Solar Panel Cost Guide in Collinsville, VA (2023 Update)
- Collinsville Solar Installation Cost: $14,765
- 25-Year Savings: $21,581
- Payback Period: 10.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Collinsville
Find out what the average cost of a solar system is in Collinsville.
The average cost of a solar panel system in Collinsville is 2.75 per watt. The average Collinsville homeowner needs a 7.7-kilowatt system, which would cost about $14,765 with the federal tax credit, or $21,114 before the 30% tax credit is applied.
How much you pay can go above or below the average in Collinsville based on several factors, such as the kind of solar panels you choose and the solar contractor you hire. Many homeowners find adopting solar power is a solid investment. The average homeowner in Collinsville can save about $18,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Collinsville
| Year | Return on Investment |
|---|---|
| 1 years | $-13,311 |
| 3 years | $-10,403 |
| 5 years | $-7,496 |
| 7 years | $-4,588 |
| 9 years | $-1,680 |
| 11 years | $1,227 |
| 13 years | $4,135 |
| 15 years | $7,043 |
| 17 years | $9,950 |
| 19 years | $12,858 |
| 21 years | $15,766 |
| 23 years | $18,673 |
| 25 years | $21,581 |
Top Solar Installers in Collinsville
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring a solar panel installer can make your swap to solar power much easier. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Collinsville:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Collinsville
Factors that Affect Solar Panel Costs in Collinsville
Though the average cost of a solar system in Collinsville is $14,765, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, 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. There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much 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 Collinsville to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time because of interest. Although solar loans make switching to solar energy more accessible for Collinsville homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can impact your pricing. Collinsville's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to 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 promotion can bring their pricing lower to compete with bigger names.
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 | $16,410 | 10.6 years |
| 8 kW | $2.81 | $15,708 | $22,188 | 10.4 years |
| 10 kW | $2.75 | $19,250 | $28,120 | 10.2 years |
| 12 kW | $2.69 | $22,638 | $34,206 | 10.0 years |
| 14 kW | $2.64 | $25,872 | $40,446 | 9.8 years |
| 16 kW | $2.58 | $28,952 | $46,840 | 9.5 years |
| 18 kW | $2.53 | $31,878 | $53,388 | 9.3 years |
| 20 kW | $2.48 | $34,650 | $60,090 | 9.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Collinsville, VA Solar Cost FAQs
How much does it cost to install solar panels in Collinsville?
This is a tough question to answer precisely, because the cost depends on many factors. Generally 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Collinsville is currently $95,364, so you can look forward to a value of about $3,910 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Collinsville is a rewarding investment.
How long do solar panels last in Collinsville?
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 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.