Solar Panel Cost Guide in Roanoke, TX (2023 Update)
- Roanoke Solar Installation Cost: $14,413
- 25-Year Savings: $16,968
- Payback Period: 11.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Roanoke
Let's take a look at the average cost of solar panels in Roanoke.
Although the national average of solar panels is $2.66 per watt, solar panels in Roanoke generally cost about 2.69. The average solar panel system size in Roanoke is around 7.7 kilowatts, meaning a cost of about $14,405 for a solar installation, or $20,599 before the 30% federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Roanoke depending on a few factors, such as the kind of solar panels you choose and the solar contractor you hire. But, once you've paid the upfront cost of installation, the payback for most homeowners is usually good, with a net average savings of about $16,000 over 20 years on power bills.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Roanoke
| Year | Return on Investment |
|---|---|
| 1 years | $-14,308 |
| 3 years | $-14,099 |
| 5 years | $-13,890 |
| 7 years | $-13,681 |
| 9 years | $-13,472 |
| 11 years | $-13,262 |
| 13 years | $-13,053 |
| 15 years | $-12,844 |
| 17 years | $-12,635 |
| 19 years | $-12,426 |
| 21 years | $-12,216 |
| 23 years | $-12,007 |
| 25 years | $-11,798 |
Top Solar Installers in Roanoke
When making the switch to solar, many homeowners choose to use a solar installer since handling can be a time-consuming project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Roanoke
Factors that Affect Solar Panel Costs in Roanoke
Though the average cost of a solar system in Roanoke is $14,405, your final cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use 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 $2,690. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Roanoke, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Roanoke offer solar loans, which reduce your upfront costs of installing solar. Although solar loans make going solar more accessible for Roanoke homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Roanoke, and each can charge varying amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that has the products, warranties and services you're looking for and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.80 | $11,750 | $12,849 | 11.9 years |
| 8 kW | $2.74 | $15,365 | $17,433 | 11.7 years |
| 10 kW | $2.69 | $18,830 | $22,168 | 11.5 years |
| 12 kW | $2.64 | $22,144 | $27,053 | 11.3 years |
| 14 kW | $2.58 | $25,308 | $32,090 | 11.0 years |
| 16 kW | $2.53 | $28,320 | $37,276 | 10.8 years |
| 18 kW | $2.47 | $31,182 | $42,614 | 10.6 years |
| 20 kW | $2.42 | $33,894 | $48,102 | 10.3 years |
How to Save on Solar Panels
There are many companies to choose from in Roanoke, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Roanoke, TX Solar Cost FAQs
What is the average cost of installing solar panels in Roanoke?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my property value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt 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 a solar system."
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.