Solar Panel Cost Guide in Hopewell, VA (2024 Update)
- Hopewell Solar Installation Cost: $19,457
- 25-Year Savings: $21,046
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Hopewell
Let’s take a look at the average cost of solar panels in Hopewell.
The average cost of a solar panel system in Hopewell is 4 per watt.The average solar panel system size in Hopewell is around 7.7 kilowatts, meaning a cost of about $19,457 for a solar installation, or $27,824 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will most likely vary based on factors unique to your home and what company you choose to go with.Many homeowners find going solar is a sound investment. The average homeowner in Hopewell can save about $18,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Hopewell that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hopewell
| Year | Return on Investment |
|---|---|
| 1 years | $-17,858 |
| 3 years | $-14,660 |
| 5 years | $-11,462 |
| 7 years | $-8,264 |
| 9 years | $-5,066 |
| 11 years | $-1,869 |
| 13 years | $1,329 |
| 15 years | $4,527 |
| 17 years | $7,725 |
| 19 years | $10,923 |
| 21 years | $14,121 |
| 23 years | $17,319 |
| 25 years | $20,517 |
Top Solar Installers in Hopewell
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring an installer can make converting to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance in the long run.
If you're searching for a solar installer in Hopewell, the EcoWatch team has put together 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 Hopewell
Factors that Affect Solar Panel Costs in Hopewell
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Hopewell: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 in the long run on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Hopewell average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Hopewell, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.Though solar loans make going solar more accessible for Hopewell homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Hopewell, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $12,178 | 14.1 years |
| 8 kW | $3.66 | $20,506 | $16,640 | 13.8 years |
| 10 kW | $3.59 | $25,130 | $21,303 | 13.5 years |
| 12 kW | $3.52 | $29,553 | $26,166 | 13.3 years |
| 14 kW | $3.45 | $33,775 | $31,231 | 13.0 years |
| 16 kW | $3.37 | $37,796 | $36,497 | 12.7 years |
| 18 kW | $3.30 | $41,615 | $41,963 | 12.4 years |
| 20 kW | $3.23 | $45,234 | $47,631 | 12.2 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose significantly impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Hopewell, VA Solar Cost FAQs
What is the average cost of installing solar panels in Hopewell?
The average cost of solar panels in Hopewell 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 such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.