Solar Panel Cost Guide in Hollins, VA (2024 Update)
- Hollins Solar Installation Cost: $19,691
- 25-Year Savings: $4,074
- Payback Period: 25.7 Years
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Average Cost of Solar Panels in Hollins
We break down average solar pricing in Hollins.
In Hollins, solar panels cost about 4 per watt on average.Using this figure, a typical 7.8-kW system would cost about $19,691 before the 0 federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely vary based on your specific situation and what company you go with.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Hollins can save about $9,800 on their electricity bills over 20 years.
To get a free quote from a highly rated solar installer in Hollins, you can click the button below.
Solar savings over time in Hollins
| Year | Return on Investment |
|---|---|
| 1 years | $-18,271 |
| 3 years | $-15,432 |
| 5 years | $-12,592 |
| 7 years | $-9,753 |
| 9 years | $-6,914 |
| 11 years | $-4,074 |
| 13 years | $-1,235 |
| 15 years | $1,605 |
| 17 years | $4,444 |
| 19 years | $7,283 |
| 21 years | $10,123 |
| 23 years | $12,962 |
| 25 years | $15,802 |
Top Solar Installers in Hollins
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make swapping over to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Hollins:
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 Hollins
Factors that Affect Solar Panel Costs in Hollins
There are several criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar system in Hollins, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by about $3,590 for each additional kilowatt you need.The type of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Hollins provide solar loans, which reduce the initial cost of installing a solar system.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Hollins is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services for different budgets.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that offers the products, warranties and services you want and also is within your budget.
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 | $-1,012 | 26.7 years |
| 8 kW | $3.66 | $20,506 | $-947 | 26.2 years |
| 10 kW | $3.59 | $25,130 | $-681 | 25.7 years |
| 12 kW | $3.52 | $29,553 | $-214 | 25.2 years |
| 14 kW | $3.45 | $33,775 | $454 | 24.7 years |
| 16 kW | $3.37 | $37,796 | $1,323 | 24.2 years |
| 18 kW | $3.30 | $41,615 | $2,393 | 23.6 years |
| 20 kW | $3.23 | $45,234 | $3,665 | 23.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: If you’re concerned about the endurance of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: When making the switch to solar power, it’s essential to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project timeline.
- Contract: When reading 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 if the company goes out of business.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
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 Hollins, VA Solar Cost FAQs
What is the average cost of installing solar panels in Hollins?
The average cost of solar panels in Hollins is about $17,950 for a 5-kW system and $35,900 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Hollins?
You can’t get solar panels for free in Hollins. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
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 $488.99 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.