Solar Panels Cost $10k-$20k in Chesapeake, VA | August, 2024

Electricity Costs in Chesapeake, VA & What that Means for Your Solar Panel Pricing

In Chesapeake, the typical electric bill is $135.92 per month, with an average consumption of 989 kWh. These statistics also reflects the energy consumption patterns of smaller residences, such as apartments.

In August 2024, the electricity rate in Chesapeake, VA is 13.74¢ per kWh.

If you’re a typical electricity user in Chesapeake, you may require a solar panel system sized at 8 kW or larger to meet your electricity needs. Presently, an 8 kW solar panel system will initially set you back around $29,200, but the 30% tax credit lowers the cost to $20,440.

Are solar panels worth it in Virginia?

If you intend to reside in your home beyond the payback period of your solar system, solar panels are an clear choice in Chesapeake. With a 5 kW solar system in Chesapeake, VA, the average savings over a 20 period is $19,845.8, with break even usually occurring at 8 years.

The cost of not having solar panels in Chesapeake, VA

Not installing solar panels or any other backup energy system results in missing the earlier mentioned savings and full dependence on your electric utility for electricity. The news has recently proven that relying entirely on your utility provider isn't always ideal.

In recent years, Chesapeake has seen an average of 1.07 utility outages per customer each year. The average length of an outage is 78.4 minutes. However, during significant events such as aging infrastructure, earthquakes or planned maintenance, this duration can grow considerably.

A solar panel system, with or without a backup battery, could reduce the effects of future outages you might experience.

What impacts the cost of solar panels in Chesapeake, VA?

Your Energy Needs - Despite the higher initial expense, the cost per watt drops when using larger solar panel systems. For most homeowners, setting up a system that can generate enough power to eliminate their entire electric bill is advantageous, providing significant savings.

Make & Model - Solar panels, like many other products, are offered in a variety of makes and models. As the contractor might have particular system preferences, it's important to select a highly rated company. Choosing superior quality materials generally ensures a more satisfying long-term experience for the buyer.

Solar Panel Type - Monocrystalline panels are widely recognized as the standard in the industry, and for good cause. These panels are more expensive but offer a higher energy efficiency. Many installers in the industry utilize panels crafted of this material.

Your Property - Uneven ground, trees, or additional challenges can increase the difficulty of the installation. The majority of solar installers today are able to utilize satellite imagery to evaluate your home and factor in these aspects in the first cost estimate.

Labor Rates - Various wages are paid to employees by various companies, and these costs are transferred to the consumers. Higher wages often correlate with better reviews for companies' work and customer service.

Permitting & Interconnection - Permitting and utility interconnection fees change locally and will impact your installation cost. That said, reputable local installers will be able to incorporate these numbers into your initial quotes so there are no surprises.