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.
In Woodfin, solar panels cost about 4 per watt on average.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.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of equipment you choose, your solar contractor and more.Many homeowners find going solar is a rewarding investment. The average homeowner in Woodfin can save about $18,000 on their power bills over 20 years.
To get a free quote from a pre-vetted solar installation company in Woodfin, you can 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
When making the switch to solar, many homeowners prefer to go with a solar company since putting up a solar system yourself can be a challenging project. The expertise that solar companies offer can be helpful as well, particularly if you aren’t sure what kind of solar equipment you need.
Working with a licensed solar company can make going solar easier. 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 Woodfin
Factors that Affect Solar Panel Costs in Woodfin
The cost of installing a solar system in Woodfin can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar 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 pay about $3,510 per kilowatt in Woodfin.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Woodfin, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.It’s a good idea 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
The last key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Woodfin, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Woodfin know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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
There are numerous companies to choose from in Woodfin, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: The kind of solar panel you’d like to install plays a part in which installer you should go with, since different companies have access to different panels.
- Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Reputation: Companies that have been in business for many years 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 adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: If you’re worried about the endurance of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 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 $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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Woodfin?
Leasing solar panels can be an attractive choice, because it often 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 option if you want to maximize your savings.
Can you sell solar power back to the grid in Woodfin?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How often do you have to replace solar panels?
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.