Benefits of Solar Energy
Solar energy has multiple advantages that will enhance your home for years to come.
- Lowered energy bills: Solar panels allow you to generate your own energy to power your home, lowering your periodic electricity costs. You can eliminate your bills completely if you go off-grid. Plus, a significant number of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Better energy independence: Adding a solar battery storage system lets you have reliable energy during grid outages and storms.
- Reduced carbon footprint: The sun is a highly abundant clean energy source, meaning you can reduce or eliminate your home's dependence on fossil fuels.
What Solar Incentives Are Available to Charlotte Homeowners?
North Carolina homeowners who decide on solar could qualify for special financing, rebates, tax credits and reimbursements. Here are just a few of the region's incentive programs.
Incentive Type: Rebate Program
Website: duke-energy.comIncentive Amount:
Residential: $0.60/W-AC
Nonresidential: $0.50/W-AC
Nonprofit: $0.75/W-AC
Incentive Type: Property Tax Incentive
Incentive Amount:
Residential systems: 100% of the appraised value
All other systems: 80% of the appraised value
Incentive Type: Property Tax Incentive
Incentive Amount:
No more than conventional equipment
Incentive Type: Rebate Program
Website: energyunited.comIncentive Amount:
Heat Pumps (15 SEER): $150/unit
Heat Pumps (16 SEER): $300/unit
Incentive Type: Rebate Program
Website: duke-energy.comIncentive Amount:
Central Air Conditioning or Heat Pump: $300 - $400 + $50 with added smart thermostat
Geothermal Heat Pump: $400 + $50 with added smart thermostat
Heat Pump Water Heater: $350
Attic Insulation or Attic Air Sealing: $250
Duct Sealing: $100
Variable-Speed Pool Pumps: $300
Incentive Type: Performance-Based Incentive
Website: ncgreenpower.orgIncentive Amount:
Varies by technology and system size
PV larger than 5 kW: must enter bid process
Wind up to 10 kW: $0.09/kWh
Wind larger than 10 kW: must enter bid process
Incentive Type: Loan Program
Incentive Type: Green Building Incentive
Incentive Amount:
Authorized by legislation for green buildings. Actual permit process to be determined by local government.
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Charlotte
Choosing a company is the first step toward an effective and cost-efficient solar array. Make your choice based on the following crucial aspects.
Licensing and Training
A licensed electrical contractor in North Carolina may manage home solar photovoltaic installations in North Carolina if they have the pertinent classification from the North Carolina State Board of Examiners of Electrical Contractors. You should also visit a company's website to learn about its private credentials. Two of the most prestigious are the PV Installation Professional and Solar Heating Installer certificates, granted by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Charlotte
Your solar panels' style will influence how much power you can produce. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can maximize your solar system's efficiency. Not all solar companies offer these add-ons, so look for a contractor that installs them if it's essential for you.
You can plan to spend about $17,550 on average for a five-kilowatt solar energy system in Charlotte. Use the table in this section to get an idea of how much Charlotte solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,243 |
| Solar Polycrystalline | $969 |
| Thin-Film | $567 |
| Solar Battery | $795 |
| Solar Home EV Charger | $2,983 |
Financing Solar Energy in Charlotte
Choosing the right financing plan will affect your overall solar system cost and possible savings. Common payment options include leases, power purchase agreements, cash payments, and loans. Though it involves a large up-front payment, cash is the most economical choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the runner-up option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a PPA lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be suitable in particular circumstances. Look for installers that offer several payment plans to find the right fit for your wallet.
The table below lists the average payback periods for different capacities of solar systems in Charlotte.
The IRS allows you to claim a 26% federal solar tax credit on total system costs, so long as you purchase it before 2032. Municipal authorities and utilities might also offer their own incentives, financing programs, and rebates that could save you more money.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.1 years |
| 2 kW | 4.2 years |
| 5 kW | 10.4 years |
| 10 kW | 20.8 years |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Charlotte
How much money could I save by going solar in Charlotte?
How widespread is solar energy in Charlotte?
Will solar energy systems boost my Charlotte home price?
How long will a common solar system last?
What size should my new Charlotte solar system be?
How long does it take to pay back a solar loan in Charlotte?
How can I enhance my solar system's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
What is "net metering," and how does it work?
Some states or utilities require you to join net metering when installing your solar system, while others give you a choice. Either way, once you join, you'll receive a check or bill credit for your excess generation at a wholesale or retail rate.
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.
