Solar Panel Cost Guide in Covington, VA (2024 Update)
- Covington Solar Installation Cost: $20,135
- 25-Year Savings: $3,707
- Payback Period: 26.3 Years
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Average Cost of Solar Panels in Covington
We go over average solar pricing in Covington.
In Covington, solar panels cost about 4 per watt on average.The average solar panel system size in Covington is around 8.0 kilowatts, meaning a cost of about $20,135 for a solar installation, or $28,793 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Covington based on several factors, such as the type of solar panels you choose and the solar installer you hire.For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Covington see about $9,600 in savings on energy bills over 20 years.
To get a free quote from a top solar company in Covington, you can click the button below.
Solar savings over time in Covington
| Year | Return on Investment |
|---|---|
| 1 years | $-18,536 |
| 3 years | $-15,338 |
| 5 years | $-12,140 |
| 7 years | $-8,942 |
| 9 years | $-5,744 |
| 11 years | $-2,546 |
| 13 years | $651 |
| 15 years | $3,849 |
| 17 years | $7,047 |
| 19 years | $10,245 |
| 21 years | $13,443 |
| 23 years | $16,641 |
| 25 years | $19,839 |
Top Solar Installers in Covington
When going solar, many homeowners choose to hire a solar installation company since overseeing your solar installation yourself can be a challenging project. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 Covington
Factors that Affect Solar Panel Costs in Covington
The cost of installing a solar system in Covington can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Covington, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $3,590 for each additional kilowatt you need.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Covington average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Covington homeowners choose to finance their solar panel systems to offset upfront costs.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Covington is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for example, you’ll have many options for solar installers that provide a range of services at different price points.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $-1,355 | 27.4 years |
| 8 kW | $3.66 | $20,506 | $-1,405 | 26.8 years |
| 10 kW | $3.59 | $25,130 | $-1,253 | 26.3 years |
| 12 kW | $3.52 | $29,553 | $-901 | 25.8 years |
| 14 kW | $3.45 | $33,775 | $-347 | 25.3 years |
| 16 kW | $3.37 | $37,796 | $407 | 24.7 years |
| 18 kW | $3.30 | $41,615 | $1,363 | 24.2 years |
| 20 kW | $3.23 | $45,234 | $2,520 | 23.7 years |
How to Save on Solar Panels
The solar panel company you choose will affect 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 a few important things you should take into account, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: If you’re worried about the longevity of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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 Covington, VA Solar Cost FAQs
How much does it cost to install solar panels in Covington?
The average cost of solar panels in Covington is about $17,950 for a 5-kW system and $35,900 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Covington?
You can’t get solar panels for free in Covington. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Covington?
Solar panels can be a beneficial investment for many 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 pretty low, solar panels might not be for you.
How long do solar panels last in Covington?
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 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.
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.