The cost of solar panels in Winston Salem, NC (2024)

Updated Mar 15, 2024

  • You'll pay an average of $13,407 to install a 5 kilowatt solar panel system in Winston Salem, NC, before incentives.

  • The federal investment tax credit (ITC) lowers that price by 30% of all your solar equipment and installation costs.

  • With EnergySage's competitive marketplace, you can expect to see prices up to 20% lower than if you work with a single company.

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Written by: Emily Walker

As of April 2024, the average solar panel system costs $2.68/W including installation in Winston Salem, NC. For a 5 kW installation, this comes out to about $13,407 before incentives, though prices range from $11,396 to $15,418. After the federal tax credit, the average price drops by 30%.

Average price of a 5 kW solar panel installation in Winston Salem, NC

Good Price
$11,396 or less
Market Average
$13,407
High Price
$15,418 or more

You'll probably pay even less than what we show here. It doesn't include the federal ITC or Winston Salem, NC state incentives, which will lower this price by at least a few thousand dollars.

Your solar panel cost depends on your system's size

It may seem obvious but larger solar panel systems cost more money. We use cost per watt ($/W) so you can easily compare quotes, controlling for slight variations in system size.

While a 5 kW system will only cost you $13,407 in Winston Salem, NC, doubling the system size effectively doubles the price, so you'll pay about twice that for a 10 kW system. The higher the price tag, though, the more you'll get back as a credit towards your federal tax bill.

Average solar cost by system size in Winston Salem, NC

System Size
System Cost
System Cost (after ITC)
3 kW$8,044$5,631
4 kW$10,725$7,508
5 kW$13,407$9,385
6 kW$16,088$11,262
7 kW$18,770$13,139
8 kW$21,451$15,016
9 kW$24,132$16,893
10 kW$26,814$18,770

Are solar panels worth it in Winston Salem, NC?

Solar panels are worth it in most areas, including Winston Salem, NC. Certain factors, including the cost of electricity, incentives, climate, and the angle at which the sun hits your roof impact how quickly you break even on your investment relative to other areas around the U.S. 

If you pay for your system with cash, you'll save about $27,399 over 20 years on electricity costs with a 5 kW system in Winston Salem, NC. We generate this estimate based on real solar quote data from our Marketplace. It considers your system's cost, the federal tax credit, and inflation rates.

Payback Period
10.87 Years
20-Year Savings
$27,399
Cost-per-Watt
$2.68

If you can't shell out $13,407 in cash to pay for solar, don't sweat it. You can choose to finance your system with a loan instead. 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. Just keep in mind that your long-term savings will be lower with a loan due to interest rates.

Find out what solar panels cost in your area in 2024
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The numbers we're showing are averages. The price you'll pay for solar depends on many factors unique to you and your home:

If you're looking for solar companies in NC, here are some popular suggestions:

  • Olympus Home
    Multi-state
    Established 2019
    Elite Installer
    Olympus Home is a leading installer of solar and roofing in the southeast. We handle everything you need to tran...
    Elite Installer
    Screened & Verified
    5.0 /5.0
    10 Reviews

    Olympus Home is a leading installer of solar and roofing in the southeast. We handle everything you need to tran...
  • Renu Energy Solutions
    Charlotte, NC
    Established 2010
    Elite Installer
    For over a decade, Renu Energy Solutions has been a leader in the Carolina's as a premier solar installer with mo...
    Elite Installer
    Screened & Verified

    For over a decade, Renu Energy Solutions has been a leader in the Carolina's as a premier solar installer with mo...
  • 8MSolar
    Cary, NC
    Established 2015
    Elite Installer
    8MSolar aims to provide environmental and financial sustainability through solar energy systems.

    We are a Chapter...
    Elite Installer
    Screened & Verified

    8MSolar aims to provide environmental and financial sustainability through solar energy systems.

    We are a Chapter...
  • Sunshine Saves Inc.
    Charlotte, NC
    Established 2012
    Elite Installer
    Our main focus is always on quality, both with equipment used and the installation performed. We offer the best w...
    Elite Installer
    Screened & Verified
    5.0 /5.0
    15 Reviews

    Our main focus is always on quality, both with equipment used and the installation performed. We offer the best w...
  • Solar SME, Inc.
    Charlotte, NC
    Established 2011
    Elite Installer
    Things to Consider While Going Solar

    First thing to keep in mind when going solar is purchasing the right solar pa...
    Elite Installer
    Screened & Verified

    Things to Consider While Going Solar

    First thing to keep in mind when going solar is purchasing the right solar pa...

Solar is a major purchase, but you can get the price tag to come down a bit by being an educated shopper. Taking advantage of incentives and rebates and shopping around for quotes can bring down your cost of solar in Winston Salem, NC.

Take advantage of federal and local solar incentives

As long as your federal tax bill is high enough, you can take advantage of the federal tax credit in Winston Salem, NC. This incentive allows you to apply 30% of your solar installation and equipment costs toward your federal tax bill. If the amount exceeds your tax bill, you can roll over the remaining credit to the following year. Many states also offer great local incentives and rebates.

Get quotes from multiple installers

Comparing multiple solar quotes can save you money through competition and transparency. Each additional quote you receive for solar will help you find the right solar panel system at the right price.

This is where EnergySage can help. With funding from the Department of Energy’s SunShot Prize, EnergySage opened the country’s first (and now the largest) marketplace for home solar panel installations. We gather custom solar quotes from local installers on your behalf and put them in an easy-to-compare format. When you compare quotes for solar panels on the EnergySage Marketplace, you can expect to see prices up to 20% lower than if you work with a single solar company.

Why shop with EnergySage?

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