Solar Panel Cost Guide in Chesapeake, VA (2024 Update)
- Chesapeake Solar Installation Cost: $18,339
- 25-Year Savings: $22,155
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Chesapeake
See how much it might cost to make the switch to solar in Chesapeake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Chesapeake, the average cost of a solar system is 4 per watt.Using this figure, a typical 7.3-kW system would cost about $18,339 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Chesapeake 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.Even with the high upfront cost, the average Chesapeake homeowner can save about $19,000 on their energy bills over 20 years, which is one of the perks of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Chesapeake
| Year | Return on Investment |
|---|---|
| 1 years | $-16,740 |
| 3 years | $-13,543 |
| 5 years | $-10,345 |
| 7 years | $-7,147 |
| 9 years | $-3,949 |
| 11 years | $-751 |
| 13 years | $2,447 |
| 15 years | $5,645 |
| 17 years | $8,843 |
| 19 years | $12,041 |
| 21 years | $15,238 |
| 23 years | $18,436 |
| 25 years | $21,634 |
Top Solar Installers in Chesapeake
Putting up solar panels on your own can be a challenging undertaking, which is why using a solar installer is a good option for many homeowners. Plus, if you aren’t sure what kind of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Chesapeake
Factors that Affect Solar Panel Costs in Chesapeake
The cost of installing a solar system in Chesapeake can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, 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. There are several different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Chesapeake to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can influence the cost. Chesapeake’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 due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 | $14,084 | 13.2 years |
| 8 kW | $3.66 | $20,506 | $19,181 | 12.9 years |
| 10 kW | $3.59 | $25,130 | $24,479 | 12.7 years |
| 12 kW | $3.52 | $29,553 | $29,978 | 12.4 years |
| 14 kW | $3.45 | $33,775 | $35,678 | 12.2 years |
| 16 kW | $3.37 | $37,796 | $41,578 | 11.9 years |
| 18 kW | $3.30 | $41,615 | $47,680 | 11.7 years |
| 20 kW | $3.23 | $45,234 | $53,983 | 11.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Contract: When reading 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.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Chesapeake, VA Solar Cost FAQs
How much does it cost to install solar panels in Chesapeake?
The average cost of solar panels in Chesapeake 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.
Is it better to lease or buy solar panels in Chesapeake?
Leasing solar panels can be an option if you can’t pay upfront or secure 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 financial benefits from going solar.
Can solar panels eliminate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Chesapeake, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 larger 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.