Solar Panel Cost Guide in Erwin, NC (2024 Update)
- Erwin Solar Installation Cost: $17,067
- 25-Year Savings: $20,277
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Erwin
We break down average solar pricing in Erwin.
The national average cost of solar panels is $2.66 per watt, but in Erwin it’s 4 per watt.The average Erwin homeowner needs a 6.9-kilowatt system, which would cost about $17,067 with the federal tax credit, or $24,406 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar can vary based on multiple factors, such as what size system you need, your energy consumption and what installation company you go with.With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Erwin find investing in solar can be quite rewarding.
Click the button below to get connected to a vetted solar company in your area for a personalized quote.
Solar savings over time in Erwin
| Year | Return on Investment |
|---|---|
| 1 years | $-15,596 |
| 3 years | $-12,654 |
| 5 years | $-9,712 |
| 7 years | $-6,769 |
| 9 years | $-3,827 |
| 11 years | $-885 |
| 13 years | $2,057 |
| 15 years | $4,999 |
| 17 years | $7,941 |
| 19 years | $10,884 |
| 21 years | $13,826 |
| 23 years | $16,768 |
| 25 years | $19,710 |
Top Solar Installers in Erwin
Although it's possible to install solar panels on your own, it takes extra labor and know-how. That's one of the reasons the majority of homeowners choose to go with a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Erwin
Factors that Affect Solar Panel Costs in Erwin
For many Erwin homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Erwin, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
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 energy your household consumes, the larger your system will likely need to be. You can expect to spend around $3,510 per kilowatt in Erwin.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Erwin, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Erwin homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Erwin is the company you get to install your PV system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services for different budgets.Larger national companies generally have lower costs, but some local companies keep up with 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 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 | $3.65 | $15,332 | $12,851 | 13.6 years |
| 8 kW | $3.58 | $20,049 | $17,528 | 13.3 years |
| 10 kW | $3.51 | $24,570 | $22,401 | 13.1 years |
| 12 kW | $3.44 | $28,894 | $27,471 | 12.8 years |
| 14 kW | $3.37 | $33,022 | $32,738 | 12.6 years |
| 16 kW | $3.30 | $36,953 | $38,201 | 12.3 years |
| 18 kW | $3.23 | $40,688 | $43,860 | 12.0 years |
| 20 kW | $3.16 | $44,226 | $49,717 | 11.8 years |
How to Save on Solar Panels
The solar panel company you go with 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 consider, including:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Erwin, NC Solar Cost FAQs
What is the average cost of installing solar panels in Erwin?
The average cost of solar panels in Erwin is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Erwin?
Solar panels aren’t free in Erwin, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $939.43 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.