Solar Panel Cost Guide in University Center, VA (2024 Update)
- University Center Solar Installation Cost: $20,419
- 25-Year Savings: $20,562
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in University Center
We break down average solar pricing in University Center.
The average cost of a solar panel system in University Center is 4 per watt.To cover the typical energy usage of the average home in University Center, most homeowners require a 8.1-kilowatt system. Using the figure above, a solar installation costs about $20,419, or $29,199 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of solar panels you choose, your solar contractor and more.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $17,000 over 20 years on power bills.
To receive a free quote from a vetted solar installation company in University Center, you can click the button below.
Solar savings over time in University Center
| Year | Return on Investment |
|---|---|
| 1 years | $-18,820 |
| 3 years | $-15,622 |
| 5 years | $-12,424 |
| 7 years | $-9,226 |
| 9 years | $-6,029 |
| 11 years | $-2,831 |
| 13 years | $367 |
| 15 years | $3,565 |
| 17 years | $6,763 |
| 19 years | $9,961 |
| 21 years | $13,159 |
| 23 years | $16,357 |
| 25 years | $19,554 |
Top Solar Installers in University Center
Installing solar panels by yourself can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be valuable as well, especially if you don’t quite know what type of solar equipment you need.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 University Center
Factors that Affect Solar Panel Costs in University Center
The cost of installing a solar system in University Center can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in University Center, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past power bills. Your total cost can increase by about $3,590 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like University Center, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
If paying for a solar system out of pocket is too expensive, solar loans are an affordable route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can affect your pricing. University Center’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 keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $11,052 | 14.7 years |
| 8 kW | $3.66 | $20,506 | $15,139 | 14.4 years |
| 10 kW | $3.59 | $25,130 | $19,426 | 14.1 years |
| 12 kW | $3.52 | $29,553 | $23,914 | 13.8 years |
| 14 kW | $3.45 | $33,775 | $28,604 | 13.5 years |
| 16 kW | $3.37 | $37,796 | $33,494 | 13.3 years |
| 18 kW | $3.30 | $41,615 | $38,585 | 13.0 years |
| 20 kW | $3.23 | $45,234 | $43,878 | 12.7 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's University Center, VA Solar Cost FAQs
What is the average cost of installing solar panels in University Center?
The average cost of solar panels in University Center is about $17,950 for a 5-kW system and $35,900 for a 10-kW system before the ITC, but the real cost will depend on things like the kind 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 University Center?
Leasing solar panels can be an appealing choice, as it often 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 maximize your savings.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in University Center is currently $687,038, so you can look forward to a value of about $28,169 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in University Center is a rewarding investment.
How long do solar panels last in University Center?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of 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 after having 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.