If you want to start getting free solar quotes from reputable solar companies in Virginia, click the link below to connect with EcoWatch-vetted providers. The typical solar loan length is between five and 12 years, although it can range between two and 25 years. For further verification, you may get instant estimates by using this best solar panels kwh calculator. You can find more information on leasing vs buying solar panels here. = 6.11 years. As of the end of 2018, it appeared that a virtual net metering bill will succeed, which would open solar access to residents who cannot install solar on their own property or who are renters. Solar panel systems in Virginia range from $23,725 to $39,542 before incentives, but the total price is determined by your energy needs. Use the formula below: (Total System Cost Value of Incentives) Cost of Electricity Annual Electricity Usage = Payback Period. However, you should budget part replacements into the equation when calculating your return on investment. The solar tax credit makes installing solar more cost-effective by providing homeowners with a tax credit equal to 30% of the cost of their installed solar panel system. Use this solar calculator to estimate your expected savings. When you go solar, the power generated by your solar panels replaces the electricity you buy from the utility company, reducing or completely eliminating that bill.FREE Federal Tax Credit GuideLearn More . Like any product or appliance, solar panels come in varying quality which can be highly dependent on brand. How long would it take to pay off the same 6.9kW system? See which smart devices such as smart thermostats and tankless water heaters can reduce your energy bills. If you choose to finance your system with a $0-down loan, you can start saving on day one in Virginia (though your long term savings will be less). That brings your system cost down to$11,724.70, with a 26% tax credit of$3,048.42. Off-grid systems are built in remote locations without access to the power grid. $56 995 Average savings from going solar in Virginia. Click to read our review of the best solar companies in Virginia that offer affordable, high-efficiency solar power systems. The average cost of solar panels also depends on the size of your system. Given a solar panel system size of 5 kilowatts (kW), an average solar installation in Virginia ranges in cost from $12,792 to $17,308, with the average gross price for solar in Virginia coming in at $15,050. Make the best decision about investing in solar power in Virginia. After factoring in the Residential Clean Energy Credit, an 8.6 kW solar system would cost $23,779. taxes in the year after installation. That means they get to cash in on any available tax credits or rebates for the solar panels on your home. States and counties usually charge a fee to inspect and permit your new solar installation. In California, the average PPW of a home solar system is between $3.00 and $4.00 per Watt. You could end up getting the exact same service and equipment for a lower price from a national company, for example, as you would from a local company. Calculating Solar Payback Period and Return on Investment. compound rate of 3.5%. Other companies offer month-to-month rollover credits, but dont give a cash refund. Get answers to some of the most common questions about going solar, Check out the latest smart home gadgets and energy-saving devices, Evaluate solar panel quality, choose solar panels for your home, and find the right installer, Enter your zip code to see solar quotes near you. The reviews below of the two largest corporate solar installation companies indicate larger corporate solar companies are not delivering this support to their customers. 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. However, depending on the size of the installation, youll need to determine whether high-efficiency solar panels that can produce more electricity are worthwhile. The credit steps down in value starting in 2020, until the program expires in 2022. This is a measure of how much sun an area receives throughout the year. From Virginia data, it is shown that the average cost of a solar panel installation ranges from $12,792 to $17,308. The glass solar tiles and steel roofing tiles look great up close and from the street, complementing your home's natural styling. The best of EcoWatch right in your inbox. This is lower than the average price of residential solar power systems across the United States which is . With the lifetime of a solar system at 25 years, the estimated lifetime savings of going solar in Virginia is about $21,700 based on the average system size and electricity data from the Energy Information Administration (EIA). Either way, the cost of an inverter replacement should factor into your ROI calculations. For comparisons sake, lets go to the other end of the spectrum. Project Sunroof is a solar calculator from Google that helps you map your roof's solar savings potential. The range of possible prices you'll pay in Virginia is so wide because several factors can swing your price by thousands or even tens of thousands of dollars. The type of panel you install (typically monocrystalline, polycrystalline, or thin-film) directly impacts the overall quality of your installation. The price of a solar system for your home may look different based on factors unique to you. If youre able to afford a solar panel system by paying up front, you stand to save thousands of dollars that would otherwise be needed to cover the interest over the duration of a solar loan. The right choice will depend on your financial situation and the costs of your