Solar Panel Cost Guide in Pike Creek, DE (2024 Update)
- Pike Creek Solar Installation Cost: $14,456
- 25-Year Savings: $15,104
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Pike Creek
We break down average solar pricing in Pike Creek.
While the national average of solar panels is $2.66 per watt, solar panels in Pike Creek typically cost around 3.The average solar panel system size in Pike Creek is around 6.7 kilowatts, meaning a cost of about $14,456 for a solar installation, or $20,672 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of going solar can vary depending on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on energy bills.
To receive a free quote from a highly rated solar installation company in Pike Creek, you can click the button below.
Solar savings over time in Pike Creek
| 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 Pike Creek
Many homeowners decide to hire a solar installer since installing solar panels yourself can be hard. Another great thing about using a top solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- 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
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 Pike Creek
Factors that Affect Solar Panel Costs in Pike Creek
Although the average cost of a solar system in Pike Creek is $14,456, your final cost may differ. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar panel system in Pike Creek, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $3,090 for each additional kilowatt you need.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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 electric bills. In addition, extra products, like solar batteries, can bring your total well above the Pike Creek average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Pike Creek homeowners decide to finance their solar panel systems to offset upfront costs.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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $3.21 | $13,497 | $10,899 | 13.8 years |
| 8 kW | $3.15 | $17,650 | $14,878 | 13.6 years |
| 10 kW | $3.09 | $21,630 | $19,030 | 13.3 years |
| 12 kW | $3.03 | $25,437 | $23,355 | 13.0 years |
| 14 kW | $2.97 | $29,071 | $27,853 | 12.8 years |
| 16 kW | $2.90 | $32,532 | $32,524 | 12.5 years |
| 18 kW | $2.84 | $35,819 | $37,368 | 12.2 years |
| 20 kW | $2.78 | $38,934 | $42,386 | 12.0 years |
How to Save on Solar Panels
There are many companies available in Pike Creek, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- 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
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 Pike Creek, DE Solar Cost FAQs
What is the average cost of installing solar panels in Pike Creek?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $15,450 for a 5-kW system and $30,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Pike Creek?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback 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 having solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Pike Creek is currently $351,000, so you could be looking at a value of about $14,391 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Pike Creek is a rewarding investment.
How long do solar panels last in Pike Creek?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.