Solar Panel Cost Guide in North Star, DE (2024 Update)
- North Star Solar Installation Cost: $14,456
- 25-Year Savings: $16,014
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in North Star
Find out what the average cost of solar panels are in North Star.
The average cost of a solar panel system in North Star is 3 per watt.The average North Star homeowner needs a 6.7-kilowatt system, which would cost about $14,456 with the federal tax credit, or $20,672 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of solar panels you want, your solar contractor and more.Many homeowners find adopting solar power is a solid investment. The average homeowner in North Star can save about $16,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in North Star for a quote for your home.
Solar savings over time in North Star
| Year | Return on Investment |
|---|---|
| 1 years | $-13,055 |
| 3 years | $-10,253 |
| 5 years | $-7,451 |
| 7 years | $-4,649 |
| 9 years | $-1,847 |
| 11 years | $956 |
| 13 years | $3,758 |
| 15 years | $6,560 |
| 17 years | $9,362 |
| 19 years | $12,164 |
| 21 years | $14,966 |
| 23 years | $17,768 |
| 25 years | $20,570 |
Top Solar Installers in North Star
Many homeowners opt for a solar installation company since figuring out how to install solar panels on your own can be a labor-intensive endeavor. Also, companies with a high reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you’d like to go solar but still aren’t certain which solar system installer to go with, here are our suggestions for providers nearby:
See all of the solar companies in North Star
Factors that Affect Solar Panel Costs in North Star
For many North Star homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in North Star, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.There are many different solar panel brands and the one you pick also affects the cost. In general, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many North Star homeowners choose to finance their solar panel systems to make paying for solar more affordable.Though solar loans make adopting solar energy more accessible for North Star homeowners, they can also raise the total you pay for your system, depending on your interest rate. 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 company you choose to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies in North Star, and each can charge different amounts for labor and equipment.The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.21 | $13,497 | $11,715 | 13.4 years |
| 8 kW | $3.15 | $17,650 | $15,966 | 13.1 years |
| 10 kW | $3.09 | $21,630 | $20,390 | 12.9 years |
| 12 kW | $3.03 | $25,437 | $24,987 | 12.6 years |
| 14 kW | $2.97 | $29,071 | $29,757 | 12.4 years |
| 16 kW | $2.90 | $32,532 | $34,701 | 12.1 years |
| 18 kW | $2.84 | $35,819 | $39,817 | 11.8 years |
| 20 kW | $2.78 | $38,934 | $45,106 | 11.6 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
EcoWatch's North Star, DE Solar Cost FAQs
How much does it cost to install solar panels in North Star?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $15,450 for a 5-kW system and $30,900 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 opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in North Star?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How will installing solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in North Star is currently $488,231, so you can look forward to a value of about $20,017 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in North Star is a fruitful investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.