Solar Panel Cost Guide in Hopewell, VA (2023 Update)
- Hopewell Solar Installation Cost: $14,904
- 25-Year Savings: $21,046
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hopewell
We go over average solar pricing in Hopewell.
While the national average of solar panels is $2.66 per watt, solar panels in Hopewell typically cost around 2.75. Using this figure, a typical 7.7-kW system would cost about $14,899 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of going solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy consumption and what installation company you go with. With typical savings of about $18,000 on utility bills over 20 years, many homeowners in Hopewell find going solar can pay off big.
You can click the button below to get connected with a pre-vetted solar company in Hopewell that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hopewell
| Year | Return on Investment |
|---|---|
| 1 years | $-13,305 |
| 3 years | $-10,108 |
| 5 years | $-6,910 |
| 7 years | $-3,712 |
| 9 years | $-514 |
| 11 years | $2,684 |
| 13 years | $5,882 |
| 15 years | $9,080 |
| 17 years | $12,278 |
| 19 years | $15,476 |
| 21 years | $18,673 |
| 23 years | $21,871 |
| 25 years | $25,069 |
Top Solar Installers in Hopewell
Installing solar panels by yourself can be a difficult task, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be helpful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
There are various licensed solar professionals that can take care of your solar installation project. 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 Hopewell
Factors that Affect Solar Panel Costs in Hopewell
There are many criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Hopewell, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Hopewell, you'll have many options to choose from, but each comes at various price points for labor and equipment. Companies that 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're looking for 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 | $2.86 | $12,012 | $15,848 | 10.8 years |
| 8 kW | $2.81 | $15,708 | $21,438 | 10.6 years |
| 10 kW | $2.75 | $19,250 | $27,183 | 10.4 years |
| 12 kW | $2.69 | $22,638 | $33,081 | 10.2 years |
| 14 kW | $2.64 | $25,872 | $39,134 | 9.9 years |
| 16 kW | $2.58 | $28,952 | $45,340 | 9.7 years |
| 18 kW | $2.53 | $31,878 | $51,701 | 9.5 years |
| 20 kW | $2.48 | $34,650 | $58,215 | 9.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: If you're worried about the durability of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: The kind of solar panel you'd like plays a part in which company you should go with, since different companies have different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Hopewell, VA Solar Cost FAQs
How much does it cost to install solar panels in Hopewell?
The average cost of solar panels in Hopewell is about $13,750 for a 5-kW system and $27,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump 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 electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Hopewell, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.