Solar Panel Cost Guide in College Park, GA (Mar 2023)
- College Park Solar Installation Cost: $12,067
- 25-Year Savings: $23,175
- Payback Period: 8.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in College Park
We break down average solar pricing in College Park.
The average cost of a solar panel system in College Park is 2.55 per watt. To cover the typical energy needs of the average home in College Park, most homeowners require a 6.8-kilowatt system. Using the figure above, a solar installation costs around $12,067, or $17,256 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $20,000 over 20 years on power bills.
Click the button below to get connected to a highly rated solar installer in College Park for a custom estimate.
Solar savings over time in College Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,657 |
| 3 years | $-7,838 |
| 5 years | $-5,018 |
| 7 years | $-2,199 |
| 9 years | $620 |
| 11 years | $3,440 |
| 13 years | $6,259 |
| 15 years | $9,078 |
| 17 years | $11,897 |
| 19 years | $14,717 |
| 21 years | $17,536 |
| 23 years | $20,355 |
| 25 years | $23,175 |
Top Solar Installers in College Park
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Using a solar company can make switching to solar power much easier. The expertise that solar installers provide can be helpful as well, especially if you aren't sure what brand of solar equipment you need.
If you're searching for a solar installer in College Park, we've put together 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 (coming 2022)
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
The cost of installing a solar system in College Park can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, 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 brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout College Park, and each can charge varying amounts for labor and equipment. Some companies 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 choose 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 | $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 company that does your solar 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 a tough decision, we have some tips to help you, such as:
- Contract: When looking over your solar company'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 part breaking or the company going out of business.
- Warranty: Warranties that provide coverage for replacement parts and repairs 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 indication of a good company.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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.