Solar Panel Cost Guide in Woodlake, VA (2023 Update)
- Woodlake Solar Installation Cost: $14,911
- 25-Year Savings: $23,350
- Payback Period: 9.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Woodlake
Let's take a look at the average cost of solar panels in Woodlake.
While the national average of solar panels is $2.66 per watt, solar panels in Woodlake typically cost about 2.75. The average solar panel system size in Woodlake is around 7.8 kilowatts, meaning a cost of about $14,919 for a solar installation, or $21,334 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with. For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar company in Woodlake for a quote for your home.
Solar savings over time in Woodlake
| Year | Return on Investment |
|---|---|
| 1 years | $-13,312 |
| 3 years | $-10,114 |
| 5 years | $-6,916 |
| 7 years | $-3,718 |
| 9 years | $-521 |
| 11 years | $2,677 |
| 13 years | $5,875 |
| 15 years | $9,073 |
| 17 years | $12,271 |
| 19 years | $15,469 |
| 21 years | $18,667 |
| 23 years | $21,865 |
| 25 years | $25,062 |
Top Solar Installers in Woodlake
When going solar, many homeowners prefer to use a solar installation company since handling can be a time-consuming project. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can get a free quote from a local solar installer on how much solar panels 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 Woodlake
Factors that Affect Solar Panel Costs in Woodlake
The cost of installing a solar system in Woodlake can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. 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, higher efficiency could save you more in the long run on your energy bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Woodlake average.
Solar Financing Terms
Many homeowners find the average cost of solar in Woodlake to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you select will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Larger national companies usually 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 car 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 | $2.86 | $12,012 | $17,624 | 10.1 years |
| 8 kW | $2.81 | $15,708 | $23,807 | 9.9 years |
| 10 kW | $2.75 | $19,250 | $30,144 | 9.7 years |
| 12 kW | $2.69 | $22,638 | $36,635 | 9.5 years |
| 14 kW | $2.64 | $25,872 | $43,280 | 9.4 years |
| 16 kW | $2.58 | $28,952 | $50,078 | 9.2 years |
| 18 kW | $2.53 | $31,878 | $57,031 | 9.0 years |
| 20 kW | $2.48 | $34,650 | $64,138 | 8.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: The kind of solar panel you want to install plays a role in which installer you should opt for, since different companies have access to different panels.
- Warranty: If you're worried about the durability of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Reputation: Solar companies 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.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Woodlake, VA Solar Cost FAQs
What is the average cost of installing solar panels in Woodlake?
The average cost of solar panels in Woodlake 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Woodlake have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.