Solar Panel Cost Guide in New Baltimore, VA (Mar 2023)
- New Baltimore Solar Installation Cost: $15,438
- 25-Year Savings: $21,362
- Payback Period: 10.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in New Baltimore
See how much it might cost to switch to solar power in New Baltimore.
In New Baltimore, solar panels cost about 2.75 per watt on average. To account for the typical energy usage of the average home in New Baltimore, most homeowners require a 8.0-kilowatt system. Using the per-watt figure above, a solar installation costs about $15,438, or $22,076 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of going solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average New Baltimore homeowners see about $17,000 in savings on utility bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in New Baltimore
| Year | Return on Investment |
|---|---|
| 1 years | $-13,966 |
| 3 years | $-11,022 |
| 5 years | $-8,078 |
| 7 years | $-5,134 |
| 9 years | $-2,190 |
| 11 years | $754 |
| 13 years | $3,698 |
| 15 years | $6,642 |
| 17 years | $9,586 |
| 19 years | $12,530 |
| 21 years | $15,474 |
| 23 years | $18,418 |
| 25 years | $21,362 |
Top Solar Installers in New Baltimore
Many homeowners decide to use a solar installation company since trying to install solar panels on your own can be challenging. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.
Working with a professional solar company 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 New Baltimore
Factors that Affect Solar Panel Costs in New Baltimore
The cost of installing a solar system in New Baltimore 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 your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in New Baltimore, 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 figure out by looking at past electricity bills. Your overall cost can increase by about $2,750 for each additional kilowatt you need. There are several different solar panel brands and the one you pick also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Plus, 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
Most solar companies in New Baltimore have solar loans, which reduce the initial cost of installing a solar system. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in New Baltimore, and each can charge varying amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $15,514 | 10.9 years |
| 8 kW | $2.81 | $15,708 | $20,994 | 10.7 years |
| 10 kW | $2.75 | $19,250 | $26,627 | 10.5 years |
| 12 kW | $2.69 | $22,638 | $32,415 | 10.3 years |
| 14 kW | $2.64 | $25,872 | $38,356 | 10.1 years |
| 16 kW | $2.58 | $28,952 | $44,452 | 9.9 years |
| 18 kW | $2.53 | $31,878 | $50,701 | 9.7 years |
| 20 kW | $2.48 | $34,650 | $57,105 | 9.4 years |
How to Save on Solar Panels
There are numerous companies available in New Baltimore, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Warranty: If you care about the longevity of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 New Baltimore, VA Solar Cost FAQs
What is the average cost of installing solar panels in New Baltimore?
This is a hard question to answer exactly, because the cost depends on a few different 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will installing solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in New Baltimore is currently $452,318, so you can look forward to a value of about $18,545 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in New Baltimore is a fruitful investment.
How often do you have to replace solar panels?
Though 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 the amount of 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.