Solar Panel Cost Guide in Martinsville, VA (2025 Update)
- Martinsville Solar Installation Cost: $19,280
- 25-Year Savings: $22,185
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Martinsville
Let’s take a look at the average cost of solar panels in Martinsville.
In Martinsville, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Martinsville, most homeowners require a 7.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $19,280, or $27,570 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and the cost of going solar for you may differ based on factors unique to your home and what company you go with.With average savings of about $18,000 on energy bills over 20 years, many homeowners in Martinsville find going solar can be quite rewarding.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Martinsville
| Year | Return on Investment |
|---|---|
| 1 years | $-17,860 |
| 3 years | $-15,021 |
| 5 years | $-12,182 |
| 7 years | $-9,342 |
| 9 years | $-6,503 |
| 11 years | $-3,663 |
| 13 years | $-824 |
| 15 years | $2,015 |
| 17 years | $4,855 |
| 19 years | $7,694 |
| 21 years | $10,534 |
| 23 years | $13,373 |
| 25 years | $16,212 |
Top Solar Installers in Martinsville
Many homeowners choose to use a solar panel installer since figuring out how to install solar panels on your own can be a labor-intensive endeavor. The expertise that solar companies offer can be valuable as well, especially if you don’t quite know what kind of solar equipment you need.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Martinsville:
See all of the solar companies in Martinsville
Factors that Affect Solar Panel Costs in Martinsville
There are a number of criteria that can affect your solar system 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
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 crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The type of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Martinsville to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.However, the interest on solar loans also adds to your all-in costs, so it’s vital to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Martinsville, you’ll have plenty 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 compete with them by offering sales and discounts. While the smaller companies might not have access to 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 | $13,219 | 13.6 years |
| 8 kW | $3.66 | $20,506 | $18,027 | 13.3 years |
| 10 kW | $3.59 | $25,130 | $23,036 | 13.0 years |
| 12 kW | $3.52 | $29,553 | $28,247 | 12.8 years |
| 14 kW | $3.45 | $33,775 | $33,658 | 12.5 years |
| 16 kW | $3.37 | $37,796 | $39,271 | 12.3 years |
| 18 kW | $3.30 | $41,615 | $45,084 | 12.0 years |
| 20 kW | $3.23 | $45,234 | $51,099 | 11.7 years |
How to Save on Solar Panels
There are numerous companies available in Martinsville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Contract: Before you sign a contract with a solar installer, be sure to read it through completely so you understand the terms. Also, ask questions if you’re unsure 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.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
EcoWatch's Martinsville, VA Solar Cost FAQs
How much does it cost to install solar panels in Martinsville?
The average cost of solar panels in Martinsville 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 certain factors such as 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 Martinsville?
You can’t get solar panels for free in Martinsville. 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 prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $963.33 per year.
How long do solar panels last in Martinsville?
Although 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 keep using 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.