Solar Panel Cost Guide in University Center, VA (2024 Update)
- University Center Solar Installation Cost: $20,419
- 25-Year Savings: $20,562
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in University Center
We break down average solar pricing in University Center.
Currently, the national average cost of solar panels is $2.66 per watt. However, in University Center, the typical cost of a solar system is 4 per watt.Since a 8.1-kW system is needed to cover the energy usage of a typical home in University Center, the average price of going solar will be about $20,419 after claiming the federal solar tax credit of 0.
These figures are only averages, and your own solar costs may vary based on factors unique to your home and what company you go with.With average savings of about $17,000 on utility bills over 20 years, many homeowners in University Center find installing solar panels has a decent ROI.
To receive a free quote from a vetted solar installation company in University Center, you can click the button below.
Solar savings over time in University Center
| Year | Return on Investment |
|---|---|
| 1 years | $-18,820 |
| 3 years | $-15,622 |
| 5 years | $-12,424 |
| 7 years | $-9,226 |
| 9 years | $-6,029 |
| 11 years | $-2,831 |
| 13 years | $367 |
| 15 years | $3,565 |
| 17 years | $6,763 |
| 19 years | $9,961 |
| 21 years | $13,159 |
| 23 years | $16,357 |
| 25 years | $19,554 |
Top Solar Installers in University Center
Many homeowners opt for a solar installer since trying to put up solar panels on your own can be a labor-intensive endeavor. The expertise that solar installers provide can be valuable as well, especially if you don’t quite know what type of solar equipment you need.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 University Center
Factors that Affect Solar Panel Costs in University Center
The cost of installing a solar system in University Center can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in University Center, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $3,590 for each additional kilowatt you need.The brand of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond 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 researching a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in University Center to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $11,052 | 14.7 years |
| 8 kW | $3.66 | $20,506 | $15,139 | 14.4 years |
| 10 kW | $3.59 | $25,130 | $19,426 | 14.1 years |
| 12 kW | $3.52 | $29,553 | $23,914 | 13.8 years |
| 14 kW | $3.45 | $33,775 | $28,604 | 13.5 years |
| 16 kW | $3.37 | $37,796 | $33,494 | 13.3 years |
| 18 kW | $3.30 | $41,615 | $38,585 | 13.0 years |
| 20 kW | $3.23 | $45,234 | $43,878 | 12.7 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. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: If you’re concerned about the durability of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Installation Process: Get details 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.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, completion timeline incentives and warranties.
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 University Center, VA Solar Cost FAQs
What is the average cost of installing solar panels in University Center?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $17,950 for a 5-kW system and $35,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in University Center?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to 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 savings from going solar.
Do solar panels increase your home value?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t choose 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 a solar system."
How long do solar panels last in University Center?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.