Solar Panel Cost Guide in Lake Of The Woods, VA (Jan 2023)
- Lake Of The Woods Solar Installation Cost: $15,169
- 25-Year Savings: $20,222
- Payback Period: 10.7 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Lake Of The Woods
We break down average solar pricing in Lake Of The Woods.
The average cost of solar panels in Lake Of The Woods is $3 per watt. Using this figure, a typical 7.9 would cost about $15,169 before the 30% federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you may look different based on your energy needs and what company you go with. Many homeowners find going solar is a sound investment. The average homeowner in Lake Of The Woods can save around $17,000 on their electricity bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Lake Of The Woods
| Year | Return on Investment |
|---|---|
| 1 years | $-13,753 |
| 3 years | $-10,922 |
| 5 years | $-8,091 |
| 7 years | $-5,260 |
| 9 years | $-2,428 |
| 11 years | $403 |
| 13 years | $3,234 |
| 15 years | $6,066 |
| 17 years | $8,897 |
| 19 years | $11,728 |
| 21 years | $14,559 |
| 23 years | $17,391 |
| 25 years | $20,222 |
Top Solar Installers in Lake Of The Woods
Many homeowners opt for a solar installer since figuring out how to install solar panels on your own can be challenging. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be right for you.
There are a number of 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 (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Lake Of The Woods
Factors that Affect Solar Panel Costs in Lake Of The Woods
The cost of installing a solar system in Lake Of The Woods can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,750 per kilowatt in Lake Of The Woods. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Lake Of The Woods, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. Although solar loans make switching to solar energy more accessible for Lake Of The Woods homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Lake Of The Woods is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that offer a range of services at different price points. Additionally, some companies in Lake Of The Woods know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $14,922 | 11.1 years |
| 8 kW | $2.81 | $15,708 | $20,204 | 10.9 years |
| 10 kW | $2.75 | $19,250 | $25,640 | 10.7 years |
| 12 kW | $2.69 | $22,638 | $31,230 | 10.5 years |
| 14 kW | $2.64 | $25,872 | $36,974 | 10.3 years |
| 16 kW | $2.58 | $28,952 | $42,872 | 10.1 years |
| 18 kW | $2.53 | $31,878 | $48,924 | 9.9 years |
| 20 kW | $2.48 | $34,650 | $55,130 | 9.6 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Lake Of The Woods, VA Solar Cost FAQs
How much does it cost to install solar panels in Lake Of The Woods?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,750 for a 5-kW system and $27,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Lake Of The Woods?
You can't get solar panels for free in Lake Of The Woods. However, you may still be able to install 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.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Lake Of The Woods?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.