Solar Panels Cost $6.9k-$16k in College Park, GA | October, 2024

Electricity Costs in College Park, GA & What that Means for Your Solar Panel Pricing

For College Park energy consumers, the typical electric bill is $118.85 per month, with a usage of 829 kWh. Compact apartments are also encompassed in the statistics mentioned in the previous sentence. The lower energy use in these types of residences impacts those averages.

The average electricity rate in College Park, GA in October 2024 is 14.33¢ per kWh.

To satisfy the electricity consumption of a typical consumer in College Park, a solar system of 7 kW or more is necessary. Presently, a 7 kW solar installation will cost you roughly $23,170at first, but thanks to the 30% federal tax credit, you get a 30% reimbursement, lowering the price to $16,219.

Are solar panels worth it in Georgia?

If you intend to own your residence longer than the solar system's payback period, solar panels are a good investment in College Park. Over a 20 year period, a 5 kW solar system in College Park, GA could save you approximately $16,939, with the average break even time being 8 years.

The cost of not having solar panels in College Park, GA

Besides missing out on the previously mentioned savings, not having solar panels or any backup energy system leaves you totally reliant on your electric utility for power. As demonstrated by recent news, total dependence on your utility isn't always the most favorable situation.

Lately, utilities in College Park have reported an average of 1.19 outages per customer annually. On average, each outage lasts for 126.36 minutes. Major events like tornadoes, equipment failure, or wildlife damage can considerably extend these durations.

Regardless of whether a backup battery is there or not, a solar panel system could reduce the pressure of potential future outages.

What impacts the cost of solar panels in College Park, GA?

Your Energy Needs - Even though larger solar panel systems have a higher initial cost, the cost per watt declines. Many consumers find it advantageous to install a system that can generate enough electricity to offset the entirety of their electric bill. This math makes the most sense for optimal savings.

Make & Model - Just like any other product, solar panels and mounting equipment are available in a variety of makes and models. The potential brand preferences of your chosen installer make it crucial to pick a recommended contractor. Opting for better quality equipment usually provides a more satisfying long-term experience for the buyer.

Solar Panel Type - Monocrystalline panels have become the industry standard, and for good reason. They are costlier but generate more energy. Most professionals in solar installation work with panels crafted from this material.

Your Property - Each property and home has its own characteristics. Factors such as trees, sloping terrain, or additional considerations can make the installation more challenging. Using satellite images, most solar installers these days can evaluate your home and incorporate these considerations into the preliminary cost estimate.

Labor Rates - Various wages are paid to employees by various companies, and these expenses are transferred to the consumers. Businesses paying higher wages typically get better reviews for their work and customer service.

Permitting & Interconnection - Depending on the area, local permitting and utility interconnection fees will influence the cost of your installation. Reliable local installers will build these figures into your first estimates to eliminate any surprises.