Solar Panel Cost Guide in Cheat Lake, WV (2023 Update)
- Cheat Lake Solar Installation Cost: $21,374
- 25-Year Savings: $26,686
- Payback Period: 11.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cheat Lake
Find out what the average cost of solar panel installation is in Cheat Lake.
Although the national average of solar panels is $2.66 per watt, solar panels in Cheat Lake typically cost around 2.64. The average Cheat Lake homeowner needs a 11.6-kilowatt system, which would cost about $21,381 with the federal tax credit, or $30,575 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what installation company you go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Cheat Lake can save about $16,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar company in Cheat Lake for a quote for your home.
Solar savings over time in Cheat Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-19,944 |
| 3 years | $-17,085 |
| 5 years | $-14,226 |
| 7 years | $-11,367 |
| 9 years | $-8,509 |
| 11 years | $-5,650 |
| 13 years | $-2,791 |
| 15 years | $68 |
| 17 years | $2,927 |
| 19 years | $5,786 |
| 21 years | $8,645 |
| 23 years | $11,504 |
| 25 years | $14,363 |
Top Solar Installers in Cheat Lake
Many homeowners opt for a solar panel company since figuring out how to install solar panels yourself can be challenging. A solar company can also help save you money in the long run by offering warranties, repairs and system component replacements.
If you're looking for a solar company in Cheat Lake, we've compiled a list of our top suggestions here:
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
The cost of installing a solar system in Cheat Lake can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Cheat Lake average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in Cheat Lake, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's wise to factor 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 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 system. As with choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services at different costs. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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.