Solar Panel Cost Guide in Hollymead, VA (2023 Update)
- Hollymead Solar Installation Cost: $15,070
- 25-Year Savings: $20,321
- Payback Period: 10.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hollymead
Here's how much it might cost to make the switch to solar in Hollymead.
In Hollymead, solar panels cost about 2.75 per watt on average. The average Hollymead homeowner needs a 7.8-kilowatt system, which would cost about $15,073 with the federal tax credit, or $21,554 before the 30% tax credit is applied.
These figures are only averages, and the cost of going solar for you may look different based on your specific situation and what company you go with. Even with the high upfront cost, the average Hollymead homeowner can save about $17,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Hollymead
| Year | Return on Investment |
|---|---|
| 1 years | $-13,471 |
| 3 years | $-10,273 |
| 5 years | $-7,075 |
| 7 years | $-3,877 |
| 9 years | $-679 |
| 11 years | $2,518 |
| 13 years | $5,716 |
| 15 years | $8,914 |
| 17 years | $12,112 |
| 19 years | $15,310 |
| 21 years | $18,508 |
| 23 years | $21,706 |
| 25 years | $24,904 |
Top Solar Installers in Hollymead
When switching to solar energy, many homeowners decide to go with a solar installation company since putting up a solar system yourself can be a time-consuming project. Companies can also have access to a large variety of the best solar panels and help you choose which one will be right for your home.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Hollymead
Factors that Affect Solar Panel Costs in Hollymead
The cost of installing a solar system in Hollymead can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Hollymead provide solar loans, which reduce the initial cost of installing solar. While solar loans make going solar more accessible for Hollymead homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Hollymead is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there's no shortage of solar installers that offer a range of services at different costs. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $15,112 | 11.1 years |
| 8 kW | $2.81 | $15,708 | $20,458 | 10.9 years |
| 10 kW | $2.75 | $19,250 | $25,957 | 10.6 years |
| 12 kW | $2.69 | $22,638 | $31,611 | 10.4 years |
| 14 kW | $2.64 | $25,872 | $37,418 | 10.2 years |
| 16 kW | $2.58 | $28,952 | $43,380 | 10.0 years |
| 18 kW | $2.53 | $31,878 | $49,495 | 9.8 years |
| 20 kW | $2.48 | $34,650 | $55,765 | 9.6 years |
How to Save on Solar Panels
There are a large number of companies available in Hollymead, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: The model of solar panel you want to install plays a role in which company you should opt for, since different companies have different panels.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Hollymead, VA Solar Cost FAQs
What is the average cost of installing solar panels in Hollymead?
The average cost of solar panels in Hollymead is about $13,750 for a 5-kW system and $27,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels eliminate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Hollymead, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.