Solar Panel Cost Guide in Lowesville, NC (2023 Update)
- Lowesville Solar Installation Cost: $12,162
- 25-Year Savings: $18,969
- Payback Period: 9.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lowesville
See how much it might cost to make the switch to solar in Lowesville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lowesville, the typical cost of solar panels is 2.54 per watt. The average solar panel system size in Lowesville is around 6.8 kilowatts, meaning a cost of about $12,162 for a solar installation, or $17,392 before the 30% federal solar tax credit is applied.
These figures are only averages, and your own solar costs may differ based on your specific situation and what company you choose to go with. With average savings of about $17,000 on electricity bills over 20 years, many homeowners in Lowesville find installing solar panels can be quite rewarding.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lowesville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,916 |
| 3 years | $-8,426 |
| 5 years | $-5,935 |
| 7 years | $-3,445 |
| 9 years | $-955 |
| 11 years | $1,536 |
| 13 years | $4,026 |
| 15 years | $6,517 |
| 17 years | $9,007 |
| 19 years | $11,497 |
| 21 years | $13,988 |
| 23 years | $16,478 |
| 25 years | $18,969 |
Top Solar Installers in Lowesville
Many homeowners choose to use a solar panel company since trying to put up solar panels by yourself can be a lot of work. Plus, if you're unsure what kind of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're on the hunt for a solar company in Lowesville, 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
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 Lowesville
Factors that Affect Solar Panel Costs in Lowesville
The cost of installing a solar system in Lowesville can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,540 per kilowatt in Lowesville. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Lowesville, where sunlight is abundant, efficiency can quickly pay off. Also, 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 Lowesville to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time due to interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Lowesville, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $16,205 | 10.2 years |
| 8 kW | $2.59 | $14,508 | $21,891 | 10.0 years |
| 10 kW | $2.54 | $17,780 | $27,719 | 9.8 years |
| 12 kW | $2.49 | $20,909 | $33,689 | 9.6 years |
| 14 kW | $2.44 | $23,896 | $39,802 | 9.4 years |
| 16 kW | $2.39 | $26,741 | $46,057 | 9.2 years |
| 18 kW | $2.34 | $29,444 | $52,454 | 9.0 years |
| 20 kW | $2.29 | $32,004 | $58,994 | 8.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose greatly affects 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:
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Installation Process: When making the switch to solar energy, it's crucial to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the completion timeline.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
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 Lowesville, NC Solar Cost FAQs
How much does it cost to install solar panels in Lowesville?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Lowesville have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Lowesville?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.