Solar Panel Cost Guide in Bonanza, GA (2024 Update)
- Bonanza Solar Installation Cost: $17,591
- 25-Year Savings: $20,499
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Bonanza
Let’s have a look at the average cost of solar in Bonanza.
The national average cost of solar panels is $2.66 per watt, but in Bonanza it’s 4 per watt.To cover the typical energy usage of the average home in Bonanza, most homeowners require a 6.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,591, or $25,155 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Bonanza homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the high upfront cost, the average Bonanza homeowner can save around $18,000 on their energy bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a highly rated solar company in your area for a custom estimate.
Solar savings over time in Bonanza
| Year | Return on Investment |
|---|---|
| 1 years | $-15,998 |
| 3 years | $-12,811 |
| 5 years | $-9,625 |
| 7 years | $-6,439 |
| 9 years | $-3,252 |
| 11 years | $-66 |
| 13 years | $3,121 |
| 15 years | $6,307 |
| 17 years | $9,494 |
| 19 years | $12,680 |
| 21 years | $15,867 |
| 23 years | $19,053 |
| 25 years | $22,240 |
Top Solar Installers in Bonanza
Installing solar panels yourself can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you aren’t sure what brand of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Bonanza:
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
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Bonanza
Factors that Affect Solar Panel Costs in Bonanza
Even though the average cost of a solar system in Bonanza is $17,591, your final cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,740 per kilowatt in Bonanza.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Bonanza, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Bonanza offer solar loans, which reduce your upfront costs of installing solar.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Bonanza, and each can charge varying amounts for labor and equipment.The size of the company can sometimes play the most considerable role in your 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 can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.89 | $16,336 | $12,678 | 14.1 years |
| 8 kW | $3.81 | $21,363 | $17,323 | 13.8 years |
| 10 kW | $3.74 | $26,180 | $22,178 | 13.5 years |
| 12 kW | $3.67 | $30,788 | $27,242 | 13.3 years |
| 14 kW | $3.59 | $35,186 | $32,515 | 13.0 years |
| 16 kW | $3.52 | $39,375 | $37,998 | 12.7 years |
| 18 kW | $3.44 | $43,354 | $43,690 | 12.5 years |
| 20 kW | $3.37 | $47,124 | $49,592 | 12.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: If you care about the durability of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
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
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Bonanza, GA Solar Cost FAQs
How much does it cost to install solar panels in Bonanza?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $18,700 for a 5-kW system and $37,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Bonanza?
Solar panels aren’t free in Bonanza, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How will solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bonanza is currently $246,119, which means you could be looking at a value of about $10,091 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Bonanza is a worthwhile investment.
How often do you have to replace solar panels?
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.