Solar Panel Cost Guide in Woodfin, NC (Jan 2023)

  • Woodfin Solar Installation Cost: $12,393
  • 25-Year Savings: $21,339
  • Payback Period: 9.2 Years

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By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Woodfin

Let's have a look at the average cost of solar panels in Woodfin.

The national average cost of solar panels is $2.66 per watt, but in Woodfin it's $3 per watt. The average solar panel system size in Woodfin is around 7.0 kilowatts, meaning a cost of about $12,393 for a solar installation, or $9,171 after the 30% federal solar tax credit is applied.

The true cost of your system can go above or below the average in Woodfin based on a few factors, such as the model of solar panels you choose and the solar installer you hire. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Woodfin see about $18,000 in savings on energy bills over 20 years.

To calculate your potential savings and connect with a local solar company, click the button below.

Solar savings over time in Woodfin

Year Return on Investment
1 years $-11,043
3 years $-8,345
5 years $-5,646
7 years $-2,948
9 years $-249
11 years $2,449
13 years $5,148
15 years $7,847
17 years $10,545
19 years $13,244
21 years $15,942
23 years $18,641
25 years $21,339

Top Solar Installers in Woodfin

Many homeowners decide to hire a solar installer since installing solar panels yourself can be challenging. Another upside of using a solar company is that they can help you optimize your ROI by reducing your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • 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

While the average cost of a solar system in Woodfin is $12,393, your actual cost may be above or below the average. There are quite a few 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

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,540. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Woodfin, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

If paying for a solar system out of pocket is too expensive, solar loans are a popular route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The solar company you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Woodfin, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.

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

The solar panel company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:

  • Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
  • Solar Panel Brands: Different companies will have different brands and models of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
  • 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
  • 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.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Woodfin, NC Solar Cost FAQs

How much does it cost to install solar panels in Woodfin?

The average cost of solar panels in Woodfin is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Woodfin?

A solar panel system isn't free in Woodfin, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Is it worth going solar in Woodfin?

Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.

How long do solar panels last in Woodfin?

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 once you've had them for that long or you can keep using 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.

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