Solar Panel Cost Guide in James City, NC (2023 Update)
- James City Solar Installation Cost: $12,144
- 25-Year Savings: $20,026
- Payback Period: 9.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in James City
Let's have a look at the average cost of solar in James City.
The average cost of a solar system in James City is 2.54 per watt. Using this figure, a typical 6.8-kW system would cost about $12,144 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of James City homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in James City see about $18,000 in savings on utility bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in James City
| Year | Return on Investment |
|---|---|
| 1 years | $-10,673 |
| 3 years | $-7,731 |
| 5 years | $-4,788 |
| 7 years | $-1,846 |
| 9 years | $1,096 |
| 11 years | $4,038 |
| 13 years | $6,980 |
| 15 years | $9,923 |
| 17 years | $12,865 |
| 19 years | $15,807 |
| 21 years | $18,749 |
| 23 years | $21,691 |
| 25 years | $24,633 |
Top Solar Installers in James City
Many homeowners decide to use a solar installation company since installing solar panels on your own can be time-consuming. Local solar installers can also help you optimize your return on investment by assisting with any local incentives and by providing warranties and repairs.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in James City
Factors that Affect Solar Panel Costs in James City
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in James City: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,540. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in James City, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in James City, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in James City know more about local solar incentives and can help you make good use 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 | $2.64 | $11,095 | $17,165 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,171 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,320 | 9.4 years |
| 12 kW | $2.49 | $20,909 | $35,611 | 9.2 years |
| 14 kW | $2.44 | $23,896 | $42,044 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,619 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $55,336 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $62,196 | 8.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Contract: Before signing a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's James City, NC Solar Cost FAQs
How much does it cost to install solar panels in James City?
The average cost of solar panels in James City is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in James City?
Leasing solar panels can be an option if you can't pay upfront or secure 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 bang for your buck from going solar.
How will installing solar panels impact my property value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in James City?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.