Solar Panel Cost Guide in Ravenswood, WV (2023 Update)
- Ravenswood Solar Installation Cost: $20,558
- 25-Year Savings: $27,917
- Payback Period: 10.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Ravenswood
Let's have a look at the average cost of solar panels in Ravenswood.
Although the national average of solar panels is $2.66 per watt, solar panels in Ravenswood typically cost about 2.64. Using this figure, a typical 11.1-kW system would cost about $20,550 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Ravenswood depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. But, after 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 $17,000 over 20 years on energy bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Ravenswood
| Year | Return on Investment |
|---|---|
| 1 years | $-20,396 |
| 3 years | $-20,073 |
| 5 years | $-19,750 |
| 7 years | $-19,427 |
| 9 years | $-19,104 |
| 11 years | $-18,780 |
| 13 years | $-18,457 |
| 15 years | $-18,134 |
| 17 years | $-17,811 |
| 19 years | $-17,488 |
| 21 years | $-17,165 |
| 23 years | $-16,841 |
| 25 years | $-16,518 |
Top Solar Installers in Ravenswood
Many homeowners opt for a solar panel company since trying to install solar panels by yourself can be hard. The expertise that solar companies provide can be valuable as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Ravenswood:
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 Ravenswood
Factors that Affect Solar Panel Costs in Ravenswood
The cost of installing a solar system in Ravenswood can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Ravenswood, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by about $2,640 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are an affordable route because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $14,613 | 11.0 years |
| 8 kW | $2.69 | $15,080 | $19,780 | 10.8 years |
| 10 kW | $2.64 | $18,480 | $25,095 | 10.6 years |
| 12 kW | $2.59 | $21,732 | $30,557 | 10.4 years |
| 14 kW | $2.53 | $24,837 | $36,168 | 10.2 years |
| 16 kW | $2.48 | $27,794 | $41,926 | 10.0 years |
| 18 kW | $2.43 | $30,603 | $47,832 | 9.8 years |
| 20 kW | $2.38 | $33,264 | $53,886 | 9.5 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
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 Ravenswood, WV Solar Cost FAQs
What is the average cost of installing solar panels in Ravenswood?
This is a difficult 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Ravenswood?
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 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 financial benefits from going solar.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $871.50 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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.