Best Solar Companies in New Bern

In a nutshell

1. Is It Worth Going Solar in New Bern, North Carolina? Yes, solar is a great option for most homeowners in New Bern, North Carolina.
2. How Much Does Solar Save Homeowners in New Bern, North Carolina? The average homeowner saves about $2,867 over 20 years on electricity costs with a 5 kW system.
3. What Is the Average Cost of Going Solar in New Bern, North Carolina? The average cost of a 5 kW solar panel system in New Bern, NC, before incentives, is about $13,336.
4. New Bern, North Carolina Solar Incentives North Carolina offers a great net metering program and the federal solar investment tax credit (ITC).
5. Net Metering Current net metering rates are available through 2026 for those who submit a net metering application by October 1, 2023.
6. Will Solar Increase Your Home Value in New Bern, North Carolina? Yes, solar panel installation can increase your home’s property value.
7. What Are Your Solar Financing Options? There are several financing options available, including home improvement loans or home equity loans.

Should I go solar in New Bern? What are the financial benefits?

Going solar in New Bern, North Carolina can be a great decision, both for the environment and your wallet. Here are some financial benefits and incentives that you can take advantage of:

1. Federal Tax Credits: The federal government offers a tax credit that can reduce the cost of your solar system. This can significantly lower the overall cost of your solar installation.
2. Savings: The average homeowner in New Bern saves approximately $1,507 per year with solar panels1. Over the lifetime of their solar system, the average homeowner saves $24,7942.
3. Electricity Rates: The average electricity rate in North Carolina is 12.71 cents per kilowatt-hour, and solar panels can help offset these costs.
4. Solar Installations: North Carolina ranks 4th in the country for solar installations.
5. Duke Energy – NC Solar Rebate Program: Duke Energy offers a rebate program where residential customers can get $0.60/W-AC.
6. Local Option – Financing Program for Renewable Energy and Energy Efficiency: This is a loan program that can help finance your solar installation.
7. Duke Energy Progress – Residential Energy Efficiency Rebate Program: This program offers various rebates for energy-efficient installations.
8. Active Solar Heating and Cooling Systems Exemption: This is a property tax incentive that can reduce the cost of your solar system.
9. EnergyUnited (Electric) Residential Energy Efficiency Program: This is another rebate program that can help reduce the cost of your solar system.
10. NC GreenPower Production Incentive: This is a performance-based incentive that varies by technology and system size.

*Please note that these are average costs and the actual cost can vary depending on various factors such as the specific solar panels you choose and the solar contractor you hire. It’s always a good idea to get multiple quotes to ensure you’re getting the best deal.

How much does solar save homeowners in New Bern, North Carolina?

1. Average Cost of Electricity in New Bern, NC: On average, residents of New Bern, NC spend about $164 per month on electricity. That adds up to $1,968 per year. The average residential electricity rate in New Bern, NC is 13 ¢/kWh.
2. Savings with Solar Panels: Solar panel installation provides New Bern residents with a relatively quick ROI by immediately reducing or eliminating your electric bill. If you install a solar system, on average, you’ll break even on your solar investment in 12.52 years in New Bern, at which point you may not owe anything on your electric bills. Assuming a 1.9% annual increase in electricity prices and that you install your system with a $0-down loan, you can expect to save $2,000 in your first year, $10,200 over five years, $21,500 over 10 years, and $47,400 over 20 years on electric bills in New Bern, NC.
3. Net Metering Policies in North Carolina: North Carolina has a net metering policy that allows solar system owners to receive credits for the excess electricity they generate and feed back into the grid. However, on March 23, 2023, the North Carolina Utilities Commission approved new net metering rules that will lower solar savings for Duke Energy customers. The changes to net metering in North Carolina are anticipated to reduce the average solar shopper’s savings by approximately 20 percent. Luckily, residents of North Carolina can lock in current net metering rates through 2026 by deciding to go solar and submitting a completed interconnection application by October 1, 2023.

Payback Period and ROI

The payback period is the time it takes for a solar energy system to earn back its initial cost through energy savings. The average payback period in New Bern, NC, is around 13 years. This is slightly above the national average of 12 years. However, this can vary depending on factors such as the cost of electricity, incentives, climate, and the angle at which the sun hits your roof1.

