Solar Panel Cost Guide in Laurel, DE (2024 Update)
- Laurel Solar Installation Cost: $13,911
- 25-Year Savings: $15,100
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Laurel
Find out what the average cost of solar panel installation is in Laurel.
While the national average of solar panels is $2.66 per watt, solar panels in Laurel generally cost about 3.To account for the typical energy usage of the average home in Laurel, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,911, or $19,893 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and your own solar costs may look different based on the amount of energy your home requires and what company you want to go with.For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $16,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Laurel that can help you get a more accurate cost estimate for your home.
Solar savings over time in Laurel
| Year | Return on Investment |
|---|---|
| 1 years | $-12,510 |
| 3 years | $-9,708 |
| 5 years | $-6,906 |
| 7 years | $-4,104 |
| 9 years | $-1,302 |
| 11 years | $1,500 |
| 13 years | $4,302 |
| 15 years | $7,104 |
| 17 years | $9,907 |
| 19 years | $12,709 |
| 21 years | $15,511 |
| 23 years | $18,313 |
| 25 years | $21,115 |
Top Solar Installers in Laurel
Although it's possible to install solar panels by yourself, it involves extra effort and knowledge. Because of that, most homeowners choose a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
If you’d like to switch to solar energy but still aren’t sure which solar installer to go with, here are our recommendations for providers near you:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Laurel
Factors that Affect Solar Panel Costs in Laurel
There are a number of criteria that can determine 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 price of solar panels in Laurel, 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 determine by looking at past energy bills. Your overall cost can increase by about $3,090 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also changes the cost. Generally, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Although solar loans make adopting solar energy more accessible for Laurel homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
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 Laurel is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.21 | $13,497 | $11,425 | 13.5 years |
| 8 kW | $3.15 | $17,650 | $15,580 | 13.3 years |
| 10 kW | $3.09 | $21,630 | $19,908 | 13.0 years |
| 12 kW | $3.03 | $25,437 | $24,408 | 12.8 years |
| 14 kW | $2.97 | $29,071 | $29,082 | 12.5 years |
| 16 kW | $2.90 | $32,532 | $33,929 | 12.2 years |
| 18 kW | $2.84 | $35,819 | $38,948 | 12.0 years |
| 20 kW | $2.78 | $38,934 | $44,141 | 11.7 years |
How to Save on Solar Panels
There are many companies to choose from in Laurel, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Laurel, DE Solar Cost FAQs
What is the average cost of installing solar panels in Laurel?
The average cost of solar panels in Laurel is about $15,450 for a 5-kW system and $30,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Laurel?
Solar panels aren’t free in Laurel, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Does Laurel have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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.