Solar Panel Cost Guide in Richlands, VA (2023 Update)
- Richlands Solar Installation Cost: $15,900
- 25-Year Savings: $20,040
- Payback Period: 11.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Richlands
Find out what the average cost of installing solar panels is in Richlands.
In Richlands, solar panels cost about 2.75 per watt on average. Using this figure, a typical 8.3-kW system would cost about $15,900 before the 30% federal solar tax credit is applied.
The actual price you pay can be above or below the average in Richlands based on several factors, such as the kind of solar panels you choose and the solar installer you hire. But, once you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
To receive a free quote from a top solar company in Richlands, you can click the button below.
Solar savings over time in Richlands
| Year | Return on Investment |
|---|---|
| 1 years | $-14,463 |
| 3 years | $-11,588 |
| 5 years | $-8,712 |
| 7 years | $-5,837 |
| 9 years | $-2,962 |
| 11 years | $-87 |
| 13 years | $2,788 |
| 15 years | $5,664 |
| 17 years | $8,539 |
| 19 years | $11,414 |
| 21 years | $14,289 |
| 23 years | $17,164 |
| 25 years | $20,040 |
Top Solar Installers in Richlands
Many homeowners opt for a solar installer since trying to install solar panels yourself can be time-consuming. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be right for you.
If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Richlands
Factors that Affect Solar Panel Costs in Richlands
While the average cost of a solar system in Richlands is $15,900, your final cost may be above or below the average. There are quite a few 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 take into consideration.
Solar Equipment
When it comes to estimating the price of solar panels in Richlands, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $2,750 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Richlands average.
Solar Financing Terms
Many homeowners find the average cost of solar in Richlands to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. Even though solar loans make adopting solar energy more accessible for Richlands homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you pick will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $14,094 | 11.5 years |
| 8 kW | $2.81 | $15,708 | $19,099 | 11.3 years |
| 10 kW | $2.75 | $19,250 | $24,259 | 11.1 years |
| 12 kW | $2.69 | $22,638 | $29,573 | 10.8 years |
| 14 kW | $2.64 | $25,872 | $35,041 | 10.6 years |
| 16 kW | $2.58 | $28,952 | $40,663 | 10.4 years |
| 18 kW | $2.53 | $31,878 | $46,439 | 10.2 years |
| 20 kW | $2.48 | $34,650 | $52,368 | 10.0 years |
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining not only your overall 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:
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Richlands, VA Solar Cost FAQs
How much does it cost to install solar panels in Richlands?
The average cost of solar panels in Richlands is about $13,750 for a 5-kW system and $27,500 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 consume.
Are solar panels free in Richlands?
Solar panels aren't free in Richlands, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Richlands have a net metering program?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future electricity 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 Richlands?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.