Solar Panel Cost Guide in Glen Allen, VA (2023 Update)
- Glen Allen Solar Installation Cost: $14,978
- 25-Year Savings: $20,819
- Payback Period: 10.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Glen Allen
Find out what the average cost of installing solar panels is in Glen Allen.
The national average cost of solar panels is $2.66 per watt, but in Glen Allen it's 2.75 per watt. Since a 7.8-kW system is needed to cover the energy costs of a typical home in Glen Allen, the average price of going solar will be about $14,976 after claiming the federal solar tax credit of 30%.
The true cost of your system can be higher or lower than the average in Glen Allen based on several factors, such as the model of solar panels you choose and the solar company you hire. For many homeowners, the upfront cost of solar is worth paying. On average Glen Allen homeowners see about $17,000 in savings on electricity bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Glen Allen
| Year | Return on Investment |
|---|---|
| 1 years | $-13,379 |
| 3 years | $-10,181 |
| 5 years | $-6,983 |
| 7 years | $-3,785 |
| 9 years | $-588 |
| 11 years | $2,610 |
| 13 years | $5,808 |
| 15 years | $9,006 |
| 17 years | $12,204 |
| 19 years | $15,402 |
| 21 years | $18,600 |
| 23 years | $21,798 |
| 25 years | $24,995 |
Top Solar Installers in Glen Allen
Although it's possible to install solar panels on your own, it requires extra time and knowledge. For that reason, almost all homeowners choose to go with a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Glen Allen
Factors that Affect Solar Panel Costs in Glen Allen
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Glen Allen: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar equipment you choose can increase or decrease your cost 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. However, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Glen Allen average.
Solar Financing Terms
Most solar installers in Glen Allen provide solar loans, which reduce your upfront costs of installing a solar system. However, the interest on solar loans also increases your all-in costs, so it's crucial to keep that in mind as well. You can always bring down 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 influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Glen Allen are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $15,592 | 10.9 years |
| 8 kW | $2.81 | $15,708 | $21,098 | 10.7 years |
| 10 kW | $2.75 | $19,250 | $26,757 | 10.5 years |
| 12 kW | $2.69 | $22,638 | $32,570 | 10.3 years |
| 14 kW | $2.64 | $25,872 | $38,538 | 10.0 years |
| 16 kW | $2.58 | $28,952 | $44,659 | 9.8 years |
| 18 kW | $2.53 | $31,878 | $50,935 | 9.6 years |
| 20 kW | $2.48 | $34,650 | $57,364 | 9.4 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 find the right company for you, here are some tips to keep in mind:
- Installation Process: When making the switch to solar energy, it's essential to maintain an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the project completion timeline.
- Contract: Review the contract terms closely to make sure you understand the total cost, project timeline rebates and warranties.
- Solar Panel Brands: Different companies carry various brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Glen Allen, VA Solar Cost FAQs
How much does it cost to install solar panels in Glen Allen?
This is a difficult 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Glen Allen?
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 property 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 savings from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Glen Allen is currently $327,056, so you can look forward to a value of about $13,409 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Glen Allen is a fruitful investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.