Solar Panel Cost Guide in Belmont, VA (Mar 2023)
- Belmont Solar Installation Cost: $15,650
- 25-Year Savings: $20,554
- Payback Period: 10.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Belmont
Let's take a look at the average cost of solar in Belmont.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Belmont, the average cost of solar panels is 2.75 per watt. Using this figure, a typical 8.1-kW system would cost about $15,650 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary depending on several factors, such as how many panels you need, your energy consumption and what installation company you go with. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Belmont see about $17,000 in savings on utility bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in Belmont for a personalized quote.
Solar savings over time in Belmont
| Year | Return on Investment |
|---|---|
| 1 years | $-14,202 |
| 3 years | $-11,306 |
| 5 years | $-8,410 |
| 7 years | $-5,513 |
| 9 years | $-2,617 |
| 11 years | $279 |
| 13 years | $3,176 |
| 15 years | $6,072 |
| 17 years | $8,968 |
| 19 years | $11,865 |
| 21 years | $14,761 |
| 23 years | $17,657 |
| 25 years | $20,554 |
Top Solar Installers in Belmont
When making the switch to solar, many homeowners opt to go with a solar company since DIY solar panel installation can be a challenging project. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't sure which solar installer to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Belmont
Factors that Affect Solar Panel Costs in Belmont
While the average cost of a solar system in Belmont is $15,650, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,750. The type of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Belmont to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. You'll have to consider the long-term cost of loans, 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 getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Belmont, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies offer 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.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Belmont, VA Solar Cost FAQs
What is the average cost of installing solar panels in Belmont?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $13,750 for a 5-kW system and $27,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Belmont?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback 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 incentives 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 Belmont?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Belmont?
On average, solar panels can last 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 amount 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.