Solar Panel Cost Guide in Wilmington Island, GA (2024 Update)
- Wilmington Island Solar Installation Cost: $15,966
- 25-Year Savings: $24,775
- Payback Period: 11.2 Years
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Average Cost of Solar Panels in Wilmington Island
Find out what the average cost of installing solar panels is in Wilmington Island.
While the national average of solar panels is $2.66 per watt, solar panels in Wilmington Island typically cost about 4.Using this figure, a typical 6.1-kW system would cost about $15,966 before the 0 federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will look different based on factors unique to your home and what company you want to go with.But, once you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $22,000 over 20 years on power bills.
Click the button below to get connected to a top solar installer in your area for a customized quote.
Solar savings over time in Wilmington Island
| Year | Return on Investment |
|---|---|
| 1 years | $-14,373 |
| 3 years | $-11,186 |
| 5 years | $-8,000 |
| 7 years | $-4,813 |
| 9 years | $-1,627 |
| 11 years | $1,560 |
| 13 years | $4,746 |
| 15 years | $7,933 |
| 17 years | $11,119 |
| 19 years | $14,306 |
| 21 years | $17,492 |
| 23 years | $20,679 |
| 25 years | $23,865 |
Top Solar Installers in Wilmington Island
When switching to solar energy, many homeowners opt to hire a solar installation company since handling can be a difficult project. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar installer in Wilmington Island, we've organized a list of our top suggestions here:
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 Wilmington Island
Factors that Affect Solar Panel Costs in Wilmington Island
The cost of installing a solar system in Wilmington Island can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Wilmington Island, one of the most crucial 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 usage, which you can figure out by looking at past electricity bills. Your total cost can increase by around $3,740 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Wilmington Island, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Wilmington Island offer solar loans, which reduce the initial cost of installing solar panels.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Wilmington Island is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that offer a range of services at different price points.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $18,748 | 11.6 years |
| 8 kW | $3.81 | $21,363 | $25,416 | 11.4 years |
| 10 kW | $3.74 | $26,180 | $32,294 | 11.2 years |
| 12 kW | $3.67 | $30,788 | $39,381 | 11.0 years |
| 14 kW | $3.59 | $35,186 | $46,678 | 10.7 years |
| 16 kW | $3.52 | $39,375 | $54,184 | 10.5 years |
| 18 kW | $3.44 | $43,354 | $61,899 | 10.3 years |
| 20 kW | $3.37 | $47,124 | $69,824 | 10.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose considerably impacts your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Contract: Look through the contract terms closely to make sure you understand the total cost, completion timeline incentives and warranties.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
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 Wilmington Island, GA Solar Cost FAQs
How much does it cost to install solar panels in Wilmington Island?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $18,700 for a 5-kW system and $37,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Wilmington Island?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Wilmington Island, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 uses 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 home 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.