The cost of solar panels in VA can depend on several variables. Even the type of panel you go with will matter when it comes to the generation of usable energy for your home. For those who want to retrofit their home with solar harnessing hardware, you’ll want to be well-researched before purchasing and installation.
On average, a residential solar system is about 5 kW and costs between $15,000—$20,000. However, this number doesn’t factor in any state or federal tax credits, rebates, or other incentives that may be available to you. A typical payback period for a residential system is between six and nine years.
Should you decide to go solar, you’ll get to know the hardware required for your home’s system. The items below are some of the basic equipment needed for your solar energy system.
- Photovoltaic panels (either monocrystalline and polycrystalline)
- Solar panel inverter
- Solar cell or bank
Photovoltaic panels come in two types: monocrystalline and polycrystalline. These crystals are the reason for the photon harvest from the sun. The differences in energy generating efficiency will vary according to silicon crystal type. We’ve narrowed down the similarities and differences below:
- Pure silicon crystals
- Conversion efficiency: 15-20%
- Lifespan: About 40 years
- Recyclable: Yes
- Cost: Generally pricier than polycrystalline panels
- Silicon fragments that form single unit after melting
- Conversion efficiency: 13-16%
- Lifespan: About 35 years
- Recyclable: Yes
- Cost: Generally less expensive than monocrystalline panels
As you learn more about going solar, you will see there are a variety of ways to acquire your home’s new solar panel roof. You can lease, lease-to-own, or outright purchase your solar system. By leasing your solar system, you may save money upfront, but you’ll miss out on the 26% federal solar tax credit, as well as face possible lease payment increases. Owning your system can be more costly upfront, but the panels can help increase the value of your home and you’ll be able to take advantage of the federal solar tax credit.