Solar Panel Cost Guide in Portsmouth, VA (2024 Update)
- Portsmouth Solar Installation Cost: $18,372
- 25-Year Savings: $22,131
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Portsmouth
Let’s have a look at the average cost of solar in Portsmouth.
The average cost of a solar panel system in Portsmouth is 4 per watt.Using this figure, a typical 7.3-kW system would cost about $18,372 before the 0 federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar 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 Portsmouth homeowner can save around $19,000 on their electricity bills over 20 years, which is one of the positives of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Portsmouth
| Year | Return on Investment |
|---|---|
| 1 years | $-16,773 |
| 3 years | $-13,575 |
| 5 years | $-10,377 |
| 7 years | $-7,179 |
| 9 years | $-3,981 |
| 11 years | $-783 |
| 13 years | $2,414 |
| 15 years | $5,612 |
| 17 years | $8,810 |
| 19 years | $12,008 |
| 21 years | $15,206 |
| 23 years | $18,404 |
| 25 years | $21,602 |
Top Solar Installers in Portsmouth
Although it's possible to install solar panels on your own, it takes extra effort and expertise. For that reason, most people choose to hire a solar panel installer. A solar company can also help save you money over time by providing warranties, repairs and part replacements.
If you’d like to make the switch to solar but still aren’t sure which solar panel installer to go with, here are our suggestions for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Portsmouth
Factors that Affect Solar Panel Costs in Portsmouth
There are several factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 in the long run on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Portsmouth average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Portsmouth, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.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 principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Portsmouth is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services at different price points.The company’s size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower 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 | $14,032 | 13.2 years |
| 8 kW | $3.66 | $20,506 | $19,111 | 12.9 years |
| 10 kW | $3.59 | $25,130 | $24,391 | 12.7 years |
| 12 kW | $3.52 | $29,553 | $29,873 | 12.4 years |
| 14 kW | $3.45 | $33,775 | $35,555 | 12.2 years |
| 16 kW | $3.37 | $37,796 | $41,438 | 11.9 years |
| 18 kW | $3.30 | $41,615 | $47,523 | 11.7 years |
| 20 kW | $3.23 | $45,234 | $53,808 | 11.4 years |
How to Save on Solar Panels
The solar company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar company. See to it that you understand how the installation process works and the project completion timeline.
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: If you’re worried about the longevity of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: The brand of solar panel you need to get plays a role in which installer you should choose, since different companies provide different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Portsmouth, VA Solar Cost FAQs
How much does it cost to install solar panels in Portsmouth?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $17,950 for a 5-kW system and $35,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Portsmouth?
A solar panel system isn’t free in Portsmouth, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels completely eradicate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Portsmouth, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact 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?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.