Solar Panel Cost Guide in Woodfin, NC (2024 Update)
- Woodfin Solar Installation Cost: $17,115
- 25-Year Savings: $21,347
- Payback Period: 12.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Woodfin
Find out what the average cost of a solar system is in Woodfin.
Although the national average of solar panels is $2.66 per watt, solar panels in Woodfin typically cost around 4.The average solar panel system size in Woodfin is around 7.0 kilowatts, meaning a cost of about $17,115 for a solar installation, or $24,474 before the 0 federal solar tax credit is applied.
The actual price you pay can be above or below the average in Woodfin depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire.Despite the high upfront cost, the average Woodfin homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the positives of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Woodfin
| Year | Return on Investment |
|---|---|
| 1 years | $-15,644 |
| 3 years | $-12,702 |
| 5 years | $-9,759 |
| 7 years | $-6,817 |
| 9 years | $-3,875 |
| 11 years | $-933 |
| 13 years | $2,009 |
| 15 years | $4,951 |
| 17 years | $7,894 |
| 19 years | $10,836 |
| 21 years | $13,778 |
| 23 years | $16,720 |
| 25 years | $19,662 |
Top Solar Installers in Woodfin
Putting up solar panels yourself can be a stressful task, which is why using a solar installer is a good option for many homeowners. The expertise that solar installers provide can be useful as well, especially if you aren’t sure what brand of solar equipment would be right for your home.
If you're looking for a solar installer in Woodfin, we've 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
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Woodfin
Factors that Affect Solar Panel Costs in Woodfin
Even though the average cost of a solar system in Woodfin is $17,115, your actual cost may be higher or lower than that. 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 important things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $3,510 per kilowatt in Woodfin.There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Woodfin, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.It’s wise to add 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 how long it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can play a part in determining the cost. Woodfin’s solar companies all have different labor costs and add varying upcharges to 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 add-on services like electric vehicle 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 | $3.65 | $15,332 | $13,723 | 13.2 years |
| 8 kW | $3.58 | $20,049 | $18,691 | 12.9 years |
| 10 kW | $3.51 | $24,570 | $23,855 | 12.7 years |
| 12 kW | $3.44 | $28,894 | $29,215 | 12.4 years |
| 14 kW | $3.37 | $33,022 | $34,773 | 12.2 years |
| 16 kW | $3.30 | $36,953 | $40,526 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,477 | 11.7 years |
| 20 kW | $3.16 | $44,226 | $52,624 | 11.4 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Woodfin, NC Solar Cost FAQs
What is the average cost of installing solar panels in Woodfin?
This is a difficult 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Woodfin?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Woodfin 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 utility 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 Woodfin?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.