Solar Panel Cost Guide in Oakwood, GA (2024 Update)
- Oakwood Solar Installation Cost: $17,770
- 25-Year Savings: $20,389
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Oakwood
Here’s how much it might cost to make the switch to solar in Oakwood.
The average cost of a solar panel system in Oakwood is 4 per watt.Using this figure, a typical 6.8-kW system would cost about $17,770 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Oakwood depending on several factors, such as the type of solar panels you choose and the solar company you hire.With average savings of about $18,000 on energy bills over 20 years, many homeowners in Oakwood find installing solar panels can be quite rewarding.
To receive a free estimate from a pre-vetted solar installation company in Oakwood, you can click the button below.
Solar savings over time in Oakwood
| Year | Return on Investment |
|---|---|
| 1 years | $-16,177 |
| 3 years | $-12,991 |
| 5 years | $-9,804 |
| 7 years | $-6,618 |
| 9 years | $-3,431 |
| 11 years | $-245 |
| 13 years | $2,942 |
| 15 years | $6,128 |
| 17 years | $9,315 |
| 19 years | $12,501 |
| 21 years | $15,688 |
| 23 years | $18,874 |
| 25 years | $22,061 |
Top Solar Installers in Oakwood
Although you can install solar panels yourself, it involves extra time and expertise. Because of that, most homeowners choose to hire a solar panel installer. The expertise that solar installers offer can be helpful as well, especially if you don’t quite know what type of solar equipment would be right for your home.
If you're looking for a solar company in Oakwood, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
The cost of installing a solar system in Oakwood can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $3,740 per kilowatt in Oakwood.There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to get 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 utility bills over time, but they can also be a significant investment. That’s why many Oakwood homeowners decide to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your all-in costs, so it’s important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a role in determining how much it costs. Oakwood’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more 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 discount 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 | $3.89 | $16,336 | $12,397 | 14.2 years |
| 8 kW | $3.81 | $21,363 | $16,948 | 13.9 years |
| 10 kW | $3.74 | $26,180 | $21,708 | 13.7 years |
| 12 kW | $3.67 | $30,788 | $26,678 | 13.4 years |
| 14 kW | $3.59 | $35,186 | $31,858 | 13.1 years |
| 16 kW | $3.52 | $39,375 | $37,247 | 12.8 years |
| 18 kW | $3.44 | $43,354 | $42,845 | 12.6 years |
| 20 kW | $3.37 | $47,124 | $48,653 | 12.3 years |
How to Save on Solar Panels
The solar installer you go with 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 a few important things you should consider, including:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 $18,700 for a 5-kW system and $37,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase your home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Oakwood is currently $303,561, so you could be looking at a value of about $12,446 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Oakwood is a worthwhile investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.