Solar Panel Cost Guide in Wakefield, VA (2024 Update)
- Wakefield Solar Installation Cost: $20,263
- 25-Year Savings: $20,682
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Wakefield
Find out what the average cost of installing solar panels is in Wakefield.
In Wakefield, solar panels cost about 4 per watt on average.Because a 8.1-kW system is needed to cover the energy needs of a typical home in Wakefield, the average price of going solar will be about $20,263 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Wakefield see about $17,000 in savings on utility bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Wakefield
| Year | Return on Investment |
|---|---|
| 1 years | $-18,664 |
| 3 years | $-15,466 |
| 5 years | $-12,268 |
| 7 years | $-9,070 |
| 9 years | $-5,872 |
| 11 years | $-2,674 |
| 13 years | $524 |
| 15 years | $3,722 |
| 17 years | $6,919 |
| 19 years | $10,117 |
| 21 years | $13,315 |
| 23 years | $16,513 |
| 25 years | $19,711 |
Top Solar Installers in Wakefield
Installing solar panels by yourself can be a stressful project, which is why using a solar installer is a good option for many homeowners. Solar warranties and repairs are ordinarily included in the cost of installation when you opt for a solar company too, which can save you more money over time.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Wakefield
Factors that Affect Solar Panel Costs in Wakefield
The cost of installing a solar system in Wakefield can vary by more than $10,000 from home to home. Your actual cost is determined by 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 energy system in Wakefield, one of the most crucial 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 determine by looking at past power bills. Your total cost can increase by around $3,590 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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. In addition, extra products, like solar batteries, can bump up your total well above the Wakefield average.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid option because they cut back your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Wakefield, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Some companies only sell high-efficiency and high-priced 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 decide on the company that offers the products, warranties and services you want and also fit into 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 | $11,259 | 14.6 years |
| 8 kW | $3.66 | $20,506 | $15,414 | 14.3 years |
| 10 kW | $3.59 | $25,130 | $19,770 | 14.0 years |
| 12 kW | $3.52 | $29,553 | $24,327 | 13.7 years |
| 14 kW | $3.45 | $33,775 | $29,085 | 13.4 years |
| 16 kW | $3.37 | $37,796 | $34,045 | 13.2 years |
| 18 kW | $3.30 | $41,615 | $39,205 | 12.9 years |
| 20 kW | $3.23 | $45,234 | $44,566 | 12.6 years |
How to Save on Solar Panels
There are many companies to choose from in Wakefield, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely provide quality solar panel installation and expertise.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
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 Wakefield, VA Solar Cost FAQs
What is the average cost of installing solar panels in Wakefield?
This is a tough question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Wakefield?
A solar panel system isn’t free in Wakefield, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Wakefield is currently $203,383, so you could be looking at a value of about $8,339 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Wakefield is a rewarding investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.