Solar Panel Cost Guide in University Of Virginia, VA (2023 Update)
- University Of Virginia Solar Installation Cost: $15,073
- 25-Year Savings: $21,810
- Payback Period: 10.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in University Of Virginia
Find out how much it might cost to switch to solar power in University Of Virginia.
The average cost of a solar system in University Of Virginia is 2.75 per watt. Since a 7.8-kW system is needed to cover the energy consumption of a typical home in University Of Virginia, the average price of going solar will be about $15,073 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of University Of Virginia homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find adopting solar power is a solid investment. The average homeowner in University Of Virginia can save around $18,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar installer in University Of Virginia for a personalized quote.
Solar savings over time in University Of Virginia
| Year | Return on Investment |
|---|---|
| 1 years | $-13,597 |
| 3 years | $-10,647 |
| 5 years | $-7,696 |
| 7 years | $-4,745 |
| 9 years | $-1,795 |
| 11 years | $1,156 |
| 13 years | $4,107 |
| 15 years | $7,057 |
| 17 years | $10,008 |
| 19 years | $12,959 |
| 21 years | $15,909 |
| 23 years | $18,860 |
| 25 years | $21,810 |
Top Solar Installers in University Of Virginia
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 your swap to solar power much easier. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 University Of Virginia
Factors that Affect Solar Panel Costs in University Of Virginia
Even though the average cost of a solar system in University Of Virginia is $15,073, your final cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,750 per kilowatt in University Of Virginia. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like University Of Virginia, 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 solar panels out of pocket is difficult, solar loans are a popular choice because they decrease your upfront costs and let you pay for your system over five to seven years on average. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in University Of Virginia is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services for different budgets. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $16,256 | 10.6 years |
| 8 kW | $2.81 | $15,708 | $21,983 | 10.4 years |
| 10 kW | $2.75 | $19,250 | $27,864 | 10.2 years |
| 12 kW | $2.69 | $22,638 | $33,898 | 10.0 years |
| 14 kW | $2.64 | $25,872 | $40,087 | 9.8 years |
| 16 kW | $2.58 | $28,952 | $46,430 | 9.6 years |
| 18 kW | $2.53 | $31,878 | $52,926 | 9.4 years |
| 20 kW | $2.48 | $34,650 | $59,577 | 9.2 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated 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 positive reviews from past customers.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
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 University Of Virginia, VA Solar Cost FAQs
How much does it cost to install solar panels in University Of Virginia?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,750 for a 5-kW system and $27,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in University Of Virginia is currently $342,118, which means you could be looking at a value of about $14,027 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in University Of Virginia is a fruitful investment.
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 larger level 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.