Cost of Solar Panels in Delaware: Local Solar Installation Prices (2022)

Here’s a quick look at the estimated cost of solar in Delaware:

  • Average Cost Per Watt: $2.58
  • Cost of Average System: $18,137*
  • Cost of Energy Without Solar: $46,173
  • Payback Period: 12 Years**
  • Lifetime Savings of Going Solar: $21,663

*Average system size is calculated using data from the Energy Information Administration. This price is after tax credit.
**Payback period is calculated assuming the system is purchased in cash.

Ecowatch Author Karsten Neumeister

By Karsten Neumeister, Solar Expert

Updated 5/19/2022

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Find Cost Savings on Solar in Delaware

As a homeowner in Delaware, you may be wondering: How much do solar panels cost in your area? In this article, we’ll discuss the average cost of a solar installation, how much that can save you on energy for your home and what incentives are available in your region. If you want to jump straight to getting a quote for an installation, you can follow the links below to speak with a verified professional.

Jump to Section:

  1. Cost of Solar Panels in Delaware
  2. Solar Panel System Installation Cost in Delaware
  3. What Determines the Cost of Solar Panels in Delaware
  4. Delaware Solar Incentives
  5. Best Solar Panel Brands and Installed Solar System Costs in 2022
  6. FAQ: Solar Panel Cost Delaware

 

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Solar Energy World

  • Pros icon Excellent reputation
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Green Street Solar

  • Pros icon NABCEP-certified technicians
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Clean Energy USA

  • Pros icon Excellent reputation
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  • Con icon Slightly expensive
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Cost of Solar Panels in Delaware

The average cost of solar panels in Delaware is $2.58 per watt, which is below the national average electricity rate of $2.66 per watt. Typically, a 9.5-kilowatt solar system is a common size in Delaware to offset the average monthly utility bill of $117 per month.1 A 9.5-kilowatt system would cost $18,137 after claiming the 26% federal solar tax credit.

With that said, a 9.5-kilowatt system isn’t the best for every Delaware resident. How many solar panels you need will vary based on factors like your energy usage, your home’s natural shade and more. Regardless, system size will have a large impact on the cost of a solar project.

Solar Panel System Installation Cost in Delaware

The below chart shows the average solar panel installation cost in Delaware before and after factoring in the 26% solar tax credit. As we show below, system size (in kilowatts) correlates directly with the cost. It also determines whether you can meet 100% of your home’s power needs with clean energy and eliminate your energy bills. 

For homeowners simply seeking a supplemental energy source, investing in a smaller system that can cover a portion of their energy needs makes sense. However, for those who want to rely solely on home solar power, installing a properly sized system is critical. If you want to entirely eliminate your energy bills with solar, you’ll need to have a large enough system to meet or surpass your average energy consumption. 

Size of Solar Panel System Delaware Solar Panel Cost Cost After Federal Tax Credit
7 kW $18,060 $13,364
8 kW $20,640 $15,274
9 kW $23,220 $17,183
10 kW $25,800 $19,092
11 kW $28,380 $21,001
12 kW $30,960 $22,910
13 kW $33,540 $24,820

Interested in seeing the best solar providers in Delaware that offer affordable yet high-quality systems? Click here.

What Determines the Cost of Solar Panels in Delaware?

Besides system size, the cost you’ll pay for solar panels for your Delaware home varies based on several factors. The main areas that drive the price include the solar equipment you choose, the financing option you use, and the company that handles your solar installation. 

Solar Equipment

The equipment you choose for your solar energy array plays a major role in the final cost of the system. Like almost any other product, some solar panels are more expensive and high-quality than others. For example, high-efficiency, high-wattage solar panels tend to be much more costly than less-efficient, lower-wattage counterparts — but they’ll also save you more money over time.

High-efficiency panels are often a solid choice for homeowners with limited installation space, as you may not need as many panels to meet your energy needs. In addition, high-efficiency, high-wattage panels are often a good pick for homeowners with energy-hungry appliances or electric vehicles. 

