Solar Panel Cost Guide in Richmond, VT (2025 Update)
- Richmond Solar Installation Cost: $15,413
- 25-Year Savings: $23,840
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Richmond
See how much it might cost to go solar in Richmond.
While the national average of solar panels is $2.66 per watt, solar panels in Richmond typically cost around 4.Using this figure, a typical 5.7-kW system would cost about $15,413 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Richmond homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $23,000 on utility bills over 20 years, many homeowners in Richmond find investing in solar can pay off big.
To get a free quote from a vetted solar company in Richmond, you can click the button below.
Solar savings over time in Richmond
| Year | Return on Investment |
|---|---|
| 1 years | $-14,052 |
| 3 years | $-11,331 |
| 5 years | $-8,609 |
| 7 years | $-5,887 |
| 9 years | $-3,165 |
| 11 years | $-444 |
| 13 years | $2,278 |
| 15 years | $5,000 |
| 17 years | $7,722 |
| 19 years | $10,443 |
| 21 years | $13,165 |
| 23 years | $15,887 |
| 25 years | $18,609 |
Top Solar Installers in Richmond
When making the switch to solar, many homeowners prefer to go with a solar installation company since putting up solar panels yourself can be a challenging project. The payback period on a solar system will vary based on factors like your location and energy use, but working with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our suggestions for providers in Richmond:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Richmond
Factors that Affect Solar Panel Costs in Richmond
Though the average cost of a solar system in Richmond is $15,413, your actual cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
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 a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Richmond to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time because of interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, 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 opt for to install your solar panels can influence your pricing. Richmond’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 compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $4.00 | $16,817 | $20,248 | 11.3 years |
| 8 kW | $3.93 | $21,991 | $27,428 | 11.1 years |
| 10 kW | $3.85 | $26,950 | $34,824 | 10.9 years |
| 12 kW | $3.77 | $31,693 | $42,436 | 10.7 years |
| 14 kW | $3.70 | $36,221 | $50,263 | 10.5 years |
| 16 kW | $3.62 | $40,533 | $58,306 | 10.3 years |
| 18 kW | $3.54 | $44,629 | $66,564 | 10.0 years |
| 20 kW | $3.47 | $48,510 | $75,038 | 9.8 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:
- Contract: When looking through 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.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Richmond, VT Solar Cost FAQs
What is the average cost of installing solar panels in Richmond?
The average cost of solar panels in Richmond is about $19,250 for a 5-kW system and $38,500 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 other than cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Richmond, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate 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 Richmond?
On average, the lifespan of solar panels is 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.