Solar Panel Cost Guide in Chesapeake, VA (Mar 2023)
- Chesapeake Solar Installation Cost: $14,052
- 25-Year Savings: $22,151
- Payback Period: 9.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Chesapeake
We break down average solar pricing in Chesapeake.
In Chesapeake, solar panels cost about 2.75 per watt on average. Using this figure, a typical 7.3-kW system would cost about $14,052 before the 30% federal solar tax credit is applied.
The true cost of your system can go above or below the average in Chesapeake based on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $19,000 in savings on electricity bills over 20 years.
To receive a free quote from a pre-vetted solar company in Chesapeake, you can click the button below.
Solar savings over time in Chesapeake
| Year | Return on Investment |
|---|---|
| 1 years | $-12,604 |
| 3 years | $-9,708 |
| 5 years | $-6,812 |
| 7 years | $-3,915 |
| 9 years | $-1,019 |
| 11 years | $1,877 |
| 13 years | $4,773 |
| 15 years | $7,670 |
| 17 years | $10,566 |
| 19 years | $13,462 |
| 21 years | $16,359 |
| 23 years | $19,255 |
| 25 years | $22,151 |
Top Solar Installers in Chesapeake
Many homeowners decide to hire a solar panel company since trying to put up solar panels yourself can be a lot of work. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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 Chesapeake
Factors that Affect Solar Panel Costs in Chesapeake
Even though the average cost of a solar system in Chesapeake is $14,052, your actual cost may differ. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the price of solar panels in Chesapeake, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by around $2,750 for each additional kilowatt you need. The kind of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to think 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 Chesapeake to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you pick will affect your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. The company's size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $17,753 | 10.1 years |
| 8 kW | $2.81 | $15,708 | $23,979 | 9.9 years |
| 10 kW | $2.75 | $19,250 | $30,359 | 9.7 years |
| 12 kW | $2.69 | $22,638 | $36,892 | 9.5 years |
| 14 kW | $2.64 | $25,872 | $43,580 | 9.3 years |
| 16 kW | $2.58 | $28,952 | $50,422 | 9.1 years |
| 18 kW | $2.53 | $31,878 | $57,418 | 8.9 years |
| 20 kW | $2.48 | $34,650 | $64,567 | 8.7 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
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 Chesapeake, VA Solar Cost FAQs
How much does it cost to install solar panels in Chesapeake?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $13,750 for a 5-kW system and $27,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Chesapeake?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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 it worth going solar in Chesapeake?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
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.