Solar Panel Cost Guide in Chesapeake, VA (2024 Update)
- Chesapeake Solar Installation Cost: $18,339
- 25-Year Savings: $22,155
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Chesapeake
See how much it might cost to make the switch to solar in Chesapeake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Chesapeake, the average cost of a solar system is 4 per watt.The average solar panel system size in Chesapeake is around 7.3 kilowatts, meaning a cost of about $18,339 for a solar installation, or $26,225 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary based on several factors, such as how many panels you need, your energy usage and what company you go with.Despite the large upfront cost, the average Chesapeake homeowner can save about $19,000 on their power bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar company in Chesapeake for a quote for your home.
Solar savings over time in Chesapeake
| Year | Return on Investment |
|---|---|
| 1 years | $-16,740 |
| 3 years | $-13,543 |
| 5 years | $-10,345 |
| 7 years | $-7,147 |
| 9 years | $-3,949 |
| 11 years | $-751 |
| 13 years | $2,447 |
| 15 years | $5,645 |
| 17 years | $8,843 |
| 19 years | $12,041 |
| 21 years | $15,238 |
| 23 years | $18,436 |
| 25 years | $21,634 |
Top Solar Installers in Chesapeake
When making the switch to solar, many homeowners decide to hire a solar installation company since installing solar panels yourself can be a difficult project. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
If you're on the hunt for a solar company in Chesapeake, we've compiled a list of our top suggestions here:
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 Chesapeake
Factors that Affect Solar Panel Costs in Chesapeake
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Chesapeake: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Chesapeake, one of the most crucial 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 gauge by looking at past electricity bills. Your overall cost can increase by about $3,590 for each additional kilowatt you need.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Chesapeake average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Chesapeake, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your overall costs, so it’s vital to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Chesapeake is the company you choose to install your solar system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services at different price points.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $14,084 | 13.2 years |
| 8 kW | $3.66 | $20,506 | $19,181 | 12.9 years |
| 10 kW | $3.59 | $25,130 | $24,479 | 12.7 years |
| 12 kW | $3.52 | $29,553 | $29,978 | 12.4 years |
| 14 kW | $3.45 | $33,775 | $35,678 | 12.2 years |
| 16 kW | $3.37 | $37,796 | $41,578 | 11.9 years |
| 18 kW | $3.30 | $41,615 | $47,680 | 11.7 years |
| 20 kW | $3.23 | $45,234 | $53,983 | 11.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Chesapeake, VA Solar Cost FAQs
How much does it cost to install solar panels in Chesapeake?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly 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 above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Chesapeake?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback 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 option if you want to get the most savings.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $992.17 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.