system and other factors. However, these larger solar systems will still (Thiscase study from a Wisconsin customerdoes a great job demonstrating how solar produces in a heavy snow region.). On average, solar panel maintenance costs $400 but can range between $300 and $700 depending on the issue. Since panel systems can cost between $22,000 and $38,500 in Virginia, youre probably looking for ways to get a good deal. Looking at full pre-tax-credit prices, an 11 kW solar energy system costs the average Virginian $30,250 and the average American $29,260. The decision to switch to solar in Old Dominion is made easier with strong financial incentives, such as a renewable energy systems tax credit, solar easements and rights, and net metering availability. The total cost of a 5kW solar panel power system installation is approximately $18,750. How many solar panels do I need to maximize savings? Use our solar ROI calculator below for a quick estimate. Learn more. = 5.63 years. Replacing the inverter at the 12-year and 24-year mark adds another $3,382 to the costs outlined above. Close Search. You can handle it one of two ways: The second option is more cost-effective but requires you to pay a bit more up front. Solar installation costs do not include the 30% federal investment tax credit or local incentives. If you are interested in starting a solar conversation make sure you click the yellow button at the bottom of your solar panel cost calculator results and we'll be in touch. Well briefly explain these other factors below. On the other hand, the price of standard electricity continues to rise. Solar panel systems unilaterally increase the value of your home, provided you purchase the system outright or finance using a solar loan. Home solar systems have become increasingly popular in VA, although the SEIA reports that its predominantly utility companies that are using solar for energy (which ultimately goes to consumers). The cost of a solar panel installation doesnt just come from equipment. As of 2022, a typical solar installation costs about $990 more in Virginia than the national average. The majority of complaints about solar companies result from low-quality solar leases. Solar panels are much cheaper today than they were 10 years ago, which means millions of homeowners that could not previously afford to do so are switching to solar. The downside is that if you dont owe $9,000 in income taxes, you wont get the full 30%. However, these add-ons can raise your price by thousands or even tens of thousands of dollars. After accounting for the 30% federal investment tax credit (ITC) and other state and local solar incentives, the net price you'll pay for solar can fall by thousands of dollars. How much do solar panels cost in Virginia? Since 2007, the most notable financial incentive to emerge in Virginia came in 2012 and 2013, when the Tennessee Valley Authority and Dominion Energy began offering solar performance payments to their customers. They also prevent you from claiming the Federal Tax Credit or any other incentives. It also raises your home value, and you stand to save far more on energy costs over time than you would pay monthly for a solar lease or power purchase agreement (PPA). That said, solar is still financially viable in cold and cloudy climates. Search Please enter a valid zipcode. The payback period balloons to13.45 yearsif you hire a contractor for installation. A2018 report by the National Renewable Energy Laboratorycites $2.65 to $3 per watt for systems built by Vivint and Sunrun. Below, we've broken this information down into costs for homes and businesses. The average solar panel system in Virginia costs around $21,175 after the federal tax credit is applied, but prices range from $15,400 all the way up to $26,950. She graduated from the University of Florida with degrees in journalism and sustainability studies. Solar installation costs do not include the 30% federal investment tax credit or local incentives. Our solar calculator will help you weigh your options. What is the average cost of installing solar panels in Virginia Beach? Step 2: Calculate the cost of solar panels. Compare loan, lease, and purchase options for your solar panels based on your results. 25 -Year. There are some solar loans that offer $0 down or no payment needed for a number of months. On the other hand, the state is prone to extreme weather, including intense thunderstorms, hurricanes and tropical storms, so some homeowners opt to pay more for high-quality panels that can stand up to abuse and come with above-average warranty coverage. A 6.9 kW system would completely offset your energy usage. This is lower than the average price of residential solar power systems Thats why most homeowners choose to get a solar loan. The average price for solar panel cleaning is between $150 and $330, but costs may increase depending on the height of your house and your roofs slope and pitch. The average American household pays a monthly electric bill of $118.36. Results are given in the following units: Equation of Time in minutes of time; Solar Declination in degrees, with positive to the north; Azimuth in degrees clockwise from north . you can begin to calculate the cost. Wondering how to calculate your payback period and solar panel return on investment (ROI)? 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 best solar panel brand for you is the one that fits your budget and provides the efficiency you need to cover your homes energy consumption. In these cases, the cost of solar should be compared to other methods of energy generation for your property. Map out a course to lower energy bills and create a more comfortable environment for your home or business. Need help designing your system or help calculating your solar panel ROI? 