Solar Panel Cost Guide in Elsmere, DE (2023 Update)
- Elsmere Solar Installation Cost: $12,064
- 25-Year Savings: $12,838
- Payback Period: 12.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Elsmere
Find out what the average cost of solar panel installation is in Elsmere.
In Elsmere, solar panels cost about 2.58 per watt on average. Using this figure, a typical 6.7-kW system would cost about $12,064 before the 30% 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 may look quite different based on your household energy consumption, the type of equipment you want to get, your solar contractor and more. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Elsmere see about $14,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Elsmere that can help you get a more accurate cost estimate for your home.
Solar savings over time in Elsmere
| 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 Elsmere
Many homeowners opt for a solar panel installer since trying to install solar panels by yourself can be a labor-intensive endeavor. A solar company can also help save you money in the long run by providing warranties, repairs and system component replacements.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Elsmere
Factors that Affect Solar Panel Costs in Elsmere
The cost of installing a solar system in Elsmere 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 adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,580 per kilowatt in Elsmere. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Elsmere average.
Solar Financing Terms
Most solar companies in Elsmere have solar loans, which reduce the initial cost of installing solar panels. While solar loans make switching to solar energy more accessible for Elsmere homeowners, they can also raise 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
The solar panel installer you select will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Elsmere, DE Solar Cost FAQs
What is the average cost of installing solar panels in Elsmere?
The average cost of solar panels in Elsmere is about $12,900 for a 5-kW system and $25,800 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Elsmere?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Does Elsmere have a net metering program?
Each state has some form 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 give you credit toward your future energy bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 get 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.