Solar Panel Cost Guide in Fair Lakes, VA (2024 Update)
- Fair Lakes Solar Installation Cost: $20,263
- 25-Year Savings: $6,454
- Payback Period: 23.1 Years
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Average Cost of Solar Panels in Fair Lakes
Let’s have a look at the average cost of solar panels in Fair Lakes.
Although the national average of solar panels is $2.66 per watt, solar panels in Fair Lakes generally cost about 4.The average solar panel system size in Fair Lakes is around 8.1 kilowatts, meaning a cost of about $20,263 for a solar installation, or $28,976 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 Fair Lakes homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $11,000 on electricity bills over 20 years, many homeowners in Fair Lakes find installing solar panels can pay off big.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Fair Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-18,664 |
| 3 years | $-15,466 |
| 5 years | $-12,268 |
| 7 years | $-9,070 |
| 9 years | $-5,872 |
| 11 years | $-2,674 |
| 13 years | $524 |
| 15 years | $3,722 |
| 17 years | $6,919 |
| 19 years | $10,117 |
| 21 years | $13,315 |
| 23 years | $16,513 |
| 25 years | $19,711 |
Top Solar Installers in Fair Lakes
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with an installer can make switching to solar power much easier. Plus, if you’re unsure what type of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar installer in Fair Lakes, the EcoWatch team has put together a list of our top suggestions here:
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 Fair Lakes
Factors that Affect Solar Panel Costs in Fair Lakes
The cost of installing a solar system in Fair Lakes can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,590.There are many different solar panel brands and the one you pick also affects the cost. Typically, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Fair Lakes homeowners opt to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s important to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you select will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and better 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 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 | $3.73 | $15,681 | $672 | 24.0 years |
| 8 kW | $3.66 | $20,506 | $1,298 | 23.5 years |
| 10 kW | $3.59 | $25,130 | $2,125 | 23.1 years |
| 12 kW | $3.52 | $29,553 | $3,153 | 22.6 years |
| 14 kW | $3.45 | $33,775 | $4,382 | 22.1 years |
| 16 kW | $3.37 | $37,796 | $5,812 | 21.7 years |
| 18 kW | $3.30 | $41,615 | $7,443 | 21.2 years |
| 20 kW | $3.23 | $45,234 | $9,275 | 20.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- 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 kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
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 Fair Lakes, VA Solar Cost FAQs
What is the average cost of installing solar panels in Fair Lakes?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $17,950 for a 5-kW system and $35,900 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Fair Lakes?
You can’t get solar panels for free in Fair Lakes. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Fair Lakes?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How long do solar panels last in Fair Lakes?
On average, solar panels can last 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 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.