Solar Panel Cost Guide in Woodlake, VA (2024 Update)
- Woodlake Solar Installation Cost: $19,466
- 25-Year Savings: $23,350
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Woodlake
We go over average solar pricing in Woodlake.
In Woodlake, solar panels cost about 4 per watt on average.Using this figure, a typical 7.7-kW system would cost about $19,466 before the 0 federal solar tax credit is applied.
The actual price you pay can be above or below the average in Woodlake depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire.But, after you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $19,000 over 20 years on utility bills.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Woodlake
| Year | Return on Investment |
|---|---|
| 1 years | $-17,867 |
| 3 years | $-14,669 |
| 5 years | $-11,471 |
| 7 years | $-8,273 |
| 9 years | $-5,075 |
| 11 years | $-1,877 |
| 13 years | $1,321 |
| 15 years | $4,518 |
| 17 years | $7,716 |
| 19 years | $10,914 |
| 21 years | $14,112 |
| 23 years | $17,310 |
| 25 years | $20,508 |
Top Solar Installers in Woodlake
When switching to solar energy, many homeowners choose to go with a solar company since DIY solar panel installation can be a difficult project. Another benefit of using a solar installer is that they can help you maximize your return of investment by reducing your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Woodlake
Factors that Affect Solar Panel Costs in Woodlake
While the average cost of a solar system in Woodlake is $19,466, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The model of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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 falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Woodlake, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can play a role in determining how much you pay. Woodlake’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better 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 promotion can bring their pricing down 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 | $3.73 | $15,681 | $13,955 | 13.2 years |
| 8 kW | $3.66 | $20,506 | $19,009 | 13.0 years |
| 10 kW | $3.59 | $25,130 | $24,264 | 12.7 years |
| 12 kW | $3.52 | $29,553 | $29,720 | 12.5 years |
| 14 kW | $3.45 | $33,775 | $35,377 | 12.2 years |
| 16 kW | $3.37 | $37,796 | $41,235 | 12.0 years |
| 18 kW | $3.30 | $41,615 | $47,294 | 11.7 years |
| 20 kW | $3.23 | $45,234 | $53,554 | 11.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Contract: It’s important to read through your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Woodlake, VA Solar Cost FAQs
What is the average cost of installing solar panels in Woodlake?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,950 for a 5-kW system and $35,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Woodlake?
Leasing solar panels can be an attractive choice, as it typically 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.
Can solar panels eliminate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Woodlake, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Woodlake?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.