Solar Panel Cost Guide in Lebanon, VA (2023 Update)
- Lebanon Solar Installation Cost: $15,651
- 25-Year Savings: $20,289
- Payback Period: 10.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lebanon
Let's have a look at the average cost of solar panels in Lebanon.
The average cost of a solar panel system in Lebanon is 2.75 per watt. To account for the typical energy needs of the average home in Lebanon, most homeowners require a 8.1-kilowatt system. Using the figure above, a solar installation costs around $15,650, or $22,380 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average Lebanon homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $17,000 on energy bills over 20 years, many homeowners in Lebanon find investing in solar can be quite rewarding.
Click the button below to get connected to a highly rated solar company in Lebanon for a personalized estimate.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-15,531 |
| 3 years | $-15,291 |
| 5 years | $-15,052 |
| 7 years | $-14,812 |
| 9 years | $-14,573 |
| 11 years | $-14,333 |
| 13 years | $-14,093 |
| 15 years | $-13,854 |
| 17 years | $-13,614 |
| 19 years | $-13,375 |
| 21 years | $-13,135 |
| 23 years | $-12,895 |
| 25 years | $-12,656 |
Top Solar Installers in Lebanon
When switching to solar energy, many homeowners prefer to use a solar installation company since overseeing your solar installation yourself can be a time-consuming project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're on the hunt for a solar installer in Lebanon, we've compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Lebanon
Factors that Affect Solar Panel Costs in Lebanon
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Lebanon: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,750. There are many different solar panel brands and the one you choose also affects the cost. Generally, the brands that are more efficient tend to also be more expensive. Additionally, 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Lebanon homeowners opt to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can influence how much you pay. Lebanon's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $2.86 | $12,012 | $14,511 | 11.3 years |
| 8 kW | $2.81 | $15,708 | $19,656 | 11.1 years |
| 10 kW | $2.75 | $19,250 | $24,955 | 10.9 years |
| 12 kW | $2.69 | $22,638 | $30,408 | 10.7 years |
| 14 kW | $2.64 | $25,872 | $36,014 | 10.5 years |
| 16 kW | $2.58 | $28,952 | $41,775 | 10.2 years |
| 18 kW | $2.53 | $31,878 | $47,690 | 10.0 years |
| 20 kW | $2.48 | $34,650 | $53,759 | 9.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: Different companies have different brands and models of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lebanon, VA Solar Cost FAQs
How much does it cost to install solar panels in Lebanon?
This is a hard question to answer precisely, 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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Lebanon?
A solar panel system isn't free in Lebanon, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Lebanon?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.