Solar Panel Cost Guide in Troutman, NC (2024 Update)
- Troutman Solar Installation Cost: $16,954
- 25-Year Savings: $18,739
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Troutman
See how much it might cost to switch to solar power in Troutman.
Although the national average of solar panels is $2.66 per watt, solar panels in Troutman generally cost about 4.Using this figure, a typical 6.9-kW system would cost about $16,954 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Troutman homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $17,000 on power bills over 20 years, many homeowners in Troutman find going solar can pay off big.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Troutman
| Year | Return on Investment |
|---|---|
| 1 years | $-15,632 |
| 3 years | $-12,988 |
| 5 years | $-10,344 |
| 7 years | $-7,700 |
| 9 years | $-5,055 |
| 11 years | $-2,411 |
| 13 years | $233 |
| 15 years | $2,877 |
| 17 years | $5,522 |
| 19 years | $8,166 |
| 21 years | $10,810 |
| 23 years | $13,454 |
| 25 years | $16,099 |
Top Solar Installers in Troutman
Although you can install solar panels on your own, it takes extra energy and know-how. For that reason, almost all homeowners choose to go with a solar panel installer. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy consumption, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
If you're looking for a solar installer in Troutman, the EcoWatch team has compiled a list of our top suggestions here:
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 Troutman
Factors that Affect Solar Panel Costs in Troutman
There are many factors that can determine 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 size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,510. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Troutman average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Troutman homeowners opt to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Troutman, you’ll have many options to choose from, but each comes at various price points for labor and equipment.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $11,630 | 14.2 years |
| 8 kW | $3.58 | $20,049 | $15,900 | 13.9 years |
| 10 kW | $3.51 | $24,570 | $20,366 | 13.7 years |
| 12 kW | $3.44 | $28,894 | $25,029 | 13.4 years |
| 14 kW | $3.37 | $33,022 | $29,888 | 13.1 years |
| 16 kW | $3.30 | $36,953 | $34,944 | 12.8 years |
| 18 kW | $3.23 | $40,688 | $40,197 | 12.6 years |
| 20 kW | $3.16 | $44,226 | $45,646 | 12.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
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 Troutman, NC Solar Cost FAQs
What is the average cost of installing solar panels in Troutman?
The average cost of solar panels in Troutman is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Troutman?
You can’t get solar panels for free in Troutman. 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 prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $898.72 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a 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 buy 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.