Solar Panel Cost Guide in Radford, VA (2025 Update)
- Radford Solar Installation Cost: $19,905
- 25-Year Savings: $15,587
- Payback Period: 29.3 Years
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Average Cost of Solar Panels in Radford
We break down average solar pricing in Radford.
The national average cost of solar panels is $2.66 per watt, but in Radford it’s 4 per watt.Because a 7.9-kW system is needed to cover the energy needs of a typical home in Radford, the average price of going solar will be about $19,905 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with.Despite the high upfront cost, the average Radford homeowner can save about $8,600 on their energy bills over 20 years, which is one of the perks of solar.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Radford
Year | Return on Investment |
---|---|
1 years | $-18,486 |
3 years | $-15,646 |
5 years | $-12,807 |
7 years | $-9,967 |
9 years | $-7,128 |
11 years | $-4,289 |
13 years | $-1,449 |
15 years | $1,390 |
17 years | $4,230 |
19 years | $7,069 |
21 years | $9,908 |
23 years | $12,748 |
25 years | $15,587 |
Top Solar Installers in Radford
Although you can install solar panels yourself, it takes extra effort and expertise. That's why the majority of homeowners choose to go with a solar panel installer. Companies can also offer access to quality options of the best solar panels and help you pick which one will be best for your home.
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 in Radford:
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 Radford
Factors that Affect Solar Panel Costs in Radford
While the average cost of a solar system in Radford is $19,905, your final cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.There are many different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Radford to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.However, the interest on solar loans also adds to your total costs, so it’s crucial to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies operating in Radford, and each can charge varying amounts for labor and equipment.The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk 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 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 | $-2,814 | 30.5 years |
8 kW | $3.66 | $20,506 | $-3,350 | 29.9 years |
10 kW | $3.59 | $25,130 | $-3,685 | 29.3 years |
12 kW | $3.52 | $29,553 | $-3,819 | 28.7 years |
14 kW | $3.45 | $33,775 | $-3,752 | 28.1 years |
16 kW | $3.37 | $37,796 | $-3,484 | 27.5 years |
18 kW | $3.30 | $41,615 | $-3,015 | 27.0 years |
20 kW | $3.23 | $45,234 | $-2,345 | 26.4 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Contract: Before you sign a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Radford, VA Solar Cost FAQs
How much does it cost to install solar panels in Radford?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally 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 cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Radford?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can you sell solar power back to the grid in Radford?
The majority of states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Radford?
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 larger amount 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.