Solar panels virginia cost

How much do solar panels cost in Virginia?

As of August 2024, the average solar panel system costs $2.92/W including installation in Virginia. For a 5 kW installation, this comes out to about $14,613 before incentives, though prices range from $12,421 to $16,805. After the federal tax credit, the average price drops by 30%. You'll probably pay even less than what we show here.

How much does a 5 kW solar system cost in Virginia?

While a 5 kW system will only cost you $14,613 in Virginia, doubling the system size effectively doubles the price, so you'll pay about twice that for a 10 kW system. The higher the price tag, though, the more you'll get back as a credit towards your federal tax bill.

Does Virginia pay taxes on solar installation?

The cost of installation of renewable energy systems in Virginia is supported by the federal solar investment tax credit. The amount of this tax credit is currently 30% of the value of the solar system and it is claimed on your taxes in the year after installation.

How much do solar panels cost?

This is lower than the average price of residential solar power systems across the United States which is currently $3.00 per watt. The size of a solar panel system also plays a role in how much the installation will cost. Larger solar installations will typically have a lower cost per watt, because the panels can be purchased at a ‘bulk price’.

How much money can a solar system save in Virginia?

With the lifetime of a solar system at 25 years, the estimated lifetime savings of going solar in Virginia is about $30,832 based on the average system size and electricity data from the Energy Information Administration (EIA). To clarify, that’s over and above the energy savings your solar panels will generate to pay themselves off.

How many solar installers are there in Virginia?

There are more than 70 solar installers based in Virginia and even more that service the state. The best solar panel brand for you is the one that fits your budget and provides the efficiency you need to cover your home’s energy consumption.