Solar Panel Cost Guide in Morgantown, WV (2023 Update)
- Morgantown 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 Morgantown
Let's take a look at the average cost of solar in Morgantown.
The average cost of a solar system in Morgantown is 2.64 per watt. The average Morgantown 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.
Keep in mind that the figures above are only estimates based on the average Morgantown homeowner. 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. Even with the high upfront cost, the average Morgantown homeowner can save about $16,000 on their electricity bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Morgantown
| 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 Morgantown
Although it's possible to install solar panels on your own, it requires extra time and handiness. That's one of the reasons the majority of homeowners choose a solar panel installer. Another advantage of going with a solar installer is that they can help you optimize your ROI by cutting back on future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 Morgantown
Factors that Affect Solar Panel Costs in Morgantown
There are several criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of a solar panel system in Morgantown, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by about $2,640 for each additional kilowatt you need. The kind 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, more efficient panels could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Morgantown average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Morgantown homeowners choose to finance their solar panel systems to make paying for solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can play a part in determining the cost. Morgantown's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Morgantown know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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
There are a lot of companies available in Morgantown, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
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 Morgantown, WV Solar Cost FAQs
How much does it cost to install solar panels in Morgantown?
The average cost of solar panels in Morgantown is about $13,200 for a 5-kW system and $26,400 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 consume.
Is it better to lease or buy solar panels in Morgantown?
Leasing solar panels can be an appealing choice, because it usually 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.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Morgantown?
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 amount 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.