Solar Panels Cost 11k-20k in Castle Hayne CDP, NC | October, 2024

Solar Panels Cost $11k-$20k in Castle Hayne CDP, NC | October, 2024

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How much do solar panels cost in Castle Hayne CDP, NC in 2024?

Going solar costs approximately $3.27/W in the month of October, 2024 in Castle Hayne CDP, NC.

Based on the cost per watt, you can conclude that for every 1 kW (1000 watts) of solar power capacity will require an investment of $3,270 for installation. A 5 kW solar panel install in Castle Hayne CDP is typically around $11,445 after accounting for the 30% federal income tax credit. However, it’s vital to realize that a higher capacity system may be necessary to adequately cover your energy needs.

On the left-hand side, you can choose your county to find out the typical roof size and the maximum capacity for solar panels in residences in your area. Outlined below are the costs, payback period, and 20-year average savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Castle Hayne CDP: $11,445US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Castle Hayne CDP: 6 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Castle Hayne CDP: $20,514US Average: $15,784

Solar Potential in Castle Hayne CDP

Estimated system size and solar electricity production per median viable roof in
Castle Hayne CDP.

Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 14.5kkWh AC per yr.

Electricity Costs in Castle Hayne CDP, NC & What that Means for Your Solar Panel Pricing

The average monthly electricity cost for a Castle Hayne CDP consumer is $153.60, with an average usage of 1,027 kWh. Please note that this statistic covers smaller living spaces such as apartments, with less energy demands.

Castle Hayne CDP, NC's electricity rate is on average 14.96¢ per kWh in October 2024.

Typical consumers in Castle Hayne CDP will need a solar system of 9 kW or larger to meet their entire electricity consumption demands. The price of a a 9 kW solar installation is approximately $29,430 upfront, but the federal tax credit provides a 30% credit, lowering your final cost to $20,601.

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Average solar panel costs by system size in Castle Hayne CDP

On the left side below, the price breakdown for multiple sizes of the solar panel systems set up in Castle Hayne CDP can be seen. With larger solar systems, the price goes up, but so do the electricity savings and the income tax credits you can gain.

In the calculator located to the right and below, you will find a breakdown of solar panel costs and benefits, calculated with an average $153.60 electric bill for Castle Hayne CDP. If you want more customized results, just modify the $153.60 to whichever your typical electricity bill is.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,128 a year
Est. Price
$11,445
Savings from a 5kWthis system
  • Est. yearly production 7,520 kWh
  • Est. monthly savings $94
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 2.49 tons a year
  • Equivalent to planting 114 trees a year
  • Equivalent to driving 6,164 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,354 a year
Est. Price
$13,734
Savings from a 6kWthis system
  • Est. yearly production 9,024 kWh
  • Est. monthly savings $113
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 2.99 tons a year
  • Equivalent to planting 137 trees a year
  • Equivalent to driving 7,397 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,579 a year
Est. Price
$16,023
Savings from a 7kWthis system
  • Est. yearly production 10,528 kWh
  • Est. monthly savings $132
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 3.49 tons a year
  • Equivalent to planting 160 trees a year
  • Equivalent to driving 8,629 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,805 a year
Est. Price
$18,312
Savings from a 8kWthis system
  • Est. yearly production 12,032 kWh
  • Est. monthly savings $150
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 3.98 tons a year
  • Equivalent to planting 183 trees a year
  • Equivalent to driving 9,862 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $2,030 a year
Est. Price
$20,601
Savings from a 9kWthis system
  • Est. yearly production 13,536 kWh
  • Est. monthly savings $154
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 4.08 tons a year
  • Equivalent to planting 187 trees a year
  • Equivalent to driving 10,098 mi less a year

Castle Hayne CDP Solar Panel Installation Incentives & Rebates | 2024

If you're a rural small business or farm owner, you might be eligible for REAP Grant coverage of between 80% and 100% for your solar or wind turbine project. Believe you fall into this category? Verify your qualification with our REAP Grant eligibility tool.

The 30% federal income tax credit for residential solar is offered to most homeowners, which makes solar energy a wise choice in numerous regions nationwide. There are also a range of state and local efforts aimed at increasing solar energy use.

Various utilities and government organizations in North Carolina have 10 solar rebate and incentive programs.

Solar incentives in NC

Duke Energy - NC Solar Rebate Program

Value:Up to $50,000

Any Duke Energy Carolinas/Progress customer who installs a new solar photovoltaic system may be entitled to a rebate. The rebate amount is based on the rated capacity of the system. The rebate program's annual budget covers up to 10 MW of solar energy. 5,000 kW of the total budget is reserved for residential customers, while 2,500 kW is reserved for nonprofits. Additional information is available from the Duke Energy website.

