Solar Panel Cost Guide in Clayton, DE (2024 Update)

Factors that Affect Solar Panel Costs in Clayton

Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Clayton: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

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 with greater efficiency or power generation require 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 $3,090.The type of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Clayton to be too expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time due to interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

The solar company you pick will affect your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.