Solar Panel Cost Guide in Hollins, VA (2024 Update)
- Hollins Solar Installation Cost: $19,691
- 25-Year Savings: $4,074
- Payback Period: 25.7 Years
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Average Cost of Solar Panels in Hollins
We break down average solar pricing in Hollins.
In Hollins, solar panels cost about 4 per watt on average.Using this figure, a typical 7.8-kW system would cost about $19,691 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in Hollins depending on several factors, such as the model of solar panels you choose and the solar contractor you hire.But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $9,800 over 20 years on power bills.
Click the button below to get connected to a highly rated solar installer in Hollins for a personalized estimate.
Solar savings over time in Hollins
| Year | Return on Investment |
|---|---|
| 1 years | $-18,271 |
| 3 years | $-15,432 |
| 5 years | $-12,592 |
| 7 years | $-9,753 |
| 9 years | $-6,914 |
| 11 years | $-4,074 |
| 13 years | $-1,235 |
| 15 years | $1,605 |
| 17 years | $4,444 |
| 19 years | $7,283 |
| 21 years | $10,123 |
| 23 years | $12,962 |
| 25 years | $15,802 |
Top Solar Installers in Hollins
Putting up solar panels on your own can be a dangerous undertaking, which is why getting a solar installation company is a good option for many homeowners. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Hollins
Factors that Affect Solar Panel Costs in Hollins
The cost of installing a solar system in Hollins can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,590.The brand of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions 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
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Hollins homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Hollins, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.The size of the company can sometimes play the most considerable role in the installation costs. 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 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 | $3.73 | $15,681 | $-1,012 | 26.7 years |
| 8 kW | $3.66 | $20,506 | $-947 | 26.2 years |
| 10 kW | $3.59 | $25,130 | $-681 | 25.7 years |
| 12 kW | $3.52 | $29,553 | $-214 | 25.2 years |
| 14 kW | $3.45 | $33,775 | $454 | 24.7 years |
| 16 kW | $3.37 | $37,796 | $1,323 | 24.2 years |
| 18 kW | $3.30 | $41,615 | $2,393 | 23.6 years |
| 20 kW | $3.23 | $45,234 | $3,665 | 23.1 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: The kind of solar panel you’d like plays a part in which company you should go with, since different companies offer different panels.
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 Hollins, VA Solar Cost FAQs
What is the average cost of installing solar panels in Hollins?
The average cost of solar panels in Hollins 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 kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Hollins?
Solar panels aren’t free in Hollins, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $488.99 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.