Solar Panel Cost Guide in Etowah, NC (2023 Update)
- Etowah Solar Installation Cost: $12,197
- 25-Year Savings: $23,604
- Payback Period: 8.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Etowah
Let's take a look at the average cost of solar panels in Etowah.
Although the national average of solar panels is $2.66 per watt, solar panels in Etowah typically cost around 2.54. Using this figure, a typical 6.9-kW system would cost about $12,197 before the 30% federal solar tax credit is applied.
The actual price you pay can go above or below the average in Etowah based on several factors, such as the model of solar panels you choose and the solar contractor you hire. With typical savings of about $20,000 on electricity bills over 20 years, many homeowners in Etowah find going solar can be quite rewarding.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Etowah
| Year | Return on Investment |
|---|---|
| 1 years | $-10,765 |
| 3 years | $-7,901 |
| 5 years | $-5,037 |
| 7 years | $-2,173 |
| 9 years | $691 |
| 11 years | $3,555 |
| 13 years | $6,419 |
| 15 years | $9,283 |
| 17 years | $12,147 |
| 19 years | $15,011 |
| 21 years | $17,876 |
| 23 years | $20,740 |
| 25 years | $23,604 |
Top Solar Installers in Etowah
Many homeowners opt for a solar panel company since installing solar panels yourself can be challenging. Companies can also offer access to a large variety of the best solar panels and help you choose which one will be right for you.
If you're searching for a solar installer in Etowah, we've organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Etowah
Factors that Affect Solar Panel Costs in Etowah
For many Etowah homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Etowah, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,540. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Etowah average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Etowah homeowners choose to finance their solar panel systems to offset upfront costs. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Etowah is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services at different costs. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.64 | $11,095 | $20,204 | 8.9 years |
| 8 kW | $2.59 | $14,508 | $27,222 | 8.7 years |
| 10 kW | $2.54 | $17,780 | $34,384 | 8.5 years |
| 12 kW | $2.49 | $20,909 | $41,687 | 8.4 years |
| 14 kW | $2.44 | $23,896 | $49,133 | 8.2 years |
| 16 kW | $2.39 | $26,741 | $56,721 | 8.0 years |
| 18 kW | $2.34 | $29,444 | $64,451 | 7.8 years |
| 20 kW | $2.29 | $32,004 | $72,323 | 7.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Before you sign a contract with a solar company, be sure to look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Etowah, NC Solar Cost FAQs
What is the average cost of installing solar panels in Etowah?
The average cost of solar panels in Etowah is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Etowah?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is going solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.