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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bonanza, the typical cost of a solar system is 4 per watt.The average Bonanza homeowner needs a 6.7-kilowatt system, which would cost about $17,591 with the federal tax credit, or $25,155 before the 0 tax credit is applied.
The true cost of your system can be above or below the average in Bonanza based on a few factors, such as the type of solar panels you choose and the solar installer you hire.Many homeowners find adopting solar power is a solid investment. The average homeowner in Bonanza can save about $18,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
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
Although it's possible to install solar panels on your own, it involves extra effort and expertise. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
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
Though the average cost of a solar system in Bonanza is $17,591, your actual cost may differ. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,740.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Bonanza average.
Solar Financing Terms
Most solar companies in Bonanza have solar loans, which reduce the initial cost of installing a solar system.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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you select will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, 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 | $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
Since the kind of solar panels and the installation company you choose greatly impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The model of solar panel you need to install plays a role in which company you should go with, since different companies provide different panels.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Contract: Before you sign a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of 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 past customers.
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?
The average cost of solar panels in Bonanza is about $18,700 for a 5-kW system and $37,400 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 consume.
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.
Do solar panels increase your 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 Bonanza is currently $246,119, so 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 fruitful investment.
How long do solar panels last in Bonanza?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use 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.