Solar Panel Cost Guide in Woodfin, NC (2023 Update)
- Woodfin Solar Installation Cost: $12,385
- 25-Year Savings: $21,347
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Woodfin
We break down average solar pricing in Woodfin.
In Woodfin, solar panels cost about 2.54 per watt on average. Since a 7.0-kW system is needed to cover the energy needs of a typical home in Woodfin, the average price of going solar will be about $12,393 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $18,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Woodfin
| Year | Return on Investment |
|---|---|
| 1 years | $-12,273 |
| 3 years | $-12,048 |
| 5 years | $-11,823 |
| 7 years | $-11,598 |
| 9 years | $-11,373 |
| 11 years | $-11,148 |
| 13 years | $-10,923 |
| 15 years | $-10,699 |
| 17 years | $-10,474 |
| 19 years | $-10,249 |
| 21 years | $-10,024 |
| 23 years | $-9,799 |
| 25 years | $-9,574 |
Top Solar Installers in Woodfin
Although it's possible to install solar panels by yourself, it requires extra labor and know-how. That's why most people choose a solar panel installer. In addition, if you'd like to maximize your investment in solar power, going with a solar installer can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
If you're on the hunt for a solar installer in Woodfin, the EcoWatch team has put together 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 Woodfin
Factors that Affect Solar Panel Costs in Woodfin
Though the average cost of a solar system in Woodfin is $12,393, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
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 power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,540 per kilowatt in Woodfin. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Woodfin provide solar loans, which reduce the initial cost of installing a solar system. Although solar loans make going solar more accessible for Woodfin homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can influence how much it costs. Woodfin's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that offers the products, warranties and services you want and also fit into your budget.
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 | $17,960 | 9.5 years |
| 8 kW | $2.59 | $14,508 | $24,231 | 9.4 years |
| 10 kW | $2.54 | $17,780 | $30,645 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $37,201 | 9.0 years |
| 14 kW | $2.44 | $23,896 | $43,898 | 8.8 years |
| 16 kW | $2.39 | $26,741 | $50,739 | 8.6 years |
| 18 kW | $2.34 | $29,444 | $57,721 | 8.4 years |
| 20 kW | $2.29 | $32,004 | $64,846 | 8.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of 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 past customers.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Contract: Before you sign a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a quality company.
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 Woodfin, NC Solar Cost FAQs
What is the average cost of installing solar panels in Woodfin?
This is a tough question to answer precisely, because the cost depends on a variety of 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $968.50 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 usage 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 account for 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.