Calculate how much you can save on your GP bill with solar panels

Average 25 year solar savings for a GP customer: $35,648

Average solar panel cost: $14,246 - $17,411*

Estimate solar panel cost and savings based on your location, roof and power use.

*Solar panel cost varies by location, solar panel mqanufacturer, system size and the amount of electricity your home uses.

Adding solar panels and switching rate plans can lower your Georgia Power electric bill

Updated: October 22, 2020

There are three ways you can reduce your GP bill: changing your habits, switching your rate plan, and adding solar panels.

You've probably heard a lot about reducing energy consumption by doing things like switching to LED lightbulbs and adding insulation to your walls, but these fixes are relatively easy compared to the far more impactful step of making changes to your lifestyle.

The second thing you can do is switch your rate plan. GP offers time-of-use billing that can help you save money by shifting your usage of energy-intensive appliances to off-peak hours, and there may be other options for you as well.

Finally, you can reduce or even eliminate your electricity bill by installing solar panels on your home.

Solar panel cost calculator

How much can I reduce my Georgia Power bill by switching to a different rate plan

For some people, the savings from switching rate plans may only be a few dollars per month, but for many it can be $20-$100 per month. That's between $240 and $1,200 that you may now be paying to Georgia Power each year for no reason.

Finding out what's available to you is as simple as a phone call or email to Georgia Power. Even a small savings can be worth it.

Are solar panels worth it for Georgia Power customers?

Maybe. With the 26% Federal solar tax credit, home solar panels are an investment worthy of your careful consideration as a Georgia Power customer. Georgia Power now offers monthly net metering to reach their goal of 32 megawatts of solar capacity. That allows you to get full retail credit on your power bill for the excess solar electricity your panels produce which you can’t use onsite. Your credits accrue at the same rate you pay for electricity, and roll over to the next month’s bill (as long as your credits don't eclipse your usage over the course of a month).

Does Georgia Power offer full 1 for 1 net metering credits for exported solar power

Georgia Power doesn't offer true net metering, which would be credits for excess kWh produced in one month that can be used to reduce the next month's bill by the same number of kWh. Instead, if your solar panels generate more energy than you need in one month, GP will pay you a lower rate for the excess. The program is also limited to 5000 people annually. Work with your installer to get enrolled!This is still a decent deal when it comes to solar savings, but unfortunately we can't call it net metering.

What incentives, tax credits and rebates are available to GP customers for installing solar?

The major financial incentive currently available until the end of 2020 is the 26% federal solar tax credit. The way this works is that the full cost of the system needs to be paid to the installer, and this tax credit can then be claimed back as cash when you next do your taxes.

Many states, local governments and utilities also offer incentives for homeowners who go solar. This help can take the form of state tax credits, rebates, tax breaks, SRECs or even performance-based incentives. The best part is that all of these incentives apply in addition to the federal credit.

Here is every incentive you may be eligible for as a GP customer:

Table 1: Incentives
Upfront Incentives Value*
Residential Renewable Energy Tax Credit (Federal) -$5,561
Net Metering (Utility)

A decision filed by the Georgia Public Service Commission in Georgia Power's 2019 rate case requires Georgia Power to offer net metering with monthly netting to 5,000 rooftop solar customers or 32 MW of capacity, whichever comes first.

Varies
TOTAL -$5,561

*Based on 9.62 kW system, average installation cost $21,390

How much does installing solar panels save the average Georgia Power residential customer?

If you input the details for a GP customer with a power bill of $170 per month into the best online solar panels calculator, it tells you that you need a 9.62 kW solar system that will produce 13,088 kWh per year and that this system will return the owner a $35,648 profit after repaying the cost of the system.

The solar savings possible for you as a GP customer will depend on the amount of electricity you use and the cost of the solar system you buy. Savings also vary based on the direction of your roof or any shading of your roof that affects output.

Here is a monthly and lifetime solar savings estimate for the same relatively typical GP customer with a $170 per month electric bill prior to solar and who installs a 9.62 kW solar system.

How much do residential solar panels cost for GP customers?

Solar prices near you

Cost range of local prices

$20,225-$24,719

Net profit (savings less system cost)

$36,635-$44,776

Payback period

10.4-12.7 years

Recommended size for the selected utility bill

11.5kW

Solar panel cost calculator

Detailed information about your estimate

Table 2: Estimate details

System Size (for 100% usage offset)

9.62 kW

Annual Power Generation

13,088 kWh

Pay-back time (assuming Cash purchase)

9.8 Years

Internal Rate of Return (IRR) on Investment

5.4%

Gross cost

$21,390

Total Upfront Incentives and Rebates

-$5,561

Net Cost of System after rebates and incentives

$15,828

Total Cost of Utility Power Avoided over 25 years

$51,476

Please note that the investment return figures do not include the possible increase in property value.

What are the environmental impacts of Georgia Power customers installing solar panels?

While most homeowners decide to install solar panels because of financial savings over time, the environmental impacts of this choice are the primary motive for others. Here is a breakdown of the environmental benefits from a Georgia Power customer installing a 9.62 kW solar system on their property:

A solar system generating 13,088 kWh per year will save you money AND make the world a nicer place

Saves you

$1,426

on average per year

Reduces CO2 emissions

6.48

tons per year

Equivalent to planting

45 trees

per year

Equivalent to driving

14,332 mi

less per year

CO2 emissions calculation based on the electricity generation and emissions data for your state in 2015 as published by the US Government Energy Information Administration.

What factors affect the price of solar panels for Georgia Power customers?

The cost of installing solar panels will vary with brands of solar panels and inverters you choose and also the installation company you choose to install them.

It is common to see really good systems, using quality brands of equipment, being sold for around $2.22 per watt or $15,828 for a standard 9.62 kW solar system after the customer claims the 26% federal solar tax credit.

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