Solar Panel Cost Guide in Newington Forest, VA (2024 Update)
- Newington Forest Solar Installation Cost: $20,263
- 25-Year Savings: $20,682
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Newington Forest
Find out what the average cost of solar panel installation is in Newington Forest.
The average cost of solar panels in Newington Forest is 4 per watt.The average Newington Forest homeowner needs a 8.1-kilowatt system, which would cost about $20,263 with the federal tax credit, or $28,976 before the 0 tax credit is applied.
These figures are just averages, and how much solar costs for you will look different based on your energy needs and what company you want to go with.Even with the large initial cost, the average Newington Forest homeowner can save about $17,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a vetted solar installer in your area for a customized quote.
Solar savings over time in Newington Forest
| Year | Return on Investment |
|---|---|
| 1 years | $-18,664 |
| 3 years | $-15,466 |
| 5 years | $-12,268 |
| 7 years | $-9,070 |
| 9 years | $-5,872 |
| 11 years | $-2,674 |
| 13 years | $524 |
| 15 years | $3,722 |
| 17 years | $6,919 |
| 19 years | $10,117 |
| 21 years | $13,315 |
| 23 years | $16,513 |
| 25 years | $19,711 |
Top Solar Installers in Newington Forest
Although you can install solar panels by yourself, it requires extra effort and know-how. That's one of the reasons most homeowners choose to go with a solar panel installer. The payback period of solar panels will vary based on factors like your roof configuration and energy use, but working with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Newington Forest:
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 Newington Forest
Factors that Affect Solar Panel Costs in Newington Forest
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Newington Forest: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,590. The brand of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Newington Forest to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Newington Forest, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.73 | $15,681 | $11,259 | 14.6 years |
| 8 kW | $3.66 | $20,506 | $15,414 | 14.3 years |
| 10 kW | $3.59 | $25,130 | $19,770 | 14.0 years |
| 12 kW | $3.52 | $29,553 | $24,327 | 13.7 years |
| 14 kW | $3.45 | $33,775 | $29,085 | 13.4 years |
| 16 kW | $3.37 | $37,796 | $34,045 | 13.2 years |
| 18 kW | $3.30 | $41,615 | $39,205 | 12.9 years |
| 20 kW | $3.23 | $45,234 | $44,566 | 12.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose significantly impacts your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will have various brands and types of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: If you care about the longevity of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Newington Forest, VA Solar Cost FAQs
How much does it cost to install solar panels in Newington Forest?
The average cost of solar panels in Newington Forest is about $17,950 for a 5-kW system and $35,900 for a 10-kW system before the ITC, but the real cost will depend on things like the model 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 Newington Forest?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Newington Forest?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
How long do solar panels last in Newington Forest?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.