Solar Panel Cost Guide in Broadway, VA (2025 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.
Although the national average of solar panels is $2.66 per watt, solar panels in Broadway typically cost about 4.Using this figure, a typical 8.0-kW system would cost about $20,066 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Broadway see about $17,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar company in Broadway 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
Although you can install solar panels yourself, it requires extra labor and know-how. That's why most people choose to hire a solar panel installer. Solar warranties and repairs are usually included in the cost of installation when you hire a solar company too, which can save you more money after your upfront investment.
If you're on the hunt for a solar installer in Broadway, we've put together a list of our top suggestions here:
See all of the solar companies in Broadway
Factors that Affect Solar Panel Costs in Broadway
The cost of installing a solar system in Broadway can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Broadway homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your total costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Broadway is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.Additionally, some companies in Broadway are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $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
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 challenge, we have some tips to help you, such as:
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
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 actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Broadway?
Leasing solar panels can be an option if you are unable to 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 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 financial benefits from going solar.
Is it worth going solar in Broadway?
Solar panels can be a good 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 electricity bills are already reasonably 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 larger 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.