Solar Panel Cost Guide in Wilmington, DE (2024 Update)
- Wilmington Solar Installation Cost: $14,456
- 25-Year Savings: $12,832
- Payback Period: 14.5 Years
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Average Cost of Solar Panels in Wilmington
Find out what the average cost of installing solar panels is in Wilmington.
In Wilmington, solar panels cost about 3 per watt on average.The average Wilmington 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.Even with the significant upfront cost, the average Wilmington homeowner can save about $14,000 on their power bills over 20 years, which is one of the advantages of solar.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Wilmington
| 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 Wilmington
Trying to put up solar panels yourself can be a stressful project, which is why getting a solar installer is a good option for many homeowners. A solar installer can also help save you money over time by providing warranties, repairs and system component replacements.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
See all of the solar companies in Wilmington
Factors that Affect Solar Panel Costs in Wilmington
The cost of installing a solar system in Wilmington can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The brand of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than 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 researching a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Wilmington have solar loans, which reduce your upfront costs of installing solar.You’ll have to consider the long-term cost of financing options, including the amount of 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 significantly.
Solar Panel Installation Company
The solar installation company you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that offers the products, warranties and services you’re looking for and also fit into your budget.
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 | $8,858 | 15.1 years |
| 8 kW | $3.15 | $17,650 | $12,157 | 14.8 years |
| 10 kW | $3.09 | $21,630 | $15,629 | 14.5 years |
| 12 kW | $3.03 | $25,437 | $19,274 | 14.2 years |
| 14 kW | $2.97 | $29,071 | $23,092 | 13.9 years |
| 16 kW | $2.90 | $32,532 | $27,083 | 13.6 years |
| 18 kW | $2.84 | $35,819 | $31,247 | 13.4 years |
| 20 kW | $2.78 | $38,934 | $35,584 | 13.1 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
EcoWatch's Wilmington, DE Solar Cost FAQs
What is the average cost of installing solar panels in Wilmington?
This is a hard question to answer exactly, because the cost depends on a variety of 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 consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Wilmington?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.