Solar Panels Cost 11k-20k in Fuquay-Varina, NC | October, 2024

Solar Panels Cost $11k-$20k in Fuquay-Varina, NC | October, 2024

High Power Bills?

Reduce or replace your electricity bill with solar

How much do solar panels cost in Fuquay-Varina, NC in 2024?

It averages out to $3.24 per watt to go solar in October, 2024 in Fuquay-Varina, NC.

For every 1000 watts (1 kW) your solar panels can produce, you will need to spend, on average, $3,240 for its installation. Applying the 30% federal tax credit, the average expense for a 5 kW solar system in Fuquay-Varina is approximately $11,340. Bear in mind that you may need a bigger system to satisfy your energy requirements.

Use the left-hand menu to select your area and see the typical roof size and the maximum capacity for residential solar on homes in your county. Below, you can see a complete outline of 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.
Fuquay-Varina: $11,340US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Fuquay-Varina: 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.
Fuquay-Varina: $20,664US Average: $15,784

Solar Potential in Fuquay-Varina

Estimated system size and solar electricity production per median viable roof in
Fuquay-Varina.

Roof size 590sq. ft.
Capacity 8.25kW DC
Electricity 10.4kkWh AC per yr.

Electricity Costs in Fuquay-Varina, NC & What that Means for Your Solar Panel Pricing

The average electricity bill in Fuquay-Varina, for a usage of 1,027 kWh per month, is $153.60. These numbers take into account apartments and smaller residences with lower energy needs.

For October 2024, the mean electricity rate in Fuquay-Varina, NC is 14.96¢ per kWh.

To satisfy the electricity requirements of an average consumer in Fuquay-Varina, a solar panel system of 9 kW or larger is a must. The starting price for a 9 kW solar system will be $29,160, but after a 30% tax credit, your cost is reduced to $20,412.

Go Solar for less than your cell phone bill.

Average solar panel costs by system size in Fuquay-Varina

On the left side below, you'll find the cost breakdown for different sizes of the solar panel systems set up in Fuquay-Varina. While a more extensive solar installation has a higher price, it also yields higher electricity savings and higher income tax credits.

The solar panel calculator, located below and to the right, gives a detailed cost and benefit analysis based on a typical $153.60 electric bill for Fuquay-Varina. To get custom results, alter the $153.60 to reflect your usual electricity payment.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,128 a year
Est. Price
$11,340
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
$13,608
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
$15,876
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
$18,144
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
$20,412
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

Fuquay-Varina Solar Panel Installation Incentives & Rebates | 2024

Eligible rural small businesses and farmlands might have their solar or wind turbine installation costs covered by the REAP Grant, ranging from 80% to 100%. Unsure if you're eligible? Verify your status with our REAP Grant eligibility tool.

Homeowners can benefit from a 30% federal income tax credit for adding residential solar panels, which makes solar power a feasible option throughout much of the country. Additionally, there are various state and local incentives to further push for the adoption of solar energy.

There are 10 solar incentive and rebate programs in North Carolina, available by different utilities and governmental bodies.

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?

If you're planning to stay in your home past the period required to pay back your solar investment, installing solar panels is a good decision in Fuquay-Varina. A 5 kW solar system in Fuquay-Varina, NC might save you an average of $25,524 over 20 years, with the break even point typically being 6 years.

The cost of not having solar panels in Fuquay-Varina, NC

Without solar panels or another backup power source, you lose out on the previously noted savings and are entirely dependent on your electric utility for electricity. As recent news articles have pointed out, total reliance on your utility provider isn't always ideal.

In recent years, Fuquay-Varina has seen an average of 1.16 utility outages per customer each year. The average length of an outage is 131.46 minutes. In events like planned maintenance, equipment failure or thunderstorms, this duration can extend significantly.

Regardless of whether a backup battery is present, a solar panel system could reduce the impact of future power outages you might experience.

Power Outages

Currently, 0 customers are being tracked in Wake County.

Learn more

Customers Out:

0

Go Solar for less than your cell phone bill.

What impacts the cost of solar panels in Fuquay-Varina, NC?

Your Energy Needs - When opting for larger solar panel systems, the overall expense is larger; however, the cost per watt diminishes with an increase in system size. Setting up a solar panel system that can cover the electric bill is useful to consumers because of the reduced long-term costs.

Make & Model - There are a range of makes and models of solar panels and mounting equipment. Because the installer you select might have specific system preferences, selecting a highly rated contractor is even more important. The employment of high-quality materials is probably will yield a more positive long-term experience for buyers.

Solar Panel Type - It's not surprising that monocrystalline panels are now the industry standard. They are associated with a higher price, but they provide more energy. Most solar panel installers choose this kind of material.

Your Property - Things like trees, sloping terrain, or other impediments may cause the installation to be more challenging. By using satellite imagery, solar installers can now assess your home and factor in these factors into the first cost estimate.

Labor Rates - The varying wages that companies offer their employees lead to costs that are inevitably passed on to consumers. Companies often garner higher reviews for their services and customer service when they pay higher wages.

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

See what solar panels cost in other NC cities

Go Solar for less than your cell phone bill.

Who are the best solar installers in Fuquay-Varina?

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.

Fuquay-Varina, NC Solar Panel Cost FAQs

  • As of October, 2024, the typical cost for solar panels in Fuquay-Varina, NC is $3.24/W. For a 5 kW solar panel system, the total cost in Fuquay-Varina, NC after federal tax credits is around $11,340.
  • If you live in North Carolina, you can find 10 rebates and incentives through different utilities and government agencies. Also, nearly everyone can take advantage of the 30% federal tax credit.
  • While paying cash ensures the greatest savings, there are now numerous financing options for solar panels that are also cost-effective. Initial quotes from installers will frequently contain information about available financing options.
  • Yes, in Fuquay-Varina, NC, the average time for 5 kW solar panel systems to pay for themselves is 6 years, leading to electricity savings of $25,524 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01