Solar Panel Cost Guide in Laurel, VA (Mar 2023)
- Laurel Solar Installation Cost: $14,976
- 25-Year Savings: $21,227
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Laurel
See how much it might cost to make the switch to solar in Laurel.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Laurel, the typical cost of solar panels is 2.75 per watt. The average Laurel homeowner needs a 7.8-kilowatt system, which would cost about $14,976 with the federal tax credit, or $21,416 before the 30% tax credit is applied.
These figures are just estimates, and the cost of going solar for you will most likely differ based on your energy needs and what company you want to go with. But, once you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on energy bills.
To get a free estimate from a pre-vetted solar installer in Laurel, you can click the button below.
Solar savings over time in Laurel
| Year | Return on Investment |
|---|---|
| 1 years | $-13,528 |
| 3 years | $-10,632 |
| 5 years | $-7,736 |
| 7 years | $-4,839 |
| 9 years | $-1,943 |
| 11 years | $953 |
| 13 years | $3,849 |
| 15 years | $6,746 |
| 17 years | $9,642 |
| 19 years | $12,538 |
| 21 years | $15,435 |
| 23 years | $18,331 |
| 25 years | $21,227 |
Top Solar Installers in Laurel
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your swap to solar power much easier. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Laurel
Factors that Affect Solar Panel Costs in Laurel
The cost of installing a solar system in Laurel can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,750 per kilowatt in Laurel. The model of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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 into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Laurel homeowners opt to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your total costs, so it's important to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Laurel, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. You may notice 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 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 | $2.86 | $12,012 | $15,906 | 10.8 years |
| 8 kW | $2.81 | $15,708 | $21,515 | 10.5 years |
| 10 kW | $2.75 | $19,250 | $27,279 | 10.3 years |
| 12 kW | $2.69 | $22,638 | $33,197 | 10.1 years |
| 14 kW | $2.64 | $25,872 | $39,269 | 9.9 years |
| 16 kW | $2.58 | $28,952 | $45,495 | 9.7 years |
| 18 kW | $2.53 | $31,878 | $51,875 | 9.5 years |
| 20 kW | $2.48 | $34,650 | $58,409 | 9.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose greatly impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The brand of solar panel you need to get plays a part in which installer you should go with, since different companies provide different panels.
- Reputation: Make sure your solar panel 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.
- Contract: Read the contract terms closely to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
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 Laurel, VA Solar Cost FAQs
How much does it cost to install solar panels in Laurel?
The average cost of solar panels in Laurel is about $13,750 for a 5-kW system and $27,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Laurel?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose 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.