Solar Panel Cost Guide in Bonanza, GA (2023 Update)
- Bonanza Solar Installation Cost: $11,995
- 25-Year Savings: $20,498
- Payback Period: 9.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Bonanza
Find out how much it might cost to go solar in Bonanza.
In Bonanza, solar panels cost about 2.55 per watt on average. Because a 6.7-kW system is needed to cover the energy costs of a typical home in Bonanza, the average price of going solar will be about $11,995 after claiming the federal solar tax credit of 30%.
How much you pay can go higher or lower than the average in Bonanza depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire. But, once you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $18,000 over 20 years on power bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Bonanza
| Year | Return on Investment |
|---|---|
| 1 years | $-10,695 |
| 3 years | $-8,096 |
| 5 years | $-5,496 |
| 7 years | $-2,897 |
| 9 years | $-298 |
| 11 years | $2,302 |
| 13 years | $4,901 |
| 15 years | $7,501 |
| 17 years | $10,100 |
| 19 years | $12,700 |
| 21 years | $15,299 |
| 23 years | $17,899 |
| 25 years | $20,498 |
Top Solar Installers in Bonanza
Many homeowners choose to use a solar installer since trying to install solar panels yourself can be challenging. Companies can also have access to quality options of the best solar panels and help you decide which one will be right for you.
If you're on the hunt for a solar company in Bonanza, we've compiled a list of our top suggestions here:
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
While the average cost of a solar system in Bonanza is $11,995, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Bonanza offer solar loans, which reduce the initial cost of installing solar panels. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the massive popularity of clean energy solutions in Bonanza, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. The company's size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more 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 promotion can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.65 | $11,138 | $17,876 | 9.6 years |
| 8 kW | $2.60 | $14,566 | $24,121 | 9.4 years |
| 10 kW | $2.55 | $17,850 | $30,508 | 9.2 years |
| 12 kW | $2.50 | $20,992 | $37,038 | 9.0 years |
| 14 kW | $2.45 | $23,990 | $43,711 | 8.9 years |
| 16 kW | $2.40 | $26,846 | $50,526 | 8.7 years |
| 18 kW | $2.35 | $29,560 | $57,485 | 8.5 years |
| 20 kW | $2.29 | $32,130 | $64,586 | 8.3 years |
How to Save on Solar Panels
There are a large number of companies available in Bonanza, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: When looking through your solar installer's contract, ask questions 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.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous 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 $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels 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 can help lower the cost.
Is it worth going solar in Bonanza?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Bonanza?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of 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.