Solar Panel Cost Guide in Lowell, NC (2024 Update)
- Lowell Solar Installation Cost: $16,736
- 25-Year Savings: $20,489
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Lowell
We go over average solar pricing in Lowell.
Although the national average of solar panels is $2.66 per watt, solar panels in Lowell generally cost about 4.Using this figure, a typical 6.8-kW system would cost about $16,736 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary quite a bit based on several factors, such as what size system you need, your energy usage and what solar installer you go with.Many homeowners find going solar is a rewarding investment. The average homeowner in Lowell can save around $18,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a custom quote.
Solar savings over time in Lowell
| Year | Return on Investment |
|---|---|
| 1 years | $-15,414 |
| 3 years | $-12,770 |
| 5 years | $-10,125 |
| 7 years | $-7,481 |
| 9 years | $-4,837 |
| 11 years | $-2,193 |
| 13 years | $452 |
| 15 years | $3,096 |
| 17 years | $5,740 |
| 19 years | $8,384 |
| 21 years | $11,029 |
| 23 years | $13,673 |
| 25 years | $16,317 |
Top Solar Installers in Lowell
Although you can install solar panels on your own, it involves extra labor and know-how. For that reason, most people choose a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over time.
If you're searching for a solar company in Lowell, the EcoWatch team has compiled 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
See all of the solar companies in Lowell
Factors that Affect Solar Panel Costs in Lowell
There are several factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,510.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Lowell, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lowell to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Lowell, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.The company’s size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.65 | $15,332 | $13,384 | 13.3 years |
| 8 kW | $3.58 | $20,049 | $18,239 | 13.1 years |
| 10 kW | $3.51 | $24,570 | $23,290 | 12.8 years |
| 12 kW | $3.44 | $28,894 | $28,538 | 12.6 years |
| 14 kW | $3.37 | $33,022 | $33,982 | 12.3 years |
| 16 kW | $3.30 | $36,953 | $39,623 | 12.1 years |
| 18 kW | $3.23 | $40,688 | $45,460 | 11.8 years |
| 20 kW | $3.16 | $44,226 | $51,494 | 11.6 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you’re concerned about the endurance of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lowell, NC Solar Cost FAQs
What is the average cost of installing solar panels in Lowell?
The average cost of solar panels in Lowell is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Lowell?
You can’t get solar panels for free in Lowell. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase the value of your home?
Installing solar panels on 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 $263,263, so you can look forward to a value of about $10,794 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?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.