Solar Panel Cost Guide in Broadway, VA (2024 Update)
- Broadway Solar Installation Cost: $20,066
- 25-Year Savings: $20,023
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Broadway
We break down average solar pricing in Broadway.
The national average cost of solar panels is $2.66 per watt, but in Broadway it’s 4 per watt.To account for the typical energy usage of the average home in Broadway, most homeowners require a 8.0-kilowatt system. Using the figure above, a solar installation costs around $20,066, or $28,694 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and the cost of going solar for you will most likely vary based on your specific situation and what company you choose to go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in Broadway can save around $17,000 on their energy bills over 20 years.
Click the button below to get connected to a reputable solar company in your area for a customized quote.
Solar savings over time in Broadway
| Year | Return on Investment |
|---|---|
| 1 years | $-18,467 |
| 3 years | $-15,269 |
| 5 years | $-12,071 |
| 7 years | $-8,873 |
| 9 years | $-5,675 |
| 11 years | $-2,477 |
| 13 years | $721 |
| 15 years | $3,919 |
| 17 years | $7,116 |
| 19 years | $10,314 |
| 21 years | $13,512 |
| 23 years | $16,710 |
| 25 years | $19,908 |
Top Solar Installers in Broadway
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using an installer can make converting to solar power much easier. Another great thing about going with a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
If you’d like to go solar but still aren’t certain which solar installer to go with, here are our suggestions for providers in Broadway:
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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
See all of the solar companies in Broadway
Factors that Affect Solar Panel Costs in Broadway
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Broadway: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
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 $3,590. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Broadway, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Broadway homeowners decide to finance their solar panel systems to offset upfront costs.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can impact the cost. Broadway’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.73 | $15,681 | $10,915 | 14.7 years |
| 8 kW | $3.66 | $20,506 | $14,955 | 14.5 years |
| 10 kW | $3.59 | $25,130 | $19,197 | 14.2 years |
| 12 kW | $3.52 | $29,553 | $23,639 | 13.9 years |
| 14 kW | $3.45 | $33,775 | $28,283 | 13.6 years |
| 16 kW | $3.37 | $37,796 | $33,127 | 13.3 years |
| 18 kW | $3.30 | $41,615 | $38,173 | 13.0 years |
| 20 kW | $3.23 | $45,234 | $43,420 | 12.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose significantly influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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
EcoWatch's Broadway, VA Solar Cost FAQs
How much does it cost to install solar panels in Broadway?
The average cost of solar panels in Broadway is about $17,950 for a 5-kW system and $35,900 for a 10-kW system before the ITC, but the real cost will depend on things like the model 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 Broadway?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home 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.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Broadway?
On average, the lifespan of solar panels is 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.