Solar Panel Cost Guide in Hockessin, DE (2023 Update)
- Hockessin Solar Installation Cost: $12,070
- 25-Year Savings: $12,832
- Payback Period: 12.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hockessin
Here's how much it might cost to switch to solar power in Hockessin.
The average cost of a solar system in Hockessin is 2.58 per watt. Since a 6.7-kW system is needed to cover the energy needs of a typical home in Hockessin, the average price of going solar will be about $12,064 after claiming the federal solar tax credit of 30%.
The true cost of your system can be higher or lower than the average in Hockessin depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. Many homeowners find going solar is a rewarding investment. The average homeowner in Hockessin can save around $14,000 on their energy bills over 20 years.
To receive a free quote from a top solar installer in Hockessin, you can click the button below.
Solar savings over time in Hockessin
| Year | Return on Investment |
|---|---|
| 1 years | $-11,987 |
| 3 years | $-11,821 |
| 5 years | $-11,655 |
| 7 years | $-11,489 |
| 9 years | $-11,323 |
| 11 years | $-11,157 |
| 13 years | $-10,991 |
| 15 years | $-10,825 |
| 17 years | $-10,659 |
| 19 years | $-10,493 |
| 21 years | $-10,327 |
| 23 years | $-10,161 |
| 25 years | $-9,995 |
Top Solar Installers in Hockessin
Trying to put up solar panels on your own can be a time-consuming task, which is why getting a solar installation company is a good option for many homeowners. The payback period of solar panels will vary based on factors like your roof configuration and energy usage, but working with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Hockessin
Factors that Affect Solar Panel Costs in Hockessin
The cost of installing a solar system in Hockessin can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions 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 searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Hockessin homeowners choose to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also adds to your total costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Hockessin is the company you choose to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that offer a range of services at different price points. Additionally, some companies in Hockessin are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 brand of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
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 Hockessin, DE Solar Cost FAQs
What is the average cost of installing solar panels in Hockessin?
The average cost of solar panels in Hockessin is about $12,900 for a 5-kW system and $25,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Hockessin?
You can't get solar panels for free in Hockessin. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is going solar worth it?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much 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.