Solar Panel Cost Guide in Hopewell, VA (2024 Update)
- Hopewell Solar Installation Cost: $19,457
- 25-Year Savings: $21,046
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Hopewell
Let’s take a look at the average cost of solar panels in Hopewell.
The average cost of a solar system in Hopewell is 4 per watt.The average solar panel system size in Hopewell is around 7.7 kilowatts, meaning a cost of about $19,457 for a solar installation, or $27,824 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what installation company you go with.Even with the high initial cost, the average Hopewell homeowner can save about $18,000 on their power bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Hopewell
| Year | Return on Investment |
|---|---|
| 1 years | $-17,858 |
| 3 years | $-14,660 |
| 5 years | $-11,462 |
| 7 years | $-8,264 |
| 9 years | $-5,066 |
| 11 years | $-1,869 |
| 13 years | $1,329 |
| 15 years | $4,527 |
| 17 years | $7,725 |
| 19 years | $10,923 |
| 21 years | $14,121 |
| 23 years | $17,319 |
| 25 years | $20,517 |
Top Solar Installers in Hopewell
When going solar, many homeowners choose to hire a solar installation company since overseeing your solar installation yourself can be a challenging project. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over time.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Hopewell
Factors that Affect Solar Panel Costs in Hopewell
For many Hopewell homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Hopewell, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond 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 searching for a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Hopewell, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.Even though solar loans make adopting solar energy more accessible for Hopewell homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can affect your pricing. Hopewell’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $3.73 | $15,681 | $12,178 | 14.1 years |
| 8 kW | $3.66 | $20,506 | $16,640 | 13.8 years |
| 10 kW | $3.59 | $25,130 | $21,303 | 13.5 years |
| 12 kW | $3.52 | $29,553 | $26,166 | 13.3 years |
| 14 kW | $3.45 | $33,775 | $31,231 | 13.0 years |
| 16 kW | $3.37 | $37,796 | $36,497 | 12.7 years |
| 18 kW | $3.30 | $41,615 | $41,963 | 12.4 years |
| 20 kW | $3.23 | $45,234 | $47,631 | 12.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before deciding.
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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 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 $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 certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Hopewell?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
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 stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had 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.