Solar Panel Cost Guide in College Park, GA (2023 Update)
- College Park Solar Installation Cost: $12,065
- 25-Year Savings: $23,176
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in College Park
Let's take a look at the average cost of solar in College Park.
Currently, the national average cost of solar panels is $2.66 per watt. However, in College Park, the average cost of a solar system is 2.55 per watt. Because a 6.8-kW system is needed to cover the energy costs of a typical home in College Park, the average price of going solar will be about $12,067 after claiming the federal solar tax credit of 30%.
Remember 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 choose, your solar contractor and more. With typical savings of about $20,000 on electricity bills over 20 years, many homeowners in College Park find investing in solar can pay off big.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in College Park
| Year | Return on Investment |
|---|---|
| 1 years | $-11,948 |
| 3 years | $-11,713 |
| 5 years | $-11,478 |
| 7 years | $-11,243 |
| 9 years | $-11,008 |
| 11 years | $-10,773 |
| 13 years | $-10,538 |
| 15 years | $-10,303 |
| 17 years | $-10,068 |
| 19 years | $-9,833 |
| 21 years | $-9,598 |
| 23 years | $-9,363 |
| 25 years | $-9,128 |
Top Solar Installers in College Park
Although it's possible to install solar panels on your own, it involves extra time and handiness. That's why almost all homeowners choose to hire a solar panel installer. A solar company can also help save you money in the long run by providing warranties, repairs and part replacements.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
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 College Park
Factors that Affect Solar Panel Costs in College Park
There are several factors that can play into your solar panel 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
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,550. The model of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond 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
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in College Park, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your overall costs, so it's vital to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies operating throughout College Park, and each can charge varying amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $20,144 | 8.9 years |
| 8 kW | $2.60 | $14,566 | $27,145 | 8.7 years |
| 10 kW | $2.55 | $17,850 | $34,288 | 8.6 years |
| 12 kW | $2.50 | $20,992 | $41,574 | 8.4 years |
| 14 kW | $2.45 | $23,990 | $49,002 | 8.2 years |
| 16 kW | $2.40 | $26,846 | $56,574 | 8.0 years |
| 18 kW | $2.35 | $29,560 | $64,288 | 7.9 years |
| 20 kW | $2.29 | $32,130 | $72,145 | 7.7 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the completion timeline.
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 College Park, GA Solar Cost FAQs
What is the average cost of installing solar panels in College Park?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $12,750 for a 5-kW system and $25,500 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in College Park?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Does College Park have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
How often do you have to replace solar panels?
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 the amount of 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 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.