Solar Panel Cost Guide in Covington, VA (2024 Update)
- Covington Solar Installation Cost: $20,135
- 25-Year Savings: $3,707
- Payback Period: 26.3 Years
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Average Cost of Solar Panels in Covington
We go over average solar pricing in Covington.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Covington, the average cost of a solar system is 4 per watt.The average solar panel system size in Covington is around 8.0 kilowatts, meaning a cost of about $20,135 for a solar installation, or $28,793 before the 0 federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you will differ based on factors unique to your home and what company you go with.With typical savings of about $9,600 on energy bills over 20 years, many homeowners in Covington find installing solar panels has a decent ROI.
To get a free estimate from a highly rated solar installation company in Covington, you can click the button below.
Solar savings over time in Covington
| Year | Return on Investment |
|---|---|
| 1 years | $-18,536 |
| 3 years | $-15,338 |
| 5 years | $-12,140 |
| 7 years | $-8,942 |
| 9 years | $-5,744 |
| 11 years | $-2,546 |
| 13 years | $651 |
| 15 years | $3,849 |
| 17 years | $7,047 |
| 19 years | $10,245 |
| 21 years | $13,443 |
| 23 years | $16,641 |
| 25 years | $19,839 |
Top Solar Installers in Covington
When switching to solar energy, many homeowners prefer to use a solar installer since installing solar panels yourself can be a time-consuming project. Another good thing about using a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
If you're looking for a solar installer in Covington, the EcoWatch team has put together a list of our top suggestions here:
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
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 Covington
Factors that Affect Solar Panel Costs in Covington
There are many factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $3,590 per kilowatt in Covington.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Covington provide solar loans, which reduce the initial cost of installing solar.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Covington, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $-1,355 | 27.4 years |
| 8 kW | $3.66 | $20,506 | $-1,405 | 26.8 years |
| 10 kW | $3.59 | $25,130 | $-1,253 | 26.3 years |
| 12 kW | $3.52 | $29,553 | $-901 | 25.8 years |
| 14 kW | $3.45 | $33,775 | $-347 | 25.3 years |
| 16 kW | $3.37 | $37,796 | $407 | 24.7 years |
| 18 kW | $3.30 | $41,615 | $1,363 | 24.2 years |
| 20 kW | $3.23 | $45,234 | $2,520 | 23.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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
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 Covington, VA Solar Cost FAQs
What is the average cost of installing solar panels in Covington?
The average cost of solar panels in Covington is about $17,950 for a 5-kW system and $35,900 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Covington?
Solar panels aren’t free in Covington, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Covington?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.