Solar Panel Cost Guide in Laurel, VA (2024 Update)

  • Laurel Solar Installation Cost: $19,553
  • 25-Year Savings: $21,226
  • Payback Period: 13.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Laurel

We go over average solar pricing in Laurel.

In Laurel, solar panels cost about 4 per watt on average.Since a 7.8-kW system is needed to cover the energy usage of a typical home in Laurel, the average price of going solar will be about $19,553 after claiming the federal solar tax credit of 0.

Keep in mind that the figures above are only estimates based on the average energy use of Laurel homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Even with the significant upfront cost, the average Laurel homeowner can save about $18,000 on their energy bills over 20 years, which is one of the advantages of solar.

You can click the button below to get connected with a pre-vetted solar company in Laurel for a quote for your home.

Solar savings over time in Laurel

Year Return on Investment
1 years $-17,954
3 years $-14,756
5 years $-11,558
7 years $-8,361
9 years $-5,163
11 years $-1,965
13 years $1,233
15 years $4,431
17 years $7,629
19 years $10,827
21 years $14,025
23 years $17,223
25 years $20,420

Top Solar Installers in Laurel

Although you can install solar panels on your own, it takes extra time and expertise. That's why almost all homeowners choose to go with a solar panel installer. Companies can also provide access to quality options of the best solar panels and help you pick which one will be right for you.

Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • 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 Laurel

Factors that Affect Solar Panel Costs in Laurel

There are many criteria that can influence your 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 Laurel, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by around $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 choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Laurel average.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Laurel homeowners choose to finance their solar panel systems to make paying for solar more affordable.While solar loans make adopting solar energy more accessible for Laurel homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar installer you choose will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to 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 $12,236 14.0 years
8 kW $3.66 $20,506 $16,717 13.8 years
10 kW $3.59 $25,130 $21,399 13.5 years
12 kW $3.52 $29,553 $26,282 13.2 years
14 kW $3.45 $33,775 $31,366 13.0 years
16 kW $3.37 $37,796 $36,651 12.7 years
18 kW $3.30 $41,615 $42,137 12.4 years
20 kW $3.23 $45,234 $47,825 12.2 years

How to Save on Solar Panels

The company that does your 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 a tough decision, we have some tips to help you, such as:

  • Contract: Before you sign a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
  • Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Laurel, VA Solar Cost FAQs

How much does it cost to install solar panels in Laurel?

The average cost of solar panels in Laurel 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Laurel?

Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.

How will having solar panels impact my property value?

Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.

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