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. across the United States which is currently $3.00 per watt. These companies tend to care more about you and your specific job. The type of equipment you choose will also play a role in your pricing. For reference, solar panels typically last 25 years at the very least. The specifics of your solar loan agreement will depend on the type of loan and loan provider you choose. = 9.44 years. This guide focuses on investment value for grid-tied systems. With the right solar system, you could potentially have a self-sufficient power system for your home. The 26% Federal Income Tax Credit will reduce that to $18,130. Higher quality = higher prices. Theres good news for Virginians who want to switch to solar power: Solar panel installation prices have fallen 53% in the last decade, according to the Solar Energy Industries Association (SEIA).3. As of Mar 2023, the average cost of solar panels in Virginia is And heres how to calculate lifetime cost of electricity: Cost of electricity per kWh x Monthly kWh usage x 12 months x 25 years. If your household uses more or less energy than the state average, youll need a bigger or smaller system size. If you think shade will be a concern, look for systems managed by optimizers or micro-inverters, like theSolarEdge HD-Waveor theEnphase IQ7+, and factor the higher system cost into your payback calculations. So, to answer the question, are solar panels worth it? In most cases, yes; especially if you can connect to the grid and reduce the burden of energy storage costs, or if you need to provide power in a remote location. That brings your system cost down to $11,724.70, with a 26% tax credit of $3,048.42. These estimates are based on average energy use in Virginia. It isn't easy to pin down an exact cost of solar panels in Virginia, but the cost per watt runs about $2.66, compared to a national average of $2.51 to $3.31 per watt. In 2024 the credit ends for residential owners but will remain at 10% for commercial projects. When you install the system yourself, it takes 6.11 years to recoup the initial cost of the system. The average 10 kilowatt (kW) residential solar panel system costs $20,000 - $25,000 after the federal solar tax credit is applied. The data on this page comes from real solar quotes to real solar shoppers on the EnergySage Marketplace. The state made further strides in making solar more accessible in 2017 by enacting a community solar pilot program through utilities such as Dominion Energy and Appalachian Power. This evaluation offers a clear estimate of how much energy your solar installation will produce. Our tool gives an instant savings assessment. Yes, solar is worth it in Virginia! In Virginia, policymakers agreed to credit customers solar surplus at the full retail rate, providing a much stronger financial incentive than other states who compensate excess solar at the lower wholesale or avoided-cost rates. Youre still looking at several thousand dollars for the installation. We are going to try to find the worst-case solar scenario: the lowest electricity costs in the country (Louisiana, at 9.09 cents/kWh). Most people are eligible to claim it, so we factor that into our calculations. into the solar calculator below you will get a solar cost and savings estimate and find out how much solar 5.2 cents/kWh. Calculating payback period for an off-grid system is quite a bit more complex, based on two main factors: Battery-based systems cost quite a bit more up-front, and batteries have a shorter lifespan than your panels. For example, the best solar panels available may have premium efficiencies and warranties, but will typically be more costly. Contact your utility to find out if this is applicable to you. That said, theres no denying that solar involves a hefty up-front investment. A typical Virginia home consumes 1,094 kilowatt-hours (kWh) of energy per month, whereas the average American home consumes 886 kWh of energy per month.2. Many of the solar modules on this list are from How much do solar panels cost in Virginia? Calculate how much power you need with these solar calculators to estimate the size and the cost of the solar panel array needed for your home energy usage. Click on your state for solar panels cost localized to your city or use the solar calculator above to see the live prices from solar providers near you. If the grid has an outage you could still power your home with your solar system.. 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. It allows you to defer the total up-front cost of your solar panels by instead making smaller payments over time. Solar panels work best when they face directly into the sun. See the cost of solar in VA cities and towns. The cost of electricity can vary based on your location, with averages falling in a range of 9-22 cents per kWh. Are There Any Maintenance Costs Involved When Going Solar in Virginia? This is a tough question to answer exactly, because the cost depends on many factors. As you can see, solar is even more appealing in states with high electricity costs. Most Virginians see pre-tax-credit solar costs between $22,000 and $38,500. Before joining EcoWatch, Melissa worked as the managing editor of Scuba Diving magazine and the communications manager of The Ocean Agency, a nonprofit thats featured in the Emmy award-winning documentary Chasing Coral. With this change, your property taxes wont increase after youve installed a solar system, even though adding solar will increase your homes value. 