solar panel cost calculator virginia

Thinking about switching to solar? 3. Many years later, Virginia took the next major step towards large-scale solar development when the state implemented a net metering program in 2005 for residential systems up to 20 kilowatts (kW). But it allows you to buy affordable, rural land and produce clean power where you need it. How much does it cost to install solar panels in Virginia? Those who are trying to become energy independent often pair their solar system with a battery. Most homeowners' solar panel costs in Virginia run $18,400 to $35,500 . Virginia offers homeowners financing via the Property Assessed Clean Energy (PACE) program. However, depending on the size of the installation, youll need to determine whether high-efficiency solar panels that can produce more electricity are worthwhile. Scenario #2: US national average electricity rates, DIY install. Equipment brands make a big difference in terms of pricing and your power production. And it can cost homeowners thousands of dollars to try to get out of a lease early. Your payback period is the time it takes to recover the initial cost of installing your system. The primary cost factors above will play the biggest roles in your solar system pricing, but there are some other considerations to think about before committing to a particular company. Virginia Solar Incentives (Rebates, Tax Credits & More in 2023), Top 5 Best Solar Companies in Virginia (2023 Reviews), Solar Panel Cost In 2023 (Homeowners Installation Savings Guide), 2023 IRA Solar Tax Credit Calculator Inflation Reduction Act. Solar leases are an attractive option because they can be installed for little to no money up front while still allowing you to take advantage of clean energy and lower electricity bills. Commercial systems are eligible at least through 2024, but may not be eligible for the full 30 percent depending on certain labor and domestic manufacturing requirements; they also may be eligible for specific ITC adders. Solar has roughly 20 times less carbon output than coal-powered energy sources. Solar panel cost Virginia: Prices & data January 2023. Typical Costs of Solar Providers in Virginia, connect with a reputable solar company in Virginia, read our review of the best solar companies in Virginia, solar systems have become increasingly popular, solar panels continue to gain traction in the Old Dominion, adding solar will increase your homes value, Property Assessed Clean Energy (PACE) program, several national incentives for lower income households, Best Solar Installers for Your Home in Virginia, Solar Panels in Virginia: What to Know Before Buying, Solar panel systems unilaterally increase the value of your home. However, the credit can be rolled over for up to five years. Ideally, you will know your total kilo-watt hours (kWh) used for the past 12 months or the average monthly kWh used each month. This means that after your system has been producing energy for 13 years and you break even on your investment, the energy you produce will essentially be free. The utility will charge a monthly fee for access to connect to the grid. That means they get to cash in on any available tax credits or rebates for the solar panels on your home. These credits stack, so during the sunny summer months you can rack up substantial credits that will reduce your electric bill in winter when your panels get less sunlight. Of course, the biggest downside to choosing a solar loan is that it comes with interest rates, so your solar panel system will cost you more in the long run and will extend your solar payback period. A 10kW system will product between 600 and 1,300 kWh/month, or approximately 12,000 kWh/year. If you purchase a solar system between 2020 and 2022, you'll receive a 26% tax credit. Throughout the nation, net metering programs have been crucial for the solar energy industry by allowing residents to send surplus net energy to the electric grid and receive compensation for it on their energy bill. There are three primary ways to pay for solar: with a cash purchase, with a. In this scenario, it takes 9.44 years to break even on your investment. These dimensions have remained more or less unchanged for decades, but the efficiency and output from that same footprint . With the pricing noted above, a 10kW system with US-made panels and microinverters would be priced at $2.45 (the average per watt price for the state of Virginia is $3.01) for a total cost of $24,500. One standard solar panel produces about 1.24 kWh per day, and costs around 65 to 75 cents per watt. Certain products like power optimizers and micro-inverters help mitigate shading issues. The table below includes a quick look at the relative pricing of the top solar providers and brands available in Virginia to give you an idea of which may be best for your household. The percentage you receive depends on when you purchase your solar panels. Manage your solar system from anywhere in the world with 24/7 mobile monitoring. Sudden spikes and dips in electricity usage can be hard for traditional power plants to keep up with, because it takes time for them to ramp their production up or down. It also increased the generation capacity cap to 150 . However, the average solar payback period for an 11 kW system in Virginia is about 13 years. There may be multiple AHJs that oversee the process. These incentives should be deducted from the cost of your project when evaluating your return on investment into solar energy. DIY grid-tied systems pay for themselves in about 5 years on average, and contractors extend that window to 8 to 10 years. Eliminating high electric bills leads to quite a speedy payback period of3.64 yearsif you take on a DIY install, or5.63 yearsif you hire a contractor. VA, Henrico, If an upfront purchase isnt right for you, solar loans and solar lease/PPAs are available to help finance a solar energy system. Based on national market research data. Always consult with a tax expert to help you determine your taxable income. Our