Solar Panel Cost Guide in Hollymead, VA (2024 Update)
- Hollymead Solar Installation Cost: $19,673
- 25-Year Savings: $20,321
- Payback Period: 13.9 Years
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Average Cost of Solar Panels in Hollymead
See how much it might cost to switch to solar power in Hollymead.
Although the national average of solar panels is $2.66 per watt, solar panels in Hollymead typically cost about 4.Because a 7.8-kW system is needed to cover the energy usage of a typical home in Hollymead, the average price of going solar will be about $19,673 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Hollymead homeowner. The cost 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 $17,000 on electricity bills over 20 years, many homeowners in Hollymead find going solar can be quite rewarding.
To get a free estimate from a pre-vetted solar installation company in Hollymead, you can click the button below.
Solar savings over time in Hollymead
| Year | Return on Investment |
|---|---|
| 1 years | $-18,074 |
| 3 years | $-14,876 |
| 5 years | $-11,678 |
| 7 years | $-8,481 |
| 9 years | $-5,283 |
| 11 years | $-2,085 |
| 13 years | $1,113 |
| 15 years | $4,311 |
| 17 years | $7,509 |
| 19 years | $10,707 |
| 21 years | $13,905 |
| 23 years | $17,103 |
| 25 years | $20,300 |
Top Solar Installers in Hollymead
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make your swap to solar power much easier. Plus, if you’d like to maximize your investment in solar energy, going with a solar company can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
Working with a licensed solar installer can help your solar project go smoothly. 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
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Hollymead: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Hollymead, 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 consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $3,590 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Hollymead, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Hollymead homeowners decide 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 crucial to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Hollymead, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that provides the products, warranties and services you want and also fit into your budget.
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 | $11,443 | 14.5 years |
| 8 kW | $3.66 | $20,506 | $15,660 | 14.2 years |
| 10 kW | $3.59 | $25,130 | $20,077 | 13.9 years |
| 12 kW | $3.52 | $29,553 | $24,696 | 13.6 years |
| 14 kW | $3.45 | $33,775 | $29,516 | 13.3 years |
| 16 kW | $3.37 | $37,796 | $34,536 | 13.1 years |
| 18 kW | $3.30 | $41,615 | $39,758 | 12.8 years |
| 20 kW | $3.23 | $45,234 | $45,181 | 12.5 years |
How to Save on Solar Panels
The solar installer you choose will impact 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 several important things you should consider, including:
- Reputation: Companies that have been in business for many years 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.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Contract: When looking over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: If you’re concerned about the endurance of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
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
How much does it cost to install solar panels in Hollymead?
The average cost of solar panels in Hollymead is about $17,950 for a 5-kW system and $35,900 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Hollymead?
You can’t get solar panels for free in Hollymead. 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 solar panels completely eradicate my energy 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 $904.15 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses 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.