Solar Financing

Most solar energy companies offer a few financing options. While the vast majority of providers accept solar loans and cash purchases, not all companies offer solar leases or power purchase agreements (PPAs). However, many companies offer all three options to accommodate the needs of residents with varying budgets.

The solar financing option you choose can affect the final price you pay. For example, buying the system outright is generally the most cost-effective option. If you pay cash upfront, you usually get the best deal. If you opt for a solar loan, you’ll accrue interest over the repayment period. However, it isn’t feasible to pay upfront for many homeowners, so solar loans are an excellent alternative.

If you buy your system outright with a loan or cash purchase, you can take advantage of the federal tax credit and other financial incentives. On the other hand, if you choose a solar lease or PPA, you can’t claim the federal solar tax credit, as you don’t actually own the system. However, leases can be a viable last resort for some homeowners.

Solar Installation Company

The solar installation company you choose for your solar energy project can also impact your final price. As you browse through solar providers in your area, you’ll probably notice the price variation between solar installers. 

It’s essential to understand that higher or lower costs don’t make a solar provider’s services more or less “worth it,” per se. Instead of going with what’s cheapest, you should always choose a reputable, trustworthy solar company you find best suited to your needs. For example, a higher-priced option may have a better warranty and would be worth the extra money to you. 

Delaware Solar Incentives

Delaware homeowners who switch to solar have access to various incentives. Although solar energy systems installed in the state aren’t exempt from sales or property tax, homeowners may utilize other financial incentives to help cut back on the overall cost.

Delaware Solar Incentive How it Affects the Cost of Solar Panels in Delaware
Solar Renewable Energy Credits Due to Delaware’s Renewable Portfolio Standards, or RPS, utility companies in the state must derive 40% of their energy from renewable sources by 2035. To help with this, homeowners can earn solar renewable energy credits, or SRECs, which can be sold to utilities for cash via the SREC marketplace.
Net Metering Delaware offers a statewide net metering program that happens to be one of the best in the country. In other states, solar customers who participate in net metering programs may receive credits worth an amount lower than the retail rate of electricity, but Delaware ensures they can be exchanged 1:1 to offset energy bills.
Local Solar Rebates & Incentives Several utility companies in the state offer excellent rebates to their customer base. For example, Delmarva Power and Delaware Electric Cooperative’s Green Energy Programs hand out rebates of up to $6,000 and $2,500, respectively.
Federal Solar Tax Credit The solar investment tax credit (ITC) allows homeowners to claim 26% of their total solar equipment and installation costs as a tax credit. The credit is set to decrease to 22% in 2023 and disappear completely for residential systems in 2024 if it’s not extended by Congress.

Best Solar Panel Brands and Installed Solar System Costs in 2022

Some solar brands are better than others. The table below outlines costs for some of the best, most popular solar panels on the market. The chart doesn’t give specific figures, as pricing can hinge on multiple factors. Instead, it offers a general comparison among brands. 

Solar Panel Brand Average Cost Per Watt ($-$$$$$)
LG Solar $$$
Canadian Solar $$$
JA Solar $$
Mission Solar $$
Panasonic $$
Q Cells $$
REC $$$
Silfab $$$
SunPower $$$$$
Tesla $$
Trina Solar $$$

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People Also Ask 

FAQ: Solar Panel Cost Delaware

At EcoWatch, we get questions every day about solar, some from Delaware homeowners. Here are the most common questions we see, along with our answers:

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Karsten Neumeister

Solar Expert

Karsten Neumeister is a solar energy specialist with a background in writing and the humanities. Before joining EcoWatch, Karsten worked in the renewable energy sector of New Orleans, focusing on solar energy policy and technology. A lover of music and the outdoors, Karsten might be found rock climbing, canoeing or writing songs when away from the workplace.

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