solar calculator will help you weigh your options. Click below and use our process to receive multiple quotes instead: Connect with approved solar installers in your area. Importantly, these costs are typical for solar shoppers comparing solar quotes on the EnergySage Marketplace. All solar systems include solar panels, but add-on equipment like electric vehicle chargers and solar batteries can drive up your price. The total cost of a 5kW solar panel power system installation is approximately $18,750. This means the utility installs two separate meters, one for the power you use and one for the power you generate, and charges each at a different rate. If your household uses less energy, going solar could be cheaper for you, and vice-versa if you use more energy than average. Even taking this worst-case scenario into account, you still break even about halfway through the life of your 25-year panel warranty and stand to make a reasonable return on your investment. Who are the best solar panel installation companies in Virginia that offer the best deals on quality solar systems? Why? . Below well explain what you need to know about solar panel maintenance costs: If the glass cracks on your solar panel, it can cost between $120 to $500 per panel to fix. All Rights Reserved. ROI for systems installed by a contractor: $35,508.90 $21,294.28 =$14,214.62in savings over 25 years. Solar Panel Costs by State Since you have access to power lines, the cost of solar is measured against the alternative of buying power from the grid. Buy a replacement inverter when you need one. Systems will vary depending on the types of solar panels you choose and the size of your system. Many of our customers save money by choosing to self-install their system, cutting out the installation fees. If you cant afford to pay for your system in cash or credit, getting a solar loan is the next-best financing option. Most online solar panel calculators just estimate annual usage and production, ignore this complexity and give inaccurate results. When you receive multiple solar quotes through EnergySage, the two of these components combine, allowing you to save 15 to 25 percent on the cost of solar compared to going solar outside of EnergySage. The cost of an average-size residential VA solar installation is estimated between $11,900 and $16,160 . . You may also be eligible for reduced rates through an FHA (Federal Housing Administration) loan, which covers home improvement projects like adding a solar system to your home. Some companies, like SunPower, offer higher-efficiency panel brands, so you can get more energy output with a smaller size solar system compared to other brands. Repairs are typically not covered if the damage is due to weather, which is unfortunate since Virginia does see many types of inclement weather. However, these larger solar systems will still Panel degradation should be factored into ROI calculations and solar panel return on investment calculations, since panels will put out a bit lower production near the end of their lifespan. At a minimum, solar installations in Virginia are eligible for the 30% solar tax credit. This is why getting multiple solar quotes is so important. In the US, south-facing arrays offer the most production. The cost of installation of renewable energy systems in Virginia is supported by the federal solar investment We provide free system design consultations and installation guidance to give you the tools you need to install your system yourself. Solar panels are warrantied to last for 25 years, and they often last quite a bit longer than that (albeit at reduced efficiency). Most residents see pre-tax-credit solar costs between $22,000 and $38,500 in Virginia. On average, the national solar companies in Virginia like SunPower and Blue Raven Solar will have lower prices than local companies which in Virginia include Nova Solar and Virtue Solar. The average payback period for solar panels in Virginia is around 11.5 years years. For example, the best solar panels available may have premium efficiencies and warranties, but will typically be more costly. Installer Monocrystalline solar panels tend to be more efficient However, leases are some of the most affordable options in the short term, as companies usually dont charge you high installation fees to get the system up and running. Average cost; Cost calculator; Savings estimator; Cost factors; Tax credits; FAQs; Tips for hiring; Average cost of solar panels. Having trouble deciding? As of 2022, a typical solar installation costs about $990 more in Virginia than the national average. Specifically, the TVA Green Power Providers and Dominion Solar Purchase Program made solar more attractive by providing premium payments for solar generation. The right choice will depend on your financial situation and the costs of your system and other factors. When you compare quotes for solar panels on EnergySage's competitive solar marketplace, you can expect to see prices up to 20% lower than working with a single solar company. Taking these additional costs into consideration, the lifetime cost of owning this system is$16,558.28if you self-install or$21,294.28if you hire a contractor. We then show current offers from local solar companies for that system size. Are energy-efficient appliances worth it? Calculating Solar Payback Period and Return on Investment. Once the calculations are complete, you may use your browser's "Print" function to obtain a hardcopy of the results. *Prices are shown after applying the 30% federal tax credit. From Virginia data, it is shown that the average cost of a solar panel installation ranges from $12,792 to $17,308. What is the average cost of installing solar panels in Virginia Beach? But there are several ways you can finance your solar system cash purchase, solar loan or a solar lease. Well discuss the factors that influence your costs below. Powered by Tesla Solar Inverter, your fully integrated system is safe and reliable. 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