Solar Panel Cost Guide in Cheat Lake, WV (2023 Update)
- Cheat Lake Solar Installation Cost: $21,381
- 25-Year Savings: $26,678
- Payback Period: 11.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Cheat Lake
Let's take a look at the average cost of solar in Cheat Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cheat Lake, the typical cost of a solar system is 2.64 per watt. To cover the typical energy needs of the average home in Cheat Lake, most homeowners require a 11.6-kilowatt system. Using the figure above, a solar installation costs around $21,381, or $30,575 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary depending on several factors, such as what size system you need, your energy usage and what solar installer you go with. For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Cheat Lake see about $16,000 in savings on utility bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cheat Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-19,459 |
| 3 years | $-15,614 |
| 5 years | $-11,769 |
| 7 years | $-7,925 |
| 9 years | $-4,080 |
| 11 years | $-235 |
| 13 years | $3,610 |
| 15 years | $7,454 |
| 17 years | $11,299 |
| 19 years | $15,144 |
| 21 years | $18,989 |
| 23 years | $22,834 |
| 25 years | $26,678 |
Top Solar Installers in Cheat Lake
Trying to install solar panels on your own can be a difficult task, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar installers offer can be helpful as well, especially if you aren't sure what type of solar equipment you need.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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 Cheat Lake
Factors that Affect Solar Panel Costs in Cheat Lake
For many Cheat Lake homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Cheat Lake, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production 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 $2,640. The brand of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Furthermore, 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 looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average. Although solar loans make going solar more accessible for Cheat Lake homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Cheat Lake 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 offer a range of services for different budgets. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have 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 | $2.75 | $11,532 | $13,400 | 11.6 years |
| 8 kW | $2.69 | $15,080 | $18,163 | 11.3 years |
| 10 kW | $2.64 | $18,480 | $23,073 | 11.1 years |
| 12 kW | $2.59 | $21,732 | $28,131 | 10.9 years |
| 14 kW | $2.53 | $24,837 | $33,337 | 10.7 years |
| 16 kW | $2.48 | $27,794 | $38,691 | 10.5 years |
| 18 kW | $2.43 | $30,603 | $44,192 | 10.2 years |
| 20 kW | $2.38 | $33,264 | $49,842 | 10.0 years |
How to Save on Solar Panels
The solar company you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
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 Cheat Lake, WV Solar Cost FAQs
How much does it cost to install solar panels in Cheat Lake?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $13,200 for a 5-kW system and $26,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Cheat Lake?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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 bang for your buck from going solar.
Can solar panels eliminate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Cheat Lake, 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 check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Cheat Lake?
Although 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 the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had 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.