Solar Panels Cost $10k-$20k in Norfolk, VA | September, 2024

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

On average, Norfolk residents use 1,010 kWh each month, and the electric bill is $139.13. Bear in mind that this figure incorporates data from both apartments and smaller homes with reduced energy requirements.

In September 2024, the electricity rate in Norfolk, VA is on average 13.77¢ per kWh.

Average electricity users in Norfolk may want a solar panel system with a generation capacity of 8 kW or more to satisfy their full electricity usage needs. At the moment, an 8 kW solar installation will cost you roughly $28,960upfront, but thanks to the 30% federal tax credit, you receive 30% back, reducing the total to $20,272.

Are solar panels worth it in Virginia?

For homeowners in Norfolk planning to remain in their homes after the payback period for solar panels, solar energy is a sensible choice. In Norfolk, VA, a 5 kW solar system installation might save you $20,721.2 on average over 20 years, with a typical break even point of 8 years.

The cost of not having solar panels in Norfolk, VA

Besides missing out on the aforementioned savings, not having solar panels or a different backup energy source makes you fully reliant on your electric utility for electricity. The news has provided several examples demonstrating that full reliance on your utility is not always ideal.

The utilities in Norfolk have averaged about 1.07 outages per customer per year in recent years. Usually, outages have an average duration of 78.4 minutes. However, during critical events like planned maintenance, grid management errors or winter storms, these times can extend dramatically.

A solar panel system, with or without a backup battery or not, could reduce the impact of future power outages you might face.

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

Your Energy Needs - Even though larger solar panel systems have a larger initial cost, the cost per watt drops. For most individuals, setting up a system that can produce enough power to reduce their entire electric bill is useful, providing significant savings.

Make & Model - Similar to many other products, there are a variety of makes and models of solar panels on the market. The potential brand preferences of your installer mean that it is it's even more necessary to pick a highly rated company. Choosing superior quality materials generally yields a more favorable long-term experience for the buyer.

Solar Panel Type - For good reasons, monocrystalline panels have emerged as the standard in the industry. Even though they are costlier, they generate additional energy. The majority of installers use panels crafted from this material.

Your Property - Each property and home has its own characteristics. Factors like irregular terrain, trees, or other challenges can make the installation more challenging. Nowadays, solar installers commonly leverage satellite images to evaluate your home and incorporate these considerations into the preliminary cost estimate.

Labor Rates - Companies offer varying pay rates to their employees, which are then passed on to the prices consumers pay. Businesses that invest in higher wages often see higher reviews for their services and customer service.

Permitting & Interconnection - Regional differences in permitting and utility interconnection fees will affect your installation cost. Reliable local installers will incorporate these figures into your preliminary estimates to avoid any surprises.