Solar Panel Cost Guide in Nitro, WV (2023 Update)
- Nitro Solar Installation Cost: $20,531
- 25-Year Savings: $28,358
- Payback Period: 10.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Nitro
We go over average solar pricing in Nitro.
In Nitro, solar panels cost about 2.64 per watt on average. Using this figure, a typical 11.1-kW system would cost about $20,531 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs may differ based on factors unique to your home and what company you want to go with. Many homeowners find installing a solar system is a sound investment. The average homeowner in Nitro can save about $17,000 on their electricity bills over 20 years.
To receive a free quote from a pre-vetted solar company in Nitro, you can click the button below.
Solar savings over time in Nitro
| Year | Return on Investment |
|---|---|
| 1 years | $-18,576 |
| 3 years | $-14,665 |
| 5 years | $-10,753 |
| 7 years | $-6,842 |
| 9 years | $-2,931 |
| 11 years | $980 |
| 13 years | $4,891 |
| 15 years | $8,802 |
| 17 years | $12,713 |
| 19 years | $16,624 |
| 21 years | $20,535 |
| 23 years | $24,447 |
| 25 years | $28,358 |
Top Solar Installers in Nitro
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be a lot of work. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar company in Nitro, the EcoWatch team has put together 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 Nitro
Factors that Affect Solar Panel Costs in Nitro
For many Nitro homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Nitro, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,640. There are many different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Nitro, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Nitro, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Nitro have more knowledge about local solar incentives and can help you take advantage of 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 | $14,881 | 10.9 years |
| 8 kW | $2.69 | $15,080 | $20,138 | 10.7 years |
| 10 kW | $2.64 | $18,480 | $25,542 | 10.5 years |
| 12 kW | $2.59 | $21,732 | $31,093 | 10.3 years |
| 14 kW | $2.53 | $24,837 | $36,793 | 10.1 years |
| 16 kW | $2.48 | $27,794 | $42,641 | 9.9 years |
| 18 kW | $2.43 | $30,603 | $48,636 | 9.7 years |
| 20 kW | $2.38 | $33,264 | $54,779 | 9.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project timeline rebates and warranties.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
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 Nitro, WV Solar Cost FAQs
What is the average cost of installing solar panels in Nitro?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Nitro?
Leasing solar panels can be an attractive 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will installing solar panels impact the value of my home?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.