Solar Panel Cost Guide in Lowell, NC (Jan 2023)
- Lowell Solar Installation Cost: $12,108
- 25-Year Savings: $20,492
- Payback Period: 9.3 Years
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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:
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.
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|
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.
EcoWatch's Lowell, NC Solar Cost FAQs
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.