Solar Panel Cost Guide in Pike Creek, DE (2024 Update)
- Pike Creek Solar Installation Cost: $14,456
- 25-Year Savings: $15,104
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Pike Creek
We break down average solar pricing in Pike Creek.
In Pike Creek, solar panels cost about 3 per watt on average.The average Pike Creek homeowner needs a 6.7-kilowatt system, which would cost about $14,456 with the federal tax credit, or $20,672 before the 0 tax credit is applied.
These figures are just averages, and how much solar costs for you will look different based on your energy needs and what company you go with.For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $15,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar installer in Pike Creek for a customized estimate.
Solar savings over time in Pike Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-13,055 |
| 3 years | $-10,253 |
| 5 years | $-7,451 |
| 7 years | $-4,649 |
| 9 years | $-1,847 |
| 11 years | $956 |
| 13 years | $3,758 |
| 15 years | $6,560 |
| 17 years | $9,362 |
| 19 years | $12,164 |
| 21 years | $14,966 |
| 23 years | $17,768 |
| 25 years | $20,570 |
Top Solar Installers in Pike Creek
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with an installer can make swapping over to solar power much easier. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Pike Creek
Factors that Affect Solar Panel Costs in Pike Creek
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Pike Creek: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar equipment you choose can bring your price up or down 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 over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the Pike Creek average.
Solar Financing Terms
Most solar installers in Pike Creek provide solar loans, which reduce the initial cost of installing solar.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Pike Creek is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services for different budgets.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk 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 | $10,899 | 13.8 years |
| 8 kW | $3.15 | $17,650 | $14,878 | 13.6 years |
| 10 kW | $3.09 | $21,630 | $19,030 | 13.3 years |
| 12 kW | $3.03 | $25,437 | $23,355 | 13.0 years |
| 14 kW | $2.97 | $29,071 | $27,853 | 12.8 years |
| 16 kW | $2.90 | $32,532 | $32,524 | 12.5 years |
| 18 kW | $2.84 | $35,819 | $37,368 | 12.2 years |
| 20 kW | $2.78 | $38,934 | $42,386 | 12.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- 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 adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project timeline incentives and warranties.
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 Pike Creek, DE Solar Cost FAQs
How much does it cost to install solar panels in Pike Creek?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $15,450 for a 5-kW system and $30,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Pike Creek?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to 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.
Do solar panels increase your home value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Pike Creek?
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 the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.