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.
While the national average of solar panels is $2.66 per watt, solar panels in Cheat Lake typically cost around 3.Using this figure, a typical 11.6-kW system would cost about $27,446 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.Many homeowners find adopting solar power is a sound investment. The average homeowner in Cheat Lake can save about $16,000 on their electricity bills over 20 years.
To receive a free quote from a vetted solar company in Cheat Lake, you can click the button below.
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
Putting up solar panels yourself can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. In addition, if you’d like to maximize your investment in solar, using a solar installer can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Cheat Lake
Factors that Affect Solar Panel Costs in Cheat Lake
Even though the average cost of a solar system in Cheat Lake is $27,446, 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 system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $3,390 per kilowatt in Cheat Lake.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Cheat Lake, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the amount of 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 more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Cheat Lake is the company you hire to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services at different costs.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have 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 | $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
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Cheat Lake, WV Solar Cost FAQs
What is the average cost of installing solar panels in Cheat Lake?
The average cost of solar panels in Cheat Lake is about $16,950 for a 5-kW system and $33,900 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Cheat Lake?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of 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 financial benefits from going solar.
Can you sell solar power back to the grid in Cheat Lake?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.