Solar Panel Cost Guide in Lovejoy, GA (2023 Update)
- Lovejoy Solar Installation Cost: $11,994
- 25-Year Savings: $20,553
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lovejoy
See how much it might cost to make the switch to solar in Lovejoy.
The national average cost of solar panels is $2.66 per watt, but in Lovejoy it's 2.55 per watt. The average solar panel system size in Lovejoy is around 6.7 kilowatts, meaning a cost of about $11,995 for a solar installation, or $17,153 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Lovejoy homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Lovejoy can save about $18,000 on their energy bills over 20 years.
Click the button below to get connected to a top solar company in Lovejoy for a custom quote.
Solar savings over time in Lovejoy
| Year | Return on Investment |
|---|---|
| 1 years | $-11,885 |
| 3 years | $-11,669 |
| 5 years | $-11,452 |
| 7 years | $-11,235 |
| 9 years | $-11,018 |
| 11 years | $-10,801 |
| 13 years | $-10,584 |
| 15 years | $-10,367 |
| 17 years | $-10,150 |
| 19 years | $-9,933 |
| 21 years | $-9,716 |
| 23 years | $-9,499 |
| 25 years | $-9,282 |
Top Solar Installers in Lovejoy
When switching to solar energy, many homeowners decide to hire a solar company since DIY solar panel installation can be a challenging project. The expertise that solar companies provide can be valuable as well, especially if you don't quite know what brand of solar equipment would be right for your home.
Working with a vetted solar installer can help your solar project go smoothly. 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 Lovejoy
Factors that Affect Solar Panel Costs in Lovejoy
There are a number of factors that can determine your 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 energy system you need for your household, 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 about $2,550. The brand and kind 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 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. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lovejoy to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you pick will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. 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 cost more. It's best to do some research and decide on the company that has the products, warranties and services you're looking for and also fits within 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 | $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
The solar panel company you opt for will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: The model of solar panel you want to get plays a part in which company you should opt for, since different companies offer different panels.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Contract: Before signing a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Lovejoy, GA Solar Cost FAQs
What is the average cost of installing solar panels in Lovejoy?
This is a tough question to answer precisely, because the cost depends on a variety of 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Lovejoy?
A solar panel system isn't free in Lovejoy, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Lovejoy have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 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 choose to replace them after having them for that long or you can keep using 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.