Solar Panel Cost Guide in Lowell, NC (Sep 2022)

  • Lowell Solar Installation Cost: $12,108
  • 25-Year Savings: $20,492
  • Payback Period: 9.3 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Lowell

Find out what the average cost of installing solar panels is in Lowell.

While the national average of solar panels is $2.66 per watt, solar panels in Lowell typically cost around $3. The average solar panel system size in Lowell is around 6.8 kilowatts, meaning a cost of about $12,108 for a solar installation, or $8,960 after the 30% federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average energy use of Lowell homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find adopting solar power is a solid investment. The average homeowner in Lowell can save around $18,000 on their electricity bills over 20 years.

To get a free estimate from a highly rated solar company in Lowell, you can click the button below.

Solar savings over time in Lowell

Year Return on Investment
1 years $-10,804
3 years $-8,196
5 years $-5,588
7 years $-2,980
9 years $-372
11 years $2,236
13 years $4,844
15 years $7,452
17 years $10,060
19 years $12,668
21 years $15,276
23 years $17,884
25 years $20,492

Top Solar Installers in Lowell

When switching to solar energy, many homeowners choose to go with a solar company since putting up a solar system yourself can be a challenging project. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy needs, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.

If you're looking for a solar company in Lowell, we've compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Lowell

Factors that Affect Solar Panel Costs in Lowell

The cost of installing a solar system in Lowell can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment Size

One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $2,540 per kilowatt in Lowell. There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

If paying for a solar system out of pocket is out of reach, solar loans are a popular route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. Even though solar loans make adopting solar energy more accessible for Lowell homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar company you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Lowell, and each can charge varying amounts for labor and equipment. Additionally, some companies in Lowell have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.

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 $17,621 9.7 years
8 kW $2.59 $14,508 $23,779 9.5 years
10 kW $2.54 $17,780 $30,080 9.3 years
12 kW $2.49 $20,909 $36,523 9.1 years
14 kW $2.44 $23,896 $43,108 8.9 years
16 kW $2.39 $26,741 $49,835 8.7 years
18 kW $2.34 $29,444 $56,704 8.5 years
20 kW $2.29 $32,004 $63,716 8.4 years

Solar Incentives in Lowell

Name Duke Energy - NC Solar Rebate Program
Website Visit here
More Info Click here

Name Property Tax Abatement for Solar Electric Systems
More Info Click here

Name Active Solar Heating and Cooling Systems Exemption
More Info Click here

Name EnergyUnited (Electric) Residential Energy Efficiency Program
Website Visit here
More Info Click here

Name Duke Energy (Electric) - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name NC GreenPower Production Incentive
Website Visit here
More Info Click here

Name Local Option - Financing Program for Renewable Energy and Energy Efficiency
Incentive Amount
More Info Click here

Name Local Option - Green Building Incentives
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar panel company you choose will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:

  • Contract: Review the contract terms carefully to make sure you understand how much it will cost, project timeline rebates and warranties.
  • Solar Panel Brands: The type of solar panel you'd like to get plays a role in which installer you should choose, since different companies have access to different panels.
  • Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Lowell, NC Solar Cost FAQs

How much does it cost to install solar panels in Lowell?

The average cost of solar panels in Lowell is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider other than cost when buying solar panels?

Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

How will installing solar panels impact the value of my home?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lowell is currently $153,122, which means you can look forward to a value of about $6,278 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lowell is a worthwhile investment.

What solar power system size is right for my home?

To figure out what solar panel system size you need, you need to know how much energy your home uses 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 home 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.

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