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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wilmington Island, the typical cost of solar panels is 4 per watt.The average Wilmington Island homeowner needs a 6.1-kilowatt system, which would cost about $15,966 with the federal tax credit, or $22,831 before the 0 tax credit is applied.
The actual price you pay can be higher or lower than the average in Wilmington Island based on several factors, such as the kind of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Wilmington Island see about $22,000 in savings on energy bills over 20 years.
To get a free estimate from a top solar installer in Wilmington Island, you can click the button below.
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
Many homeowners decide to use a solar panel installer since trying to put up solar panels on your own can be time-consuming. Another good thing about going with a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you’d like to make the switch to solar but still aren’t sure which solar panel company to go with, here are our suggestions for providers in Wilmington Island:
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 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 is determined by several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,740 per kilowatt in Wilmington Island.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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, more efficient panels could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Wilmington Island average.
Solar Financing Terms
Most solar installers in Wilmington Island provide solar loans, which reduce the initial cost of installing solar.However, the interest on solar loans also increases your overall costs, so it’s vital to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Wilmington Island, and each can charge varying amounts for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $3.89 | $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 type of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, 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 panel companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The type of solar panel you’d like plays a role in which company you should go with, since different companies have different panels.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- 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.
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 Wilmington Island, GA Solar Cost FAQs
How much does it cost to install solar panels in Wilmington Island?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly 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 cost more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Wilmington Island?
Leasing solar panels can be an option if you can’t afford to pay upfront or get 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.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,169.48 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a 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 buy 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.