Solar Panel Cost Guide in Cave Spring, VA (2024 Update)
- Cave Spring Solar Installation Cost: $19,617
- 25-Year Savings: $5,217
- Payback Period: 24.2 Years
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Average Cost of Solar Panels in Cave Spring
We break down average solar pricing in Cave Spring.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cave Spring, the typical cost of a solar system is 4 per watt.The average Cave Spring homeowner needs a 7.8-kilowatt system, which would cost about $19,617 with the federal tax credit, or $28,052 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Cave Spring homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find installing a solar system is a solid investment. The average homeowner in Cave Spring can save about $10,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Cave Spring
| Year | Return on Investment |
|---|---|
| 1 years | $-18,197 |
| 3 years | $-15,358 |
| 5 years | $-12,518 |
| 7 years | $-9,679 |
| 9 years | $-6,839 |
| 11 years | $-4,000 |
| 13 years | $-1,161 |
| 15 years | $1,679 |
| 17 years | $4,518 |
| 19 years | $7,358 |
| 21 years | $10,197 |
| 23 years | $13,036 |
| 25 years | $15,876 |
Top Solar Installers in Cave Spring
Putting up solar panels on your own can be a challenging task, which is why getting a solar installation company is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you choose which one will be right for your home.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Cave Spring
Factors that Affect Solar Panel Costs in Cave Spring
There are a number of criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,590. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Cave Spring, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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 companies in Cave Spring offer solar loans, which reduce your upfront costs of installing solar panels.You’ll have to consider the long-term cost of loans, including the total 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 more than the principal 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 solar company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $3.73 | $15,681 | $-122 | 25.2 years |
| 8 kW | $3.66 | $20,506 | $240 | 24.7 years |
| 10 kW | $3.59 | $25,130 | $803 | 24.2 years |
| 12 kW | $3.52 | $29,553 | $1,566 | 23.7 years |
| 14 kW | $3.45 | $33,775 | $2,531 | 23.3 years |
| 16 kW | $3.37 | $37,796 | $3,697 | 22.8 years |
| 18 kW | $3.30 | $41,615 | $5,063 | 22.3 years |
| 20 kW | $3.23 | $45,234 | $6,631 | 21.8 years |
How to Save on Solar Panels
There are numerous companies to choose from in Cave Spring, 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:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
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 Cave Spring, VA Solar Cost FAQs
How much does it cost to install solar panels in Cave Spring?
The average cost of solar panels in Cave Spring 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 like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $518.65 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.