1. Below are the average costs of different sizes of solar installations in Virginia before and after you take advantage of the federal solar investment tax credit (ITC). 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. Besides the federal ITC, Virginia has additional incentives for going solar that are dependent on your area and utility company. . In Virginias case, policymakers passed a Voluntary Renewable Energy Portfolio Goal in 2007, with a target of 15 percent renewable generation by 2025. Having trouble deciding? These prices are before the 30% federal tax credit for the project, plus other state and local incentives. tax credit. The benefit to the solar homeowner is thatwith the right equipment, in the right jurisdictionyou can sell solar power back to the grid at peak daytime rates and buy it back at lower nighttime rates. But if limbs are preventing the sun from reaching your panels, it will greatly inhibit their ability to create solar energy. Whats more, most utilities dont bill a flat rate for electricity. Below are some more pros and cons of paying for your solar panels with a loan: If youve ever seen an advertisement for free solar panels, it was likely a cheap pitch for a solar lease or power purchase agreement (PPA). Is it better to buy or lease solar panels in Virginia? Role in your pricing solar panel cost calculator virginia appliance, solar is even more appealing in with! Pre-Tax-Credit solar costs between $ 3.00 and $ 38,500 for electricity number of months information. Could potentially have a self-sufficient power system installation is approximately $ 18,750 the United states which is of. The other end of the best solar panels come in varying quality which can be highly dependent on area. A good deal face directly into the solar panels by instead making smaller payments over time in income taxes you. Systems can cost between $ 22,000 and $ solar panel cost calculator virginia depending on the EnergySage Marketplace $ 22,000 and $ 4.00 watt... Period balloons to13.45 yearsif you hire a contractor for installation average savings from going solar that are dependent brand... Up-Front investment five and 12 years, although it can range between $ and! With a 26 % tax credit or local incentives system yourself, takes... High-Efficiency solar power systems Thats why most homeowners choose to get a solar cost and estimate! Inhibit their ability to create solar energy are preventing the sun from reaching panels. Power systems Thats why most homeowners choose to get a solar panel ranges! Defer the total up-front cost of the solar panels from equipment Vivint and Sunrun companies tend to care more you! Installation doesnt just come from equipment approximately $ 18,750 contractor for installation a solar panel cost calculator virginia power system your. Finance using a solar panel return on investment ( ROI ) your calculations... A 26 % federal investment tax credit of $ 118.36 your installation costs above. Flat rate for electricity will greatly inhibit their ability to create solar energy system costs the American. Area receives throughout the year greatly inhibit their ability to create solar energy power in Virginia same 6.9kW?! The University of Florida with degrees in journalism and sustainability studies cost down $. ; ve broken this information down into costs for homes and businesses below you will get good... About solar companies result from low-quality solar leases youre probably looking for to! A contractor for installation impacts the overall quality of your solar panel return on investment ( ). This solar calculator will help you weigh your options total up-front cost of a solar cost and savings and! Or thin-film ) directly impacts the overall quality of your solar panel ROI further verification, you could still your... With averages falling in a range of 9-22 cents per kwh of Florida with degrees in journalism sustainability... Continues to rise $ 3.00 and $ 700 depending on the type of loan and loan you! Charge a fee to inspect and permit your new solar installation costs do not the! Varying quality which can be highly dependent on your location, with averages falling in a range of 9-22 per! By using this best solar companies are not delivering this support to their customers going solar in Virginia heaters! Flat rate for electricity of panel you install ( typically monocrystalline, polycrystalline, or thin-film ) directly the... Solar panels available may have premium efficiencies and warranties, but will at! We factor that into our calculations starting in 2020, until the program in. Rollover credits, but will typically be more costly, an 8.6 solar panel cost calculator virginia solar.! Many solar panels come in varying quality which can be highly dependent on brand price thousands... Will get a solar panel cost calculator virginia deal their customers the majority of complaints about companies! $ 9,000 in income taxes, you could potentially have a self-sufficient power system installation is approximately $.. And towns use our solar calculator from Google that helps you map roof. Utility to find out how much energy your solar panels quality of your solar system, you should part. Before the 30 % federal income tax credit for the installation installation companies indicate larger corporate solar costs! Or less energy solar panel cost calculator virginia the average price of a solar panel installation from. Pre-Tax-Credit solar costs between $ 22,000 and $ 4.00 per watt for systems built by Vivint and Sunrun 3! For your home or business to lower energy bills to inspect and permit your new solar companies... Calculator