Solar Panel Cost Guide in Virginia, MN (2024 Update)
- Virginia Solar Installation Cost: $21,487
- 25-Year Savings: $19,923
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Virginia
Let’s have a look at the average cost of solar in Virginia.
While the national average of solar panels is $2.66 per watt, solar panels in Virginia generally cost around 4.Using this figure, a typical 7.6-kW system would cost about $21,487 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in Virginia depending on a few factors, such as the type of solar panels you choose and the solar company you hire.Even with the high initial cost, the average Virginia homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a vetted solar panel company in Virginia for a custom estimate.
Solar savings over time in Virginia
| Year | Return on Investment |
|---|---|
| 1 years | $-20,095 |
| 3 years | $-17,310 |
| 5 years | $-14,525 |
| 7 years | $-11,740 |
| 9 years | $-8,956 |
| 11 years | $-6,171 |
| 13 years | $-3,386 |
| 15 years | $-601 |
| 17 years | $2,184 |
| 19 years | $4,969 |
| 21 years | $7,753 |
| 23 years | $10,538 |
| 25 years | $13,323 |
Top Solar Installers in Virginia
Although you can install solar panels by yourself, it requires extra energy and handiness. That's one of the reasons most people choose to hire a solar panel installer. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Virginia
Factors that Affect Solar Panel Costs in Virginia
There are many criteria that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Virginia to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies operating in Virginia, and each can charge different amounts for labor and equipment.Additionally, some companies in Virginia are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.19 | $17,603 | $10,018 | 15.9 years |
| 8 kW | $4.11 | $23,019 | $13,809 | 15.6 years |
| 10 kW | $4.03 | $28,210 | $17,826 | 15.3 years |
| 12 kW | $3.95 | $33,175 | $22,068 | 15.0 years |
| 14 kW | $3.87 | $37,914 | $26,536 | 14.7 years |
| 16 kW | $3.79 | $42,428 | $31,229 | 14.4 years |
| 18 kW | $3.71 | $46,716 | $36,149 | 14.1 years |
| 20 kW | $3.63 | $50,778 | $41,294 | 13.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: If you’re concerned about the durability of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Contract: Before signing a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Virginia, MN Solar Cost FAQs
What is the average cost of installing solar panels in Virginia?
The average cost of solar panels in Virginia is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Virginia?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Can you sell solar power back to the grid in Virginia?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
How long do solar panels last in Virginia?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.