Solar Panel Cost Guide in Lake Monticello, VA (2025 Update)
- Lake Monticello Solar Installation Cost: $19,604
- 25-Year Savings: $22,678
- Payback Period: 13.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Lake Monticello
Find out what the average cost of solar panel installation is in Lake Monticello.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Monticello, the typical cost of solar panels is 4 per watt.The average Lake Monticello homeowner needs a 7.8-kilowatt system, which would cost about $19,604 with the federal tax credit, or $28,034 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Lake Monticello homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Even with the large initial cost, the average Lake Monticello homeowner can save about $18,000 on their energy bills over 20 years, which is one of the benefits of solar.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lake Monticello
| Year | Return on Investment |
|---|---|
| 1 years | $-18,005 |
| 3 years | $-14,807 |
| 5 years | $-11,609 |
| 7 years | $-8,411 |
| 9 years | $-5,213 |
| 11 years | $-2,016 |
| 13 years | $1,182 |
| 15 years | $4,380 |
| 17 years | $7,578 |
| 19 years | $10,776 |
| 21 years | $13,974 |
| 23 years | $17,172 |
| 25 years | $20,370 |
Top Solar Installers in Lake Monticello
Many homeowners opt for a solar panel company since trying to put up solar panels by yourself can be a lot of work. Also, if you’d like to maximize your investment in solar, going with a solar installer can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
See all of the solar companies in Lake Monticello
Factors that Affect Solar Panel Costs in Lake Monticello
The cost of installing a solar system in Lake Monticello can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant 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 panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,590.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Lake Monticello, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Lake Monticello offer solar loans, which reduce the initial cost of installing solar.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $13,311 | 13.5 years |
| 8 kW | $3.66 | $20,506 | $18,150 | 13.3 years |
| 10 kW | $3.59 | $25,130 | $23,190 | 13.0 years |
| 12 kW | $3.52 | $29,553 | $28,431 | 12.7 years |
| 14 kW | $3.45 | $33,775 | $33,873 | 12.5 years |
| 16 kW | $3.37 | $37,796 | $39,517 | 12.2 years |
| 18 kW | $3.30 | $41,615 | $45,361 | 12.0 years |
| 20 kW | $3.23 | $45,234 | $51,406 | 11.7 years |
How to Save on Solar Panels
The solar company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
EcoWatch's Lake Monticello, VA Solar Cost FAQs
What is the average cost of installing solar panels in Lake Monticello?
The average cost of solar panels in Lake Monticello 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 things like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Lake Monticello?
You can’t get solar panels for free in Lake Monticello. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Lake Monticello have a net metering program?
Most states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.