Lumbee River EMC - Residential Weatherization Loan Program

Value:Up to $17,000

Residential customers of the Lumbee River Electric Membership Corporation may be entitled to special financing on energy efficiency improvement projects. Available loan offers and eligible projects will vary from time to time. Currently, financing may be obtained for ductwork, windows, water heating, geothermal pumps, and insulation/weatherization. The maximum available principal is $17,000 at market-rate interest. Loans will be secured either with a cosigner or using a deed of trust as collateral. Standard credit checks apply. Additional information is available from the LREMC website.

Piedmont EMC - Residential Solar and Energy Efficiency Loan Program

Value:Varies

Residential and business Piedmont Electric Membership Corporation customers may be eligible for special financing on new solar water heaters or photovoltaic systems. Loans may be available for other energy efficiency improvements. The maximum available principal for a single loan is $10,000 at 5% interest, to be repaid over seven years. Additional information and a directory of banking and lending partners are available from PEMC's website.

PSNC Energy (Gas) - Green Building Rate Discount

Value:Varies

PSNC offers special incentive rates for home and business customers whose property meets sustainable construction standards. Commercial facilities that have official LEED certification from the US Green Building Council and which are currently charged from Rate Schedule 125 will have a standing discount applied to their bills. To qualify, the property owner should submit a statement from the building's engineer attesting to low energy usage. Homes that have ENERGY STAR certification and which are currently using Rate Schedule 101 can switch to Schedule 102 rates that have the discount already applied. To qualify, homeowners should submit a copy of their ENERGY STAR certificate. Additional information is available from the PSNC website.

Haywood EMC - Residential Heat Pump and Weatherization Loan Program

Value:Varies

Homeowners in the Haywood EMC service area may be entitled to special financing on energy efficiency improvements. Eligible projects for a loan will vary from time to time. Currently, loans may fund insulation/weatherization, windows, central/room HVAC, generators, water heaters, heat pumps, ENERGY STAR certified appliances, and new solar PV/HVAC/water heaters. The maximum available principal is $35,000 at variable APR. As of 2021, interest is 3.90% on a 120-month repayment plan. Standard credit checks apply. Additional information is available from the HEMC website.

South River EMC - Solar Water Heating Rebate Program

Value:Varies

Residential and business customers of the South River Electric Membership Corporation may be entitled to rebates on new solar water heaters. The rebate amount will depend on the size and rated capacity of solar collectors. To qualify, both the solar panels and the heating module should meet Solar Rating and Certification Corporation (SRCC) standards. The system should be interconnected to the grid and have safety controls to prevent both overheating and freezing. Once a customer purchases and installs their system, they have 90 days to schedule a final utility inspection and thus claim their rebate. Additional information is available from the SREMC website.

Renewable Energy and Energy Efficiency Portfolio Standard

Value:Varies

North Carolina has both a renewable portfolio standard and an energy efficiency portfolio standard; together, they are referred to as "REPS". As of 2021, standard benchmarks require at least 12.5% of the state's retail energy to be generated from renewable sources. At least 60% of standard investment must be through new renewable energy; the remainder can be used for energy efficiency projects. Carve-outs require renewable investment to include a required proportion of solar and poultry/swine waste technologies. Compliance is measured through a Renewable Energy Credit (REC) system pegging a fixed amount of electricity to a variable dollar value. To meet their portion of the standard, utilities must either purchase credits from customers through net metering or generate them using their own renewable energy facilities. Credits expire after three years. Additional information is available from the North Carolina Utilities Commission website.

Blue Ridge EMC - Net Metering

Value:Varies

Residential customers of the Blue Ridge Electric Membership Corporation may be eligible for solar or wind net metering. Hydroelectric net metering may be available for systems rated below 25 kW. Parties to a net metering contract will be compensated for their net excess generation (NEG) at the full retail rate; however, they may be subject to higher facilities charges and minimum bills. Additional information is available from the BREMC website.

Four-County EMC - Residential Energy Efficiency Rebate Program

Value:Varies

Residential customers of the Four-County Electric Membership Corporation may be entitled to rebates on large appliances. Available rebate offers will vary from time to time. Currently, a flat $50 incentive may be claimed for new fridge/freezers, washer/dryers, dishwashers, and heat pumps at or over 16 SEER. It does not matter whether the appliance is completely new or if it will replace an older unit. To apply, proof of purchase is required. Additional information is available from the FCEMC website.

NC GreenPower Production Incentive

Value:Varies

NOTE: Applications are no longer accepted for small solar devices. NC GreenPower is a public incentive program administered by the state government in partnership with private utilities. The program effectively creates a large-scale power purchasing agreement (PPA) for owners of solar, wind, biomass, and hydroelectric systems not participating in a net metering contract. Participants will receive compensation for the energy they produce and export to the grid at a fixed per-kilowatt rate. Rate schedules depend on what technology is used to generate the energy. Additional information is available through the NC GreenPower website.

