Solar Panel Cost Guide in Cave Spring, VA (2024 Update)
- Cave Spring Solar Installation Cost: $19,617
- 25-Year Savings: $5,217
- Payback Period: 24.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Cave Spring
We break down average solar pricing in Cave Spring.
Although the national average of solar panels is $2.66 per watt, solar panels in Cave Spring generally cost around 4.Because a 7.8-kW system is needed to cover the energy needs of a typical home in Cave Spring, the average price of going solar will be about $19,617 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar panels you choose, your solar contractor and more.For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Cave Spring see about $10,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in Cave Spring for a customized estimate.
Solar savings over time in Cave Spring
| Year | Return on Investment |
|---|---|
| 1 years | $-18,197 |
| 3 years | $-15,358 |
| 5 years | $-12,518 |
| 7 years | $-9,679 |
| 9 years | $-6,839 |
| 11 years | $-4,000 |
| 13 years | $-1,161 |
| 15 years | $1,679 |
| 17 years | $4,518 |
| 19 years | $7,358 |
| 21 years | $10,197 |
| 23 years | $13,036 |
| 25 years | $15,876 |
Top Solar Installers in Cave Spring
Many homeowners choose to use a solar installer since installing solar panels by yourself can be challenging. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Cave Spring
Factors that Affect Solar Panel Costs in Cave Spring
The cost of installing a solar system in Cave Spring can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $3,590 per kilowatt in Cave Spring.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Cave Spring, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Cave Spring, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.It’s a good idea 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
Lastly, the company you opt for to install your solar panel system can influence how much you pay. Cave Spring’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Cave Spring are more knowledgeable 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 help you save 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 | $3.73 | $15,681 | $-122 | 25.2 years |
| 8 kW | $3.66 | $20,506 | $240 | 24.7 years |
| 10 kW | $3.59 | $25,130 | $803 | 24.2 years |
| 12 kW | $3.52 | $29,553 | $1,566 | 23.7 years |
| 14 kW | $3.45 | $33,775 | $2,531 | 23.3 years |
| 16 kW | $3.37 | $37,796 | $3,697 | 22.8 years |
| 18 kW | $3.30 | $41,615 | $5,063 | 22.3 years |
| 20 kW | $3.23 | $45,234 | $6,631 | 21.8 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: The model of solar panel you want to install plays a part in which installer you should opt for, since different companies offer different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Cave Spring, VA Solar Cost FAQs
What is the average cost of installing solar panels in Cave Spring?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $17,950 for a 5-kW system and $35,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Cave Spring, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.