Solar Panel Cost Guide in Oakwood, GA (Mar 2023)
- Oakwood Solar Installation Cost: $12,120
- 25-Year Savings: $20,385
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Oakwood
We go over average solar pricing in Oakwood.
The national average cost of solar panels is $2.66 per watt, but in Oakwood it's 2.55 per watt. The average Oakwood homeowner needs a 6.8-kilowatt system, which would cost about $12,120 with the federal tax credit, or $17,332 before the 30% tax credit is applied.
These figures are only estimates, and how much solar costs for you will differ based on your energy needs and what company you go with. With average savings of about $18,000 on power bills over 20 years, many homeowners in Oakwood find going solar can be quite rewarding.
Click the button below to get connected to a highly rated solar installer in Oakwood for a custom quote.
Solar savings over time in Oakwood
| Year | Return on Investment |
|---|---|
| 1 years | $-10,820 |
| 3 years | $-8,220 |
| 5 years | $-5,619 |
| 7 years | $-3,019 |
| 9 years | $-418 |
| 11 years | $2,182 |
| 13 years | $4,783 |
| 15 years | $7,383 |
| 17 years | $9,983 |
| 19 years | $12,584 |
| 21 years | $15,184 |
| 23 years | $17,785 |
| 25 years | $20,385 |
Top Solar Installers in Oakwood
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make your swap to solar power much easier. The expertise that solar installers offer can be helpful as well, particularly if you aren't sure what brand of solar equipment you need.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Oakwood
Factors that Affect Solar Panel Costs in Oakwood
There are several criteria that can influence your total 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
When it comes to estimating the cost of a solar energy system in Oakwood, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $2,550 for each additional kilowatt you need. There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Oakwood homeowners opt to finance their solar panel systems to make paying for solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have 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 | $17,595 | 9.7 years |
| 8 kW | $2.60 | $14,566 | $23,745 | 9.5 years |
| 10 kW | $2.55 | $17,850 | $30,038 | 9.3 years |
| 12 kW | $2.50 | $20,992 | $36,474 | 9.1 years |
| 14 kW | $2.45 | $23,990 | $43,053 | 8.9 years |
| 16 kW | $2.40 | $26,846 | $49,775 | 8.8 years |
| 18 kW | $2.35 | $29,560 | $56,639 | 8.6 years |
| 20 kW | $2.29 | $32,130 | $63,647 | 8.4 years |
How to Save on Solar Panels
There are many companies to choose from in Oakwood, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Solar Panel Brands: The brand of solar panel you need plays a part in which company you should choose, since different companies offer different panels.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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 Oakwood, GA Solar Cost FAQs
How much does it cost to install solar panels in Oakwood?
The average cost of solar panels in Oakwood 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 stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Oakwood?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
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 their energy production will have decreased significantly after that point. You can decide 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.