Solar Panel Cost Guide in Petersburg, VA (Mar 2023)
- Petersburg Solar Installation Cost: $14,880
- 25-Year Savings: $22,610
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Petersburg
Find out what the average cost of solar panel installation is in Petersburg.
The national average cost of solar panels is $2.66 per watt, but in Petersburg it's 2.75 per watt. To account for the typical energy needs of the average home in Petersburg, most homeowners require a 7.7-kilowatt system. Using the figure above, a solar installation costs about $14,880, or $21,278 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Petersburg homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Despite the large initial cost, the average Petersburg homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Petersburg
| Year | Return on Investment |
|---|---|
| 1 years | $-13,381 |
| 3 years | $-10,381 |
| 5 years | $-7,382 |
| 7 years | $-4,383 |
| 9 years | $-1,384 |
| 11 years | $1,616 |
| 13 years | $4,615 |
| 15 years | $7,614 |
| 17 years | $10,613 |
| 19 years | $13,613 |
| 21 years | $16,612 |
| 23 years | $19,611 |
| 25 years | $22,610 |
Top Solar Installers in Petersburg
Many homeowners opt for a solar installer since trying to put up solar panels yourself can be challenging. A solar installer can also help save you money over time by providing warranties, repairs and system component replacements.
If you'd like to make the switch to solar but still aren't sure which solar panel company 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 (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 Petersburg
Factors that Affect Solar Panel Costs in Petersburg
While the average cost of a solar system in Petersburg is $14,880, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar energy system you need for your home, 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 $2,750. The kind of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about 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 for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Petersburg to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing 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 lower to compete with bigger companies.
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 | $17,099 | 10.3 years |
| 8 kW | $2.81 | $15,708 | $23,106 | 10.1 years |
| 10 kW | $2.75 | $19,250 | $29,268 | 9.9 years |
| 12 kW | $2.69 | $22,638 | $35,583 | 9.7 years |
| 14 kW | $2.64 | $25,872 | $42,053 | 9.5 years |
| 16 kW | $2.58 | $28,952 | $48,676 | 9.3 years |
| 18 kW | $2.53 | $31,878 | $55,454 | 9.1 years |
| 20 kW | $2.48 | $34,650 | $62,385 | 8.9 years |
How to Save on Solar Panels
The solar company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Not all solar installers 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 choose.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
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 Petersburg, VA Solar Cost FAQs
How much does it cost to install solar panels in Petersburg?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally 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 other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost 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 will 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 Petersburg is currently $145,299, which means you can look forward to a value of about $5,957 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Petersburg is a worthwhile 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 their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.