Solar Panel Cost Guide in Lovejoy, GA (Mar 2023)
- Lovejoy Solar Installation Cost: $11,995
- 25-Year Savings: $20,552
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lovejoy
Let's take a look at the average cost of solar panels in Lovejoy.
The national average cost of solar panels is $2.66 per watt, but in Lovejoy it's 2.55 per watt. Using this figure, a typical 6.7-kW system would cost about $11,995 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary based on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $18,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar installer in Lovejoy for a quote for your home.
Solar savings over time in Lovejoy
| Year | Return on Investment |
|---|---|
| 1 years | $-10,693 |
| 3 years | $-8,090 |
| 5 years | $-5,486 |
| 7 years | $-2,882 |
| 9 years | $-278 |
| 11 years | $2,325 |
| 13 years | $4,929 |
| 15 years | $7,533 |
| 17 years | $10,137 |
| 19 years | $12,740 |
| 21 years | $15,344 |
| 23 years | $17,948 |
| 25 years | $20,552 |
Top Solar Installers in Lovejoy
Trying to put up solar panels by yourself can be a difficult project, which is why getting a solar installer is a good option for many homeowners. Plus, if you aren't sure what brand of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
Working with a licensed 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 (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 Lovejoy
Factors that Affect Solar Panel Costs in Lovejoy
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Lovejoy: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most significant 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 around $2,550 per kilowatt in Lovejoy. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Lovejoy offer solar loans, which reduce your upfront costs of installing a solar system. However, the interest on solar loans also adds to your all-in costs, so it's vital to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you choose will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Lovejoy know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $17,924 | 9.6 years |
| 8 kW | $2.60 | $14,566 | $24,184 | 9.4 years |
| 10 kW | $2.55 | $17,850 | $30,587 | 9.2 years |
| 12 kW | $2.50 | $20,992 | $37,133 | 9.0 years |
| 14 kW | $2.45 | $23,990 | $43,822 | 8.8 years |
| 16 kW | $2.40 | $26,846 | $50,653 | 8.7 years |
| 18 kW | $2.35 | $29,560 | $57,627 | 8.5 years |
| 20 kW | $2.29 | $32,130 | $64,744 | 8.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy 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 you can expect about the cost.
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 Lovejoy, GA Solar Cost FAQs
What is the average cost of installing solar panels in Lovejoy?
The average cost of solar panels in Lovejoy is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Lovejoy?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.