Solar Panel Cost Guide in Martinsville, VA (Mar 2023)
- Martinsville Solar Installation Cost: $14,765
- 25-Year Savings: $22,190
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Martinsville
Find out what the average cost of solar panel installation is in Martinsville.
While the national average of solar panels is $2.66 per watt, solar panels in Martinsville generally cost about 2.75. Because a 7.7-kW system is needed to cover the energy costs of a typical home in Martinsville, the average price of going solar will be about $14,765 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more. With average savings of about $18,000 on energy bills over 20 years, many homeowners in Martinsville find going solar can pay off big.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Martinsville
| Year | Return on Investment |
|---|---|
| 1 years | $-13,287 |
| 3 years | $-10,330 |
| 5 years | $-7,374 |
| 7 years | $-4,418 |
| 9 years | $-1,461 |
| 11 years | $1,495 |
| 13 years | $4,451 |
| 15 years | $7,408 |
| 17 years | $10,364 |
| 19 years | $13,320 |
| 21 years | $16,277 |
| 23 years | $19,233 |
| 25 years | $22,190 |
Top Solar Installers in Martinsville
Trying to put up solar panels yourself can be a dangerous undertaking, which is why getting a solar installer is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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 Martinsville
Factors that Affect Solar Panel Costs in Martinsville
The cost of installing a solar system in Martinsville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer 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. Because of that, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. There are several different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Martinsville have solar loans, which reduce your upfront costs of installing a solar system. However, the interest on solar loans also adds to your overall costs, so it's crucial 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 making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Martinsville, and each can charge varying amounts for labor and equipment. Some companies 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 cost more. It's best to do some research and go with the company that provides the products, warranties and services you're looking for 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 | $16,888 | 10.4 years |
| 8 kW | $2.81 | $15,708 | $22,825 | 10.2 years |
| 10 kW | $2.75 | $19,250 | $28,916 | 10.0 years |
| 12 kW | $2.69 | $22,638 | $35,162 | 9.8 years |
| 14 kW | $2.64 | $25,872 | $41,561 | 9.6 years |
| 16 kW | $2.58 | $28,952 | $48,114 | 9.4 years |
| 18 kW | $2.53 | $31,878 | $54,822 | 9.2 years |
| 20 kW | $2.48 | $34,650 | $61,683 | 9.0 years |
How to Save on Solar Panels
There are numerous companies available in Martinsville, 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:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
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 Martinsville, VA Solar Cost FAQs
What is the average cost of installing solar panels in Martinsville?
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 higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Martinsville, that will require at least a 10-kW system. Not all homes 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 get between 20 and 35 panels to account for 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.