Solar Panel Cost Guide in Salem, VA (2024 Update)
- Salem Solar Installation Cost: $19,518
- 25-Year Savings: $17,235
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Salem
We go over average solar pricing in Salem.
In Salem, solar panels cost about 4 per watt on average.The average solar panel system size in Salem is around 7.8 kilowatts, meaning a cost of about $19,518 for a solar installation, or $27,911 before the 0 federal solar tax credit is applied.
These figures are only averages, and your own solar costs will vary based on your specific situation and what company you want to go with.Even with the high upfront cost, the average Salem homeowner can save around $17,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a reputable solar panel company in Salem for a customized quote.
Solar savings over time in Salem
| Year | Return on Investment |
|---|---|
| 1 years | $-18,027 |
| 3 years | $-15,045 |
| 5 years | $-12,063 |
| 7 years | $-9,081 |
| 9 years | $-6,099 |
| 11 years | $-3,118 |
| 13 years | $-136 |
| 15 years | $2,846 |
| 17 years | $5,828 |
| 19 years | $8,810 |
| 21 years | $11,791 |
| 23 years | $14,773 |
| 25 years | $17,755 |
Top Solar Installers in Salem
When making the switch to solar, many homeowners choose to hire a solar installation company since handling can be a time-consuming project. Solar warranties and repairs are ordinarily included in the cost of installation when you hire a solar company too, which can save you more money over time.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Salem
Factors that Affect Solar Panel Costs in Salem
Although the average cost of a solar system in Salem is $19,518, your actual cost may differ. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than 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 searching for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Salem provide solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also adds to your total costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can impact the cost. Salem’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $9,183 | 15.8 years |
| 8 kW | $3.66 | $20,506 | $12,646 | 15.5 years |
| 10 kW | $3.59 | $25,130 | $16,311 | 15.2 years |
| 12 kW | $3.52 | $29,553 | $20,176 | 14.9 years |
| 14 kW | $3.45 | $33,775 | $24,242 | 14.6 years |
| 16 kW | $3.37 | $37,796 | $28,510 | 14.3 years |
| 18 kW | $3.30 | $41,615 | $32,978 | 13.9 years |
| 20 kW | $3.23 | $45,234 | $37,647 | 13.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: When making the switch to solar power, it’s necessary to maintain an open line of communication with your solar company. Confirm that you understand how the installation process works and the completion timeline.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
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 Salem, VA Solar Cost FAQs
What is the average cost of installing solar panels in Salem?
This is a hard question to answer precisely, because the cost depends on a variety of 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Salem?
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 don’t have access to 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 Salem?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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.