Solar Panel Cost Guide in Triangle, VA (2023 Update)
- Triangle Solar Installation Cost: $15,354
- 25-Year Savings: $21,447
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Triangle
Find out what the average cost of installing solar panels is in Triangle.
In Triangle, solar panels cost about 2.75 per watt on average. The average Triangle homeowner needs a 8.0-kilowatt system, which would cost about $15,361 with the federal tax credit, or $21,966 before the 30% tax credit is applied.
These figures are only estimates, and the cost of going solar for you will most likely look different based on the amount of energy your home requires and what company you want to go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $18,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar installer in Triangle for a quote for your home.
Solar savings over time in Triangle
| Year | Return on Investment |
|---|---|
| 1 years | $-13,755 |
| 3 years | $-10,557 |
| 5 years | $-7,359 |
| 7 years | $-4,161 |
| 9 years | $-963 |
| 11 years | $2,235 |
| 13 years | $5,432 |
| 15 years | $8,630 |
| 17 years | $11,828 |
| 19 years | $15,026 |
| 21 years | $18,224 |
| 23 years | $21,422 |
| 25 years | $24,620 |
Top Solar Installers in Triangle
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make switching to solar power much easier. Companies can also provide access to quality options of the best solar panels and help you pick which one will be best for your family.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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 Triangle
Factors that Affect Solar Panel Costs in Triangle
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Triangle: 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 going solar. That's why 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 kind of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Triangle, and each can charge varying amounts for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that provides the products, warranties and services you're looking for and also is within your budget.
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 | $15,671 | 10.8 years |
| 8 kW | $2.81 | $15,708 | $21,203 | 10.6 years |
| 10 kW | $2.75 | $19,250 | $26,889 | 10.4 years |
| 12 kW | $2.69 | $22,638 | $32,728 | 10.2 years |
| 14 kW | $2.64 | $25,872 | $38,722 | 10.0 years |
| 16 kW | $2.58 | $28,952 | $44,870 | 9.8 years |
| 18 kW | $2.53 | $31,878 | $51,172 | 9.6 years |
| 20 kW | $2.48 | $34,650 | $57,627 | 9.4 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Triangle, VA Solar Cost FAQs
What is the average cost of installing solar panels in Triangle?
The average cost of solar panels in Triangle 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Triangle?
Leasing solar panels can be an attractive choice, because 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase your home value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
On average, solar panels can last 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 higher 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.