Georgia Solar Information
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№15Georgia ranks in America for savings from installing solar panels on
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6134.35 kWhAC Energy output every year in Georgia in 4 kW system
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5.38 kWhSolar Radiation (kWh / m2 / day)
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12 ¢ /kWhThe cost of electricity today in Oconee Electric Member Corp
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24 ¢ /kWhIf you don't get solar. The forecast average utility price over the next 25 years
Georgia Solar Facts
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$1.43Average cost of a 4kw solar power system in 2019.
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4 yearsAverage system payback period.
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$50 778Average lifetime savings.
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4 ¢ /kWhLevelized cost of solar energy.
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4 kWRecommended system size.
- How much do solar panels cost in Georgia
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$1.43 per watt
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$5 648 total
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4 years
eorgia can easily become the top solar state in the nation in the very near future. The state has one of the fastest-growing solar markets in the country, and with so much sunlight throughout the year, Georgia is the perfect place to adopt solar. The average number of sun peak hours in Georgia is 4.74 hours per day, which ranks the Peach State quite high among the other states. Solar insolation during summer is much higher, which greatly improves solar panel efficiency and provides an excellent option for reducing high electric bills.
Georgia Solar Facts
- Georgia is home to the largest solar panel manufacturing factory in the Western Hemisphere owned by Hanwha Q CELLS.
- Currently, Georgia is the 4th leading state by solar installations in the nation.
- There are more than 3,000 people working in the solar industry in Georgia.
- In Georgia, the price of solar power fell from 13 cents per kilowatt-hour to way below 4 cents in the last five years.
The Cost of Solar Panels
As of October 2019, Georgia’s cost of a solar panel ranges from $2.49/W to $3.37/W.
To install a typical 5kW solar panel system one would pay from $12,500 to $17,000. On average, a net market price for the solar power system in Georgia is about $15,000. This price does not account for Federal Tax credit or any other rebates or incentives. Once those accounted for, the net price can be lowered significantly.
Georgia Solar Tax Credits
The Federal Investment Tax Credit – this government program allows you to get a 30% credit on your federal taxes in the following year, including parts and labor. The tax credit does not have a limit on its value. That will be the biggest saving for solar for residents of Georgia.
Georgia Solar Incentives and Rebates
Net Metering Program – Net Metering is a special policy that allows you to sell any extra electricity generated by your solar power system back to the utility company. The utility company will determine how much surplus electricity your solar system generated and pay you at the rate, which is determined by Georgia’s Public Service Commission.
Georgia Solar Power Rebates – Some of the smaller utility companies offer rebates to customers who install and connect their solar power systems to the grid. If you are a customer of one of these utility companies, you might be eligible for extra savings.
- Central Georgia EMC: $450/kW, systems up to 10kw
- Greystone Power: $450/kW, systems up to 10kw
- Jackson EMC: $450/kW, systems up to 10kw
Pros and Cons of Buying Solar Panels in Georgia
Advantages:
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Relatively short payback period
The payback period is a calculation that shows how long it will take you to recover the initial cost of the solar power system through electricity savings. Solar panels are more efficient than ever before, which means they generate more power, thereby decreasing the solar payback period. Depending on where you live in Georgia, your payback period may range from 8 to 12 years. -
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After the payback period, solar power is nearly free
You might be still paying a small interconnection fee to keep your solar power system plugged in after its capital cost is paid off. Besides that expense, all the electricity your solar power system generates will be free. -
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Great savings on a monthly electric bill
Once you set up a solar power system on your property, you will start making your own electricity. It means relying less on your local utility company, no worrying about utility rate inflation, and saving money on your monthly electric bill. The average yearly savings from solar in Georgia is around $1,000. -
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Helping the environment since solar energy is clean, sustainable, and renewable
Solar energy is plentiful, sustainable and renewable. Furthermore, generating solar power does not cause almost any pollution. When compared to some of the traditional fossil fuels, solar energy does not lead to the pollution of water and the atmosphere. On the contrary, it helps reduce the greenhouse effect and lowers our negative impact on the natural environment. -
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Support from the government and the state
The price of solar power system installation is much lower than what it used to be a few years ago. In addition, Georgia residents can save even more on their solar panels thanks to the Federal Tax Credit and very strong state Net Metering program. -
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Very low maintenance
Today, none of the solar panels on the markets have any moving parts and do not require any maintenance, besides occasional cleaning. Solar panels do not have wear and tear with usage, they are completely silent in operation, and should last for up to 30 years. -
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Excellent warranty protection
Nowadays, each solar panel comes with two types of warranties: a product guarantee and the performance warranty. The majority of top solar manufacturers offer extended product guarantees that will take care of any breakage or faulty equipment for up to 25 years, and also ensure optimal electricity generation even after 25 years of usage. -
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Increase in the property value
The most recent real estate studies reveal a national increase of at least 4.1% to the value of the home after solar power system installation. Moreover, according to recent studies by the Appraisal Institute, homes with installed PV systems sell both at higher prices and much faster compared to homes without solar power systems.
Disadvantages:
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The possible high initial cost
One of the biggest disadvantages of solar power, the initial cost can become quite high since it will include the price of solar panels, battery, inverter, all the necessary accessories, mounting equipment, and the installation itself. However, with solar prices being lower than ever before, and with the extended availability of Federal Income Tax Credit, switching to solar is a very smart investment. -
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Must have a large, open area for installation
To operate efficiently, PV panels must be installed on open, clear surfaces. Solar panels depend on sunlight to generate solar energy, and the more energy you need, the bigger the solar energy system will be, which may require a larger open area on your roof. Thankfully, as long as solar panels still have access to sunlight, solar panels can be installed not only on the roofs but also on the ground. -
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Must be a property owner to install
Today, the installation of solar power systems is mostly open to homeowners with excellent credit and good earnings. For renters, low-income individuals, or individuals without a job, solar advantages are not yet available.
Is It Worth Going Solar In Georgia?
Georgia sunny weather makes it a perfect place for switching to solar even though the state might not get some of the financial benefits from the local government as other states do. Nevertheless, Georgia has definitely taken action to become not only more solar-friendly but also a leader in the solar industry in the last few years. This fact, together with many other advantages of solar power makes it obvious that there is no better time than now to adopt solar in Georgia.
When you install your solar system, 30% of your project expenses apply toward a credit to offset any taxes you owe that year. This federal tax credit is a major incentive to go solar, but it is being phased out by 2022.
Most people are eligible to claim this credit (you must owe federal taxes to be eligible).
System size
- Mini
- Small
- Medium
- Large
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13 x 325 wattsolar panels - +
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13 x 300 wattmicroinverter - +
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1 x 5 000 wattinverter
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$5 647.75Estimated system cost
Excludes 30% Federal Tax Credit.
This price does not include the installation cost. -
4 yearsAverage system payback period
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$50 777.80Estimated utility savings
Example of 4 kW system calculation in Minnesota for electricity bill $100
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12 ¢ /kWhThe cost of electricity today in Oconee Electric Member Corp
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24 ¢ /kWhIf you don't get solar. The forecast average utility price over the next 25 years
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4 ¢ /kWhlevelized cost of solar energy