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 national average cost of solar panels is $2.66 per watt, but in Portsmouth it’s 4 per watt.Because a 7.3-kW system is needed to cover the energy costs of a typical home in Portsmouth, the average price of going solar will be about $18,372 after claiming the federal solar tax credit of 0.
These figures are only estimates, and the cost of going solar for you may differ based on factors unique to your home and what company you go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $19,000 over 20 years on electricity bills.
You can click the button below to get connected with a vetted solar installer in Portsmouth for a quote for your home.
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 by yourself, it involves extra effort and know-how. That's one of the reasons most homeowners choose a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you’d like to switch to solar energy but still aren’t certain which solar panel company to go with, here are our recommendations for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Portsmouth
Factors that Affect Solar Panel Costs in Portsmouth
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Portsmouth: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Portsmouth homeowners opt to finance their solar panel systems to make going solar more affordable.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Portsmouth, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $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
Since the type of solar panels and the installation company you choose significantly influences 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:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- 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 significant role in the company you hire.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Portsmouth, VA Solar Cost FAQs
How much does it cost to install solar panels in Portsmouth?
The average cost of solar panels in Portsmouth is about $17,950 for a 5-kW system and $35,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Portsmouth?
Solar panels aren’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 you can take advantage of.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $990.42 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a 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 cover 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.