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.
The national average cost of solar panels is $2.66 per watt, but in Lowell it’s 4 per watt.The average solar panel system size in Lowell is around 6.8 kilowatts, meaning a cost of about $16,736 for a solar installation, or $23,932 before the 0 federal solar tax credit is applied.
The actual price you pay can be above or below the average in Lowell based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.Despite the high initial cost, the average Lowell homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a pre-vetted solar installation company in Lowell, you can click the button below.
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
When making the switch to solar, many homeowners prefer to hire a solar installation company since installing a solar system yourself can be a time-consuming project. Another great thing about using a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Lowell
Factors that Affect Solar Panel Costs in Lowell
For many Lowell homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Lowell, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lowell, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past power bills. Your total cost can increase by about $3,510 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more expensive 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 a better option. 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. Thankfully, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time due to interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
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.Additionally, some companies in Lowell know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $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
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- 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?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Lowell?
You can’t get solar panels for free in Lowell. However, you may still be able to afford 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.
How will installing solar panels impact my property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.