Solar Panel Cost Guide in Loch Lomond, VA (2023 Update)
- Loch Lomond Solar Installation Cost: $15,361
- 25-Year Savings: $19,762
- Payback Period: 10.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Loch Lomond
Find out what the average cost of installing solar panels is in Loch Lomond.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Loch Lomond, the typical cost of a solar system is 2.75 per watt. To account for the typical energy needs of the average home in Loch Lomond, most homeowners require a 8.0-kilowatt system. Using the figure above, a solar installation costs around $15,361, or $21,966 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. Despite the significant initial cost, the average Loch Lomond homeowner can save around $17,000 on their energy bills over 20 years, which is one of the perks of solar.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Loch Lomond
| Year | Return on Investment |
|---|---|
| 1 years | $-13,957 |
| 3 years | $-11,147 |
| 5 years | $-8,337 |
| 7 years | $-5,527 |
| 9 years | $-2,717 |
| 11 years | $93 |
| 13 years | $2,903 |
| 15 years | $5,713 |
| 17 years | $8,523 |
| 19 years | $11,333 |
| 21 years | $14,143 |
| 23 years | $16,953 |
| 25 years | $19,762 |
Top Solar Installers in Loch Lomond
Installing solar panels on your own can be a stressful task, which is why hiring a solar installer is a good option for many homeowners. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are several 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Loch Lomond
Factors that Affect Solar Panel Costs in Loch Lomond
For many Loch Lomond homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Loch Lomond, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Loch Lomond, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by around $2,750 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Loch Lomond average.
Solar Financing Terms
Most solar installers in Loch Lomond provide solar loans, which reduce the initial cost of installing solar panels. 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'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 finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installer you choose will affect your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Loch Lomond have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $14,410 | 11.4 years |
| 8 kW | $2.81 | $15,708 | $19,522 | 11.1 years |
| 10 kW | $2.75 | $19,250 | $24,787 | 10.9 years |
| 12 kW | $2.69 | $22,638 | $30,207 | 10.7 years |
| 14 kW | $2.64 | $25,872 | $35,780 | 10.5 years |
| 16 kW | $2.58 | $28,952 | $41,507 | 10.3 years |
| 18 kW | $2.53 | $31,878 | $47,389 | 10.1 years |
| 20 kW | $2.48 | $34,650 | $53,424 | 9.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Loch Lomond, VA Solar Cost FAQs
How much does it cost to install solar panels in Loch Lomond?
The average cost of solar panels in Loch Lomond 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Loch Lomond?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $880.74 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.