Solar Panel Cost Guide in Belmont, VA (2023 Update)
- Belmont Solar Installation Cost: $15,641
- 25-Year Savings: $20,562
- Payback Period: 10.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Belmont
Find out what the average cost of installing solar panels is in Belmont.
The national average cost of solar panels is $2.66 per watt, but in Belmont it's 2.75 per watt. The average solar panel system size in Belmont is around 8.1 kilowatts, meaning a cost of about $15,650 for a solar installation, or $22,380 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Belmont homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find adopting solar power is a sound investment. The average homeowner in Belmont can save around $17,000 on their power bills over 20 years.
To get a free estimate from a pre-vetted solar installation company in Belmont, you can click the button below.
Solar savings over time in Belmont
| Year | Return on Investment |
|---|---|
| 1 years | $-15,521 |
| 3 years | $-15,279 |
| 5 years | $-15,038 |
| 7 years | $-14,797 |
| 9 years | $-14,555 |
| 11 years | $-14,314 |
| 13 years | $-14,073 |
| 15 years | $-13,831 |
| 17 years | $-13,590 |
| 19 years | $-13,348 |
| 21 years | $-13,107 |
| 23 years | $-12,866 |
| 25 years | $-12,624 |
Top Solar Installers in Belmont
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make converting to solar power much easier. The expertise that solar companies provide can be helpful as well, especially if you aren't sure what type of solar equipment would be right for your home.
If you'd like to start using solar energy but still aren't sure which solar company to go with, here are our suggestions for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Belmont
Factors that Affect Solar Panel Costs in Belmont
There are a number of factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,750. There are several different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable option because they lower your upfront costs and let you pay for your system over five to seven years on average. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger 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 solar company you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Belmont, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.86 | $12,012 | $14,722 | 11.2 years |
| 8 kW | $2.81 | $15,708 | $19,937 | 11.0 years |
| 10 kW | $2.75 | $19,250 | $25,306 | 10.8 years |
| 12 kW | $2.69 | $22,638 | $30,829 | 10.6 years |
| 14 kW | $2.64 | $25,872 | $36,506 | 10.4 years |
| 16 kW | $2.58 | $28,952 | $42,337 | 10.2 years |
| 18 kW | $2.53 | $31,878 | $48,323 | 9.9 years |
| 20 kW | $2.48 | $34,650 | $54,462 | 9.7 years |
How to Save on Solar Panels
The solar company you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Warranty: If you care about the endurance of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Belmont, VA Solar Cost FAQs
How much does it cost to install solar panels in Belmont?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $13,750 for a 5-kW system and $27,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $891.12 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.