Solar Panel Cost Guide in Edgemoor, DE (2023 Update)
- Edgemoor Solar Installation Cost: $12,064
- 25-Year Savings: $12,838
- Payback Period: 12.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Edgemoor
Find out what the average cost of installing solar panels is in Edgemoor.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Edgemoor, the typical cost of a solar system is 2.58 per watt. To cover the typical energy needs of the average home in Edgemoor, most homeowners require a 6.7-kilowatt system. Using the figure above, a solar installation costs around $12,064, or $17,252 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and the cost of going solar for you will most likely look different based on your specific situation and what company you want to go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Edgemoor can save about $14,000 on their energy bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Edgemoor
| Year | Return on Investment |
|---|---|
| 1 years | $-11,068 |
| 3 years | $-9,076 |
| 5 years | $-7,084 |
| 7 years | $-5,092 |
| 9 years | $-3,099 |
| 11 years | $-1,107 |
| 13 years | $885 |
| 15 years | $2,877 |
| 17 years | $4,869 |
| 19 years | $6,861 |
| 21 years | $8,853 |
| 23 years | $10,846 |
| 25 years | $12,838 |
Top Solar Installers in Edgemoor
Although you can install solar panels on your own, it involves extra time and know-how. That's one of the reasons most homeowners choose to hire a solar panel installer. Companies can also have access to various kinds of the best solar panels and help you decide which one will be best for your family.
If you're searching for a solar installer in Edgemoor, the EcoWatch team has put together a list of our top suggestions here:
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 Edgemoor
Factors that Affect Solar Panel Costs in Edgemoor
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Edgemoor: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Edgemoor, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $2,580 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Edgemoor average.
Solar Financing Terms
Most solar installers in Edgemoor have solar loans, which reduce your upfront costs of installing solar panels. Even though solar loans make adopting solar energy more accessible for Edgemoor homeowners, they can also increase 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 avoid paying as much in interest.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $2.68 | $11,269 | $11,086 | 12.6 years |
| 8 kW | $2.63 | $14,737 | $15,070 | 12.4 years |
| 10 kW | $2.58 | $18,060 | $19,199 | 12.1 years |
| 12 kW | $2.53 | $21,239 | $23,472 | 11.9 years |
| 14 kW | $2.48 | $24,273 | $27,890 | 11.6 years |
| 16 kW | $2.43 | $27,162 | $32,452 | 11.4 years |
| 18 kW | $2.37 | $29,907 | $37,159 | 11.1 years |
| 20 kW | $2.32 | $32,508 | $42,010 | 10.9 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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 Edgemoor, DE Solar Cost FAQs
How much does it cost to install solar panels in Edgemoor?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,900 for a 5-kW system and $25,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality 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.
Are solar panels free in Edgemoor?
A solar panel system isn't free in Edgemoor, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $745.18 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 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 account for 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.