Solar Panel Cost Guide in Lake Ridge, VA (2023 Update)

  • Lake Ridge Solar Installation Cost: $15,354
  • 25-Year Savings: $21,447
  • Payback Period: 10.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated September 15, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lake Ridge

We break down average solar pricing in Lake Ridge.

The national average cost of solar panels is $2.66 per watt, but in Lake Ridge it's 2.75 per watt. The average Lake Ridge homeowner needs a 8.0-kilowatt system, which would cost about $15,361 with the federal tax credit, or $21,966 before the 30% tax credit is applied.

These figures are just estimates, and the cost of going solar for you may look different based on your energy needs and what company you choose to go with. Even with the significant upfront cost, the average Lake Ridge homeowner can save around $18,000 on their power bills over 20 years, which is one of the benefits of solar.

Click the button below to get connected to a vetted solar panel company in Lake Ridge for a personalized quote.

Solar savings over time in Lake Ridge

Year Return on Investment
1 years $-13,755
3 years $-10,557
5 years $-7,359
7 years $-4,161
9 years $-963
11 years $2,235
13 years $5,432
15 years $8,630
17 years $11,828
19 years $15,026
21 years $18,224
23 years $21,422
25 years $24,620

Top Solar Installers in Lake Ridge

When going solar, many homeowners decide to use a solar installation company since putting up solar panels yourself can be a challenging project. Plus, if you're unsure what type of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.

If you'd like to go solar but still aren't certain which solar panel installer to go with, here are our recommendations for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Warranty Coverage

ADT Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Lake Ridge

Factors that Affect Solar Panel Costs in Lake Ridge

There are a number of factors that can play into your solar system 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

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,750. The kind of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.

Solar Financing Terms

If paying for a solar system in cash is too expensive, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your overall costs, so it's vital to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

The solar installer you choose will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. 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 with an above-average cost. It's best to do some research and find a company that provides the products, warranties and services you want and also fits within 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 $15,671 10.8 years
8 kW $2.81 $15,708 $21,203 10.6 years
10 kW $2.75 $19,250 $26,889 10.4 years
12 kW $2.69 $22,638 $32,728 10.2 years
14 kW $2.64 $25,872 $38,722 10.0 years
16 kW $2.58 $28,952 $44,870 9.8 years
18 kW $2.53 $31,878 $51,172 9.6 years
20 kW $2.48 $34,650 $57,627 9.4 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:

  • Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
  • Contract: Before signing a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
  • Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Warranty Coverage

ADT Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Lake Ridge, VA Solar Cost FAQs

What is the average cost of installing solar panels in Lake Ridge?

This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $13,750 for a 5-kW system and $27,500 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Lake Ridge?

You can't get solar panels for free in Lake Ridge. 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.

How will having solar panels impact my property value?

Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

How often do you have to replace solar panels?

Even 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 opt to replace them after having them for that long or you can continue to use 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.

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