $3.17. It is going to take you 10.98 years to pay back the cost of solar in North Carolina.

Regardless of the cost of your solar power system, there are going to a lot of affordable financing options for your solar power system. If you can afford it, cash purchases are going to be a common method for homeowners to pay for solar panel installation and will often lead to the most long-term value for your solar panels. But it is understood that a cash purchase isn’t going to be ideal for everyone, so there will be other methods of payment, such as solar loans and solar leases. These are available to help finance your solar panel installation.

2020 Cost of Solar in North Carolina for 5kW Solar Power System

The Average Cost of Solar Panels by Solar Power System in North Carolina

Solar Incentives and Rebates in North Carolina

The Federal Investment Tax Credit (ITC) is one of the best solar incentives across the United States. When it comes to getting a solar panel installation the ITC is going to allow homeowners to deduct 26% of the total cost of solar panels from your federal taxes. The 26 percent tax credit is going to last until the end of 2020, but in 2021, the tax credit is going to fall to 22%, and then in 2022, for residential solar panel installations, the ITC will end and for commercial solar panel installations the ITC will stay at 10%.

In addition to the federal ITC, North Carolina is going to offer additional solar incentives to the homeowners who choose to get a solar panel installation. The solar incentives that are going to be available to you will depend on your area and utility company. Duke Energy offers great solar incentives to North Carolina residents. If you are wondering what solar incentives are going to be available in your area, ask your solar installer, he will know the area and the available solar incentives. North Carolina also has strong net metering programs the make buying solar panels a great investment.

Notable Solar Installations in North Carolina

In North Carolina, there have been large retailers that have switched to solar power including Apple, IKEA, and SAS. In fact, Apple currently has one of the largest solar panel installations in North Carolina. At their location in Maiden, the solar power system has a solar power capacity at 25 MW.  

There is also Carol Jean Solar in Walnut Cove that is among the largest solar panel installations in North Carolina, with 4 MW of solar power capacity. The solar power system generates enough electric capacity to power over 451 homes.