Solar Panel Cost Guide in Bear, DE (2023 Update)
- Bear Solar Installation Cost: $12,070
- 25-Year Savings: $14,339
- Payback Period: 11.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Bear
Find out what the average cost of solar panels are in Bear.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bear, the average cost of a solar system is 2.58 per watt. Using this figure, a typical 6.7-kW system would cost about $12,064 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary based on multiple factors, such as what size system you need, your energy usage and what installation company you go with. But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $15,000 over 20 years on power bills.
You can click the button below to get connected with a top solar installer in Bear for a quote for your home.
Solar savings over time in Bear
| Year | Return on Investment |
|---|---|
| 1 years | $-10,669 |
| 3 years | $-7,867 |
| 5 years | $-5,065 |
| 7 years | $-2,263 |
| 9 years | $539 |
| 11 years | $3,341 |
| 13 years | $6,144 |
| 15 years | $8,946 |
| 17 years | $11,748 |
| 19 years | $14,550 |
| 21 years | $17,352 |
| 23 years | $20,154 |
| 25 years | $22,956 |
Top Solar Installers in Bear
Many homeowners choose to use a solar panel installer since trying to put up solar panels on your own can be a labor-intensive endeavor. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be right for your family.
If you'd like to make the switch to solar but still aren't certain which solar company to go with, here are our recommendations for providers in Bear:
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
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 Bear
Factors that Affect Solar Panel Costs in Bear
Although the average cost of a solar system in Bear is $12,064, your final cost may be higher or lower than that. There are several 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 keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,580. The kind of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Bear, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. Even though solar loans make switching to solar energy more accessible for Bear homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Bear is the company you hire to install your PV system. As with choosing a company to install new cabinets, for example, you'll have many options for solar installers that provide a range of services at different price points. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.68 | $11,269 | $12,439 | 11.9 years |
| 8 kW | $2.63 | $14,737 | $16,875 | 11.7 years |
| 10 kW | $2.58 | $18,060 | $21,454 | 11.4 years |
| 12 kW | $2.53 | $21,239 | $26,179 | 11.2 years |
| 14 kW | $2.48 | $24,273 | $31,048 | 11.0 years |
| 16 kW | $2.43 | $27,162 | $36,061 | 10.7 years |
| 18 kW | $2.37 | $29,907 | $41,219 | 10.5 years |
| 20 kW | $2.32 | $32,508 | $46,521 | 10.3 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Warranty: If you care about the longevity of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
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 Bear, DE Solar Cost FAQs
How much does it cost to install solar panels in Bear?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $12,900 for a 5-kW system and $25,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $790.29 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.