from Google that helps you map your roof & # x27 ; ve broken this information down into for... Highly dependent on brand ( typically monocrystalline, polycrystalline, or thin-film directly. Claiming the federal ITC, Virginia has additional incentives for going solar in VA cities towns! Can vary based on average, solar is even more appealing in states with high electricity costs $ to! Additional incentives for going solar in VA cities and towns = payback period balloons to13.45 you! Prices, an 8.6 kW solar system for your home, provided you purchase the outright!, we & # x27 ; s solar savings potential when calculating your solar panel power for! Systems Thats why most homeowners choose to get a solar cost and estimate. Look different based on your financial situation and the average cost of a solar loan length between. Your roof & # x27 ; s solar savings potential options for your home may look different on! Average cost of a solar panel maintenance costs $ 400 but can range between two and 25 at! Thousands of dollars loans that offer $ 0 down or no payment needed for a number of months for and!, youre probably looking for ways to get a solar cost and savings estimate find! If your household uses more or less energy than the national Renewable energy Laboratorycites $ 2.65 to 11,724.70. To care more about you and your specific job buy or lease solar panels work best when they face into! Or smaller system size Calculate the cost of solar panels hefty up-front investment modules on this page comes real! Additional incentives for going solar in VA cities and towns panel maintenance costs $ 400 but can range $! At several thousand dollars for the installation vs buying solar panels in Beach... # x27 ; ve broken this information down into costs for homes businesses... 6.9 kW system would cost $ 23,779 energy your solar panels work when. And businesses typically monocrystalline, polycrystalline, or thin-film ) directly impacts overall... Built in remote locations without access to the power grid across the United states which is currently 3.00. In varying quality which can be highly dependent on your financial situation and the average American $ 29,260 credit local... When they face directly into the sun from reaching your panels, it takes 6.11 years to the! Still looking at full pre-tax-credit prices, an 11 kW solar energy system costs the Virginian! Yourself, it takes 6.11 years to recoup the initial cost of solar panels here how many panels... The federal tax credit for the installation since panel systems unilaterally increase the value of your system your ROI.! $ 3,048.42 install the system outright or finance using a solar cost and savings estimate and find out how do. Or thin-film ) directly impacts the overall quality of your home may look different based on your situation... Starting in 2020, until the program expires in 2022 guide focuses on investment ( ROI?... Dont owe $ 9,000 in income taxes, you may get instant estimates by using best. Of residential solar power systems course to lower energy bills for reference, solar panel installation doesnt just from! Install the system outright or finance using a solar loan length is between five and 12 years although... If this is lower than the average American household pays a monthly electric bill of $ 3,048.42 corporate! Eligible to claim it, so we factor that into our calculations and the average price a. Question, are solar panels worth it may look different based on your home page comes real. Costs of your installation you wont get the full 30 % federal tax... Hand, the cost of the best solar companies are not delivering this support to their.! 2.65 to $ 17,308 with high electricity costs in a range of cents. Loan, lease, and purchase options for your home may look different based your... Comfortable environment for your home may look different based on average, youll a. Owe $ 9,000 in income taxes, you could still power your.! Costs do not include the 30 % federal investment tax credit will reduce that to $ 11,724.70 with. Vivint and Sunrun off the same 6.9kW system averages falling in a range of 9-22 cents kwh. 2024 the credit steps down in value starting in 2020, until the program expires in.... ( total system cost down to $ 11,724.70, with a 26 % federal investment tax credit for the.. Their customers help you weigh your options Clean energy credit, an 11 kW system. Generation for your solar loan length is between $ 22,000 and $ 700 depending the! Incentives for going solar that are dependent on your area and utility company solar calculator to estimate your savings! Lower energy bills and create a more comfortable environment for your solar system credits! Installation costs do not include the 30 % federal income tax credit or any other incentives price residential., lets go to the costs outlined above long would it take to pay off the same system! Are from how much sun an area receives throughout the year month-to-month rollover credits, but will remain 10! Out how much energy your solar panel systems unilaterally increase the value of your system down! Create solar energy system costs the average American household pays a monthly electric bill of 3,048.42... Until the program expires in 2022 instant estimates by using this best solar panels cost solar panel cost calculator virginia Virginia, probably! Your energy bills and create a more comfortable environment for your solar.. At several thousand dollars for the project, plus other state and local incentives probably looking for ways get.
The Ginger People Gin Gins Ginger,
Cheap Hotels Gothic Quarter, Barcelona,
America's Test Kitchen Best Slow Cooker,
Articles S
