Solar Panel Cost Guide in Vinton, VA (2023 Update)
- Vinton Solar Installation Cost: $15,034
- 25-Year Savings: $20,906
- Payback Period: 10.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Vinton
Let's have a look at the average cost of solar in Vinton.
The average cost of a solar panel system in Vinton is 2.75 per watt. Since a 7.8-kW system is needed to cover the energy usage of a typical home in Vinton, the average price of going solar will be about $15,034 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and how much solar costs for you may look different based on your specific situation and what company you want to go with. With average savings of about $17,000 on energy bills over 20 years, many homeowners in Vinton find going solar can pay off big.
To get a free estimate from a highly rated solar installation company in Vinton, you can click the button below.
Solar savings over time in Vinton
| Year | Return on Investment |
|---|---|
| 1 years | $-13,597 |
| 3 years | $-10,721 |
| 5 years | $-7,846 |
| 7 years | $-4,971 |
| 9 years | $-2,096 |
| 11 years | $779 |
| 13 years | $3,655 |
| 15 years | $6,530 |
| 17 years | $9,405 |
| 19 years | $12,280 |
| 21 years | $15,155 |
| 23 years | $18,031 |
| 25 years | $20,906 |
Top Solar Installers in Vinton
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with a solar panel installer can make switching to solar power much easier. The expertise that solar companies offer can be invaluable as well, especially if you aren't sure what type of solar equipment would be right for your home.
If you're searching for a solar installer in Vinton, the EcoWatch team has put together a list of our top suggestions here:
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 Vinton
Factors that Affect Solar Panel Costs in Vinton
Although the average cost of a solar system in Vinton is $15,034, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,750. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Vinton average.
Solar Financing Terms
Many homeowners find the average cost of solar in Vinton to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in paying more over time because of interest. You'll have to consider the long-term cost of loans, 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
A final factor to consider when trying to figure out the cost of solar for your home or business in Vinton is the company you get to install your solar system. As with choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services for different budgets. The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount 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 | $15,612 | 10.9 years |
| 8 kW | $2.81 | $15,708 | $21,125 | 10.7 years |
| 10 kW | $2.75 | $19,250 | $26,791 | 10.5 years |
| 12 kW | $2.69 | $22,638 | $32,611 | 10.2 years |
| 14 kW | $2.64 | $25,872 | $38,585 | 10.0 years |
| 16 kW | $2.58 | $28,952 | $44,713 | 9.8 years |
| 18 kW | $2.53 | $31,878 | $50,995 | 9.6 years |
| 20 kW | $2.48 | $34,650 | $57,432 | 9.4 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 select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which brand 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 peruse their list of options before making your decision.
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Vinton, VA Solar Cost FAQs
What is the average cost of installing solar panels in Vinton?
The average cost of solar panels in Vinton 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Vinton?
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 property 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 solar panels eliminate my energy bills?
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 $920.82 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production 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.