Are solar panels worth it in North Carolina?

For those in Castle Hayne CDP looking to stay in their homes past the payback period of their solar system, solar panels make perfect sense. A 5 kW solar system in Castle Hayne CDP, NC might save you an average of $25,419 over 20 years, with the break even point typically being 6 years.

The cost of not having solar panels in Castle Hayne CDP, NC

Forgoing the installation of solar panels or an alternative backup energy source results in missing the earlier mentioned savings and total reliance on your electric utility for power. Several recent examples in the news have revealed that total dependence on your utility company isn't always ideal.

There are about 1.16 outages per customer annually in Castle Hayne CDP. The typical duration of each outage is 131.46 minutes. When significant events such as tornadoes, equipment failure, or construction accidents occur, these time frames can become much longer.

Owning a solar panel system, with or without a backup battery, could reduce the strain of any future outages you may encounter.

Power Outages

Currently, 0 customers are being tracked in New Hanover County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Castle Hayne CDP, NC?

Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is greater. Individuals often realize that installing a solar system to offset their electric bill is a beneficial decision, resulting in the most savings.

Make & Model - Solar panels are offered in a range of makes and models. The potential system preferences of your selected installer make it crucial to pick a highly rated company. For a better long-term experience, buyers should consider superior quality makes and models.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. They have a higher price but are better at generating energy. The majority of solar panel installers use panels made of this material.

Your Property - Each property and home presents unique challenges. Trees, irregular terrain, or other impediments may complicate the installation process. Today, the many solar installers can evaluate your home with satellite images and factor in these factors in the preliminary cost estimate.

Labor Rates - The varied employee wages paid by companies cause costs that consumers ultimately paying . Companies that invest in higher wages often see higher reviews for their work and customer service.

Permitting & Interconnection - Permitting and utility interconnection fees vary locally and will impact your installation cost. Quality local installers will include these figures in your first estimates to ensure transparency.

See what solar panels cost in other NC cities

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Who are the best solar installers in Castle Hayne CDP?

Freedom Forever

Temecula, CA(800) 685-1850

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Eagle Solar and Light

Birmingham, AL(205) 202-2208

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Reparation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of solar arrays.
  • Auditing of energy requirements for independent energy generation.

8MSolar

Wake Forest, NC(919) 372-0315

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Reparation of solar arrays.

Yes Solar Solutions

Cary, NC(919) 925-4707

Services

  • Monitoring of independent energy generation.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.

Powur PBC

Del Mar, CA(866) 467-6987

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Micrometer Engineering

Scottsdale, AZ(602) 790-5749

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Renu Energy Solutions

Charlotte, NC(336) 565-7291

Services

  • Installation of solar arrays.
  • Reparation of batteries.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

IonSOLAR

Provo, UT(888) 781-7074

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

SolFarm Solar co.

Asheville, NC(828) 332-3003

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Go Solar Power

Boca Raton, FL(800) 530-9597

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Auditing of energy requirements for independent energy generation.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Reparation of solar arrays.
  • Installation of solar arrays.

Solar Energy World

Elkridge CDP, MD(866) 856-4580

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.

Entero Energy

Austin, TX(512) 551-0742

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Consulting on all things solar related.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Cape Fear Solar Systems

Wilmington, NC(910) 409-5533

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of solar arrays.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Sigora Solar

Charlottesville, VA(434) 465-6192

Services

  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

SunVolt Electric

Boone, NC(828) 773-2008

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

PE Solar

Tempe, AZ(480) 264-0690

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

NC Solar Now

Raleigh, NC(919) 833-9096

Services

  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

R&C Construction Solar

Greer, SC(888) 748-9165

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Reparation of solar arrays.
  • Installation of solar arrays.

Precision Renewables

Snyderville CDP, UT(435) 602-4120

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Atomic Solar Energy

Burnsville, NC(866) 704-1187

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Castle Hayne CDP, NC Solar Panel Cost FAQs

  • As of October, 2024, the typical cost for solar panels in Castle Hayne CDP, NC is $3.27/W. After federal tax credits, the installation of a 5 kW solar panel system in Castle Hayne CDP, NC is estimated to cost $11,445.
  • North Carolina offers 10 different rebates and incentives from a range of utilities and government organizations. In addition, nearly all people are eligible for the 30%federal tax credit.
  • Even though paying cash yields the most savings, there are now several financing options for solar panels that also are cost-effective. Initial quotes from installers will frequently detail information about available financing options.
  • Yes, the average 5 kW solar panel payback period in Castle Hayne CDP, NC stands at 6 years, yielding average electricity savings of $25,419 over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01