Solar Panel Cost Guide in Cheat Lake, WV (2024 Update)
- Cheat Lake Solar Installation Cost: $27,446
- 25-Year Savings: $26,686
- Payback Period: 14.3 Years
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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.
In Cheat Lake, solar panels cost about 3 per watt on average.The average Cheat Lake homeowner needs a 11.6-kilowatt system, which would cost about $27,446 with the federal tax credit, or $39,248 before the 0 tax credit 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 installing solar panels can vary depending on a few factors, such as what size system you need, your energy consumption and what installation company you go with.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $16,000 over 20 years on electricity bills.
You can click the button below to get connected with a top solar company in Cheat Lake that can help you get a more accurate cost estimate for your home.
Solar savings over time in Cheat Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-26,016 |
| 3 years | $-23,157 |
| 5 years | $-20,298 |
| 7 years | $-17,440 |
| 9 years | $-14,581 |
| 11 years | $-11,722 |
| 13 years | $-8,863 |
| 15 years | $-6,004 |
| 17 years | $-3,145 |
| 19 years | $-286 |
| 21 years | $2,573 |
| 23 years | $5,432 |
| 25 years | $8,291 |
Top Solar Installers in Cheat Lake
Many homeowners opt for a solar panel installer since figuring out how to install solar panels yourself can be time-consuming. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy consumption, but working with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Cheat Lake: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,390. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect 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 increase the cost.
Solar Financing Terms
Most solar installers in Cheat Lake offer solar loans, which reduce your upfront costs of installing a solar system.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Cheat Lake is the company you get to install your solar system. As with choosing a company to install new cabinets, for example, you’ll have many options for solar installers that provide a range of services at different price points.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that has the products, warranties and services you want and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.53 | $14,808 | $10,124 | 14.8 years |
| 8 kW | $3.46 | $19,364 | $13,879 | 14.6 years |
| 10 kW | $3.39 | $23,730 | $17,823 | 14.3 years |
| 12 kW | $3.32 | $27,906 | $21,957 | 14.0 years |
| 14 kW | $3.25 | $31,893 | $26,281 | 13.7 years |
| 16 kW | $3.19 | $35,690 | $30,795 | 13.4 years |
| 18 kW | $3.12 | $39,297 | $35,498 | 13.1 years |
| 20 kW | $3.05 | $42,714 | $40,392 | 12.8 years |
How to Save on Solar Panels
Since the type of solar panels and the company 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 tips to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Solar Panel Brands: The brand of solar panel you want to get plays a part in which installer you should opt for, since different companies have access to different panels.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
What is the average cost of installing solar panels in Cheat Lake?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $16,950 for a 5-kW system and $33,900 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Cheat Lake?
Leasing solar panels can be an attractive choice, because it commonly 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 get the most savings.
Can you sell solar power back to the grid in Cheat Lake?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 buy 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.