Solar Panel Cost Guide in Madison Heights, VA (2023 Update)
- Madison Heights Solar Installation Cost: $14,899
- 25-Year Savings: $22,663
- Payback Period: 9.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Madison Heights
Find out what the average cost of installing solar panels is in Madison Heights.
In Madison Heights, solar panels cost about 2.75 per watt on average. The average Madison Heights homeowner needs a 7.7-kilowatt system, which would cost about $14,899 with the federal tax credit, or $21,306 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary depending on a few factors, such as what size system you need, your energy usage and what installation company you go with. Despite the significant initial cost, the average Madison Heights homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a pre-vetted solar company in Madison Heights for a quote for your home.
Solar savings over time in Madison Heights
| Year | Return on Investment |
|---|---|
| 1 years | $-13,397 |
| 3 years | $-10,392 |
| 5 years | $-7,387 |
| 7 years | $-4,382 |
| 9 years | $-1,377 |
| 11 years | $1,628 |
| 13 years | $4,633 |
| 15 years | $7,638 |
| 17 years | $10,643 |
| 19 years | $13,648 |
| 21 years | $16,653 |
| 23 years | $19,658 |
| 25 years | $22,663 |
Top Solar Installers in Madison Heights
Although it's possible to install solar panels on your own, it involves extra time and handiness. That's why the majority of homeowners choose to go with a solar panel installer. Companies can also have access to quality options of the best solar panels and help you choose which one will be best for you.
If you'd like to go solar but still aren't sure which solar panel installer to go with, here are our suggestions for providers nearby:
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 Madison Heights
Factors that Affect Solar Panel Costs in Madison Heights
The cost of installing a solar system in Madison Heights can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar equipment you choose can bring your price up or down 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. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Madison Heights average.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of financing options, including the total 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 original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can influence how much you pay. Madison Heights' solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Madison Heights are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $17,118 | 10.3 years |
| 8 kW | $2.81 | $15,708 | $23,132 | 10.1 years |
| 10 kW | $2.75 | $19,250 | $29,300 | 9.9 years |
| 12 kW | $2.69 | $22,638 | $35,622 | 9.7 years |
| 14 kW | $2.64 | $25,872 | $42,098 | 9.5 years |
| 16 kW | $2.58 | $28,952 | $48,728 | 9.3 years |
| 18 kW | $2.53 | $31,878 | $55,512 | 9.1 years |
| 20 kW | $2.48 | $34,650 | $62,450 | 8.9 years |
How to Save on Solar Panels
There are many companies to choose from in Madison Heights, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Make sure you're on the same page 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.
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
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 Madison Heights, VA Solar Cost FAQs
What is the average cost of installing solar panels in Madison Heights?
This is a tough question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Madison Heights, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.