Solar Panel Cost Guide in Timberlake, VA (2023 Update)
- Timberlake Solar Installation Cost: $14,784
- 25-Year Savings: $22,444
- Payback Period: 9.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Timberlake
We go over average solar pricing in Timberlake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Timberlake, the average cost of a solar system is 2.75 per watt. The average Timberlake homeowner needs a 7.7-kilowatt system, which would cost about $14,784 with the federal tax credit, or $21,141 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Timberlake homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Timberlake see about $18,000 in savings on electricity bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Timberlake
| Year | Return on Investment |
|---|---|
| 1 years | $-13,295 |
| 3 years | $-10,317 |
| 5 years | $-7,338 |
| 7 years | $-4,360 |
| 9 years | $-1,382 |
| 11 years | $1,597 |
| 13 years | $4,575 |
| 15 years | $7,553 |
| 17 years | $10,531 |
| 19 years | $13,510 |
| 21 years | $16,488 |
| 23 years | $19,466 |
| 25 years | $22,444 |
Top Solar Installers in Timberlake
Many homeowners choose to use a solar installation company since installing solar panels yourself can be hard. The expertise that solar companies offer can be invaluable as well, especially if you don't quite know what type of solar equipment would be right for your home.
If you'd like to go solar but still aren't sure which solar installer to go with, here are our suggestions for providers nearby:
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 Timberlake
Factors that Affect Solar Panel Costs in Timberlake
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Timberlake: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,750. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Timberlake, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Timberlake, which can reduce, or in some cases 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. You may notice 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 specials 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 | $17,077 | 10.3 years |
| 8 kW | $2.81 | $15,708 | $23,077 | 10.1 years |
| 10 kW | $2.75 | $19,250 | $29,231 | 9.9 years |
| 12 kW | $2.69 | $22,638 | $35,539 | 9.7 years |
| 14 kW | $2.64 | $25,872 | $42,001 | 9.5 years |
| 16 kW | $2.58 | $28,952 | $48,618 | 9.3 years |
| 18 kW | $2.53 | $31,878 | $55,388 | 9.1 years |
| 20 kW | $2.48 | $34,650 | $62,312 | 8.9 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose greatly influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
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 Timberlake, VA Solar Cost FAQs
What is the average cost of installing solar panels in Timberlake?
The average cost of solar panels in Timberlake is about $13,750 for a 5-kW system and $27,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Timberlake?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How much can I save on electricity bills after installing solar panels?
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 $969.62 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.