Return on Investment (ROI): If you pay for your system with cash, you’ll save about $2,867 over 20 years on electricity costs with a 5 kW system in New Bern, NC. This estimate is based on real solar quote data from the marketplace and considers your system’s cost, the federal tax credit, and inflation rates. If you finance your system with a loan, some companies even offer $0-down loans so you can start saving on day one if your loan payments are less than your current electric bills.

What is the average cost of going solar in New Bern, North Carolina?

The average cost of a solar panel system in New Bern, NC, is approximately $2.67 per watt. For a 5 kW installation, this comes out to about $13,336 before incentives. Prices range from $11,336 to $15,3361. After the federal tax credit, the average price drops by 30%.

Here’s a table that provides an estimate of the cost and output performance for different system sizes:

• 3 kW System:
  • Cost (before ITC): $8,002
  • Cost (after ITC): $5,601
  • Estimated Output (kWh/day): 3.6
• 4 kW System:
  • Cost (before ITC): $10,669
  • Cost (after ITC): $7,468
  • Estimated Output (kWh/day): 4.8
• 5 kW System:
  • Cost (before ITC): $13,336
  • Cost (after ITC): $9,335
  • Estimated Output (kWh/day): 6.0
• 6 kW System:
  • Cost (before ITC): $16,003
  • Cost (after ITC): $11,202
  • Estimated Output (kWh/day): 7.2
• 7 kW System:
  • Cost (before ITC): $18,670
  • Cost (after ITC): $13,069
  • Estimated Output (kWh/day): 8.4
• 8 kW System:
  • Cost (before ITC): $21,337
  • Cost (after ITC): $14,936
  • Estimated Output (kWh/day): 9.6
• 9 kW System:
  • Cost (before ITC): $24,005
  • Cost (after ITC): $16,803
  • Estimated Output (kWh/day): 10.8
• 10 kW System:
  • Cost (before ITC): $26,672
  • Cost (after ITC): $18,670
  • Estimated Output (kWh/day): 12.0

The estimated output is calculated based on the average peak sunlight hours in New Bern, NC, which is approximately 5 hours per day. The output is also adjusted for a 25% system loss, which accounts for factors such as shading, dust, and system inefficiencies.

*Please note that these are rough estimates and the actual costs and savings can vary based on factors such as your specific location, the size and orientation of your roof, the amount of sunlight your home receives, and local electricity rates1.

New Bern Solar Incentives & Rebates

Here are some of the solar incentives, tax credits, and rebates available in New Bern, North Carolina:

1. Duke Energy – NC Solar Rebate Program: This program offers a rebate of $0.60/W-AC for residential installations.
2. Local Option – Financing Program for Renewable Energy and Energy Efficiency: This is a loan program authorized by legislation for green buildings.
3. Duke Energy Progress – Residential Energy Efficiency Rebate Program: This program offers various rebates for energy-efficient appliances and systems1.
4. Active Solar Heating and Cooling Systems Exemption: This is a property tax incentive program.
5. EnergyUnited (Electric) Residential Energy Efficiency Program: This program offers rebates for energy-efficient heat pumps.
6. NC GreenPower Production Incentive: This is a performance-based incentive that varies by technology and system size.
7. Jones-Onslow EMC – Residential Energy Efficiency Rebate Program: This program offers rebates for energy-efficient appliances and systems.
8. Federal Solar Investment Tax Credit (ITC): U.S. homeowners can receive 30% of the cost of their solar panel systems as a credit on their federal tax returns.
9. Property Tax Abatement for Solar Electric Systems: North Carolina does not tax you for the increase in property value realized by installing photovoltaic (PV) solar panels.
10. Financing Program for Renewable Energy and Energy Efficiency: North Carolina has a law that enables revolving loan programs from cities and counties, with a maximum interest rate of 8% and a maximum term of 20 years.

*Please note that these programs are subject to change and it’s recommended to check with the relevant authorities or a local solar installer for the most up-to-date information.