Solar Panel Cost Guide in Lake of the Woods, VA (2024 Update)
- Lake of the Woods Solar Installation Cost: $19,812
- 25-Year Savings: $20,215
- Payback Period: 14.0 Years
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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.
Although the national average of solar panels is $2.66 per watt, solar panels in Lake of the Woods generally cost around 4.The average Lake of the Woods homeowner needs a 7.9-kilowatt system, which would cost about $19,812 with the federal tax credit, or $28,331 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.But, after you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar company in Lake of the Woods that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lake of the Woods
| Year | Return on Investment |
|---|---|
| 1 years | $-18,213 |
| 3 years | $-15,015 |
| 5 years | $-11,817 |
| 7 years | $-8,620 |
| 9 years | $-5,422 |
| 11 years | $-2,224 |
| 13 years | $974 |
| 15 years | $4,172 |
| 17 years | $7,370 |
| 19 years | $10,568 |
| 21 years | $13,766 |
| 23 years | $16,963 |
| 25 years | $20,161 |
Top Solar Installers in Lake of the Woods
Although it's possible to install solar panels by yourself, it requires extra energy and know-how. Because of that, the majority of homeowners choose to hire a solar panel installer. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
If you’d like to start using solar energy but still aren’t certain which solar system installer to go with, here are our recommendations for providers nearby:
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 Lake of the Woods
Factors that Affect Solar Panel Costs in Lake of the Woods
There are several criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects 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 energy needs.There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Lake of the Woods to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.You’ll have to consider the long-term cost of loans, including the amount of 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 APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Lake of the Woods, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions 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 | $11,253 | 14.6 years |
| 8 kW | $3.66 | $20,506 | $15,406 | 14.3 years |
| 10 kW | $3.59 | $25,130 | $19,760 | 14.0 years |
| 12 kW | $3.52 | $29,553 | $24,315 | 13.7 years |
| 14 kW | $3.45 | $33,775 | $29,071 | 13.4 years |
| 16 kW | $3.37 | $37,796 | $34,029 | 13.2 years |
| 18 kW | $3.30 | $41,615 | $39,187 | 12.9 years |
| 20 kW | $3.23 | $45,234 | $44,546 | 12.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose considerably impacts your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid 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: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which brand 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 ask for their list of offerings before making your decision.
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 Lake of the Woods, VA Solar Cost FAQs
How much does it cost to install solar panels in Lake of the Woods?
The average cost of solar panels in Lake of the Woods 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 stuff such as the type 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 certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Lake of the Woods?
On average, the lifespan of solar panels is 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 larger level 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.