Solar Panel Cost Guide in Pike Creek, DE (Feb 2023)
- Pike Creek Solar Installation Cost: $12,064
- 25-Year Savings: $15,111
- Payback Period: 11.1 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Pike Creek
See how much it might cost to install solar panels in Pike Creek.
While the national average of solar panels is $2.66 per watt, solar panels in Pike Creek generally cost around $3. Using this figure, a typical 6.7 would cost about $12,064 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with. For many homeowners, the upfront investment in solar power is worth paying. On average Pike Creek homeowners see about $15,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Pike Creek for a quote for your home.
Solar savings over time in Pike Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-10,977 |
| 3 years | $-8,803 |
| 5 years | $-6,629 |
| 7 years | $-4,455 |
| 9 years | $-2,281 |
| 11 years | $-107 |
| 13 years | $2,067 |
| 15 years | $4,241 |
| 17 years | $6,415 |
| 19 years | $8,589 |
| 21 years | $10,763 |
| 23 years | $12,937 |
| 25 years | $15,111 |
Top Solar Installers in Pike Creek
Although it's possible to install solar panels yourself, it involves extra labor and know-how. That's why most people choose a solar panel installer. Some solar installers, particularly local ones, can help you make the most of incentives in Pike Creek, thereby optimizing your ROI.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Pike Creek
Factors that Affect Solar Panel Costs in Pike Creek
There are several criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of solar panels in Pike Creek, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,580 for each additional kilowatt you need. The model of solar panels and equipment you want is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Pike Creek offer solar loans, which reduce your upfront costs of installing a solar system. 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 bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can influence how much it costs. Pike Creek's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $13,126 | 11.5 years |
| 8 kW | $2.63 | $14,737 | $17,791 | 11.3 years |
| 10 kW | $2.58 | $18,060 | $22,600 | 11.1 years |
| 12 kW | $2.53 | $21,239 | $27,553 | 10.9 years |
| 14 kW | $2.48 | $24,273 | $32,651 | 10.7 years |
| 16 kW | $2.43 | $27,162 | $37,893 | 10.4 years |
| 18 kW | $2.37 | $29,907 | $43,280 | 10.2 years |
| 20 kW | $2.32 | $32,508 | $48,812 | 10.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- 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 substantial role in the company you go with.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Pike Creek, DE Solar Cost FAQs
How much does it cost to install solar panels in Pike Creek?
The average cost of solar panels in Pike Creek 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 model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Pike Creek?
Leasing solar panels can be an appealing choice, as it often 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Pike Creek?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.
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.