Solar Panel Cost Guide in Oakwood, GA (2023 Update)
- Oakwood Solar Installation Cost: $12,116
- 25-Year Savings: $20,389
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oakwood
Let's have a look at the average cost of solar panels in Oakwood.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Oakwood, the average cost of a solar system is 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.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar system you want, your solar contractor and more. With typical savings of about $18,000 on power bills over 20 years, many homeowners in Oakwood find going solar can be quite rewarding.
You can click the button below to get connected with a top solar company in Oakwood that can help you get a more accurate cost estimate for your home.
Solar savings over time in Oakwood
| Year | Return on Investment |
|---|---|
| 1 years | $-10,523 |
| 3 years | $-7,336 |
| 5 years | $-4,150 |
| 7 years | $-963 |
| 9 years | $2,223 |
| 11 years | $5,410 |
| 13 years | $8,596 |
| 15 years | $11,782 |
| 17 years | $14,969 |
| 19 years | $18,155 |
| 21 years | $21,342 |
| 23 years | $24,528 |
| 25 years | $27,715 |
Top Solar Installers in Oakwood
When making the switch to solar, many homeowners decide to hire a solar installer since DIY solar panel installation can be a time-consuming project. Also, companies with a good reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't certain which solar system company to go with, here are our suggestions for providers 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 Oakwood
Factors that Affect Solar Panel Costs in Oakwood
There are many criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,550. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Oakwood average.
Solar Financing Terms
Many homeowners find the average cost of solar in Oakwood to be too expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Oakwood, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: The kind of solar panel you'd like plays a part in which company you should go with, since different companies provide different panels.
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 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 actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Oakwood?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Oakwood?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much 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 needs and the amount of 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 get between 20 and 35 panels to cover 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.