The cost will depend on the number of panels installed and whether your site is suitable for rooftop solar or ground-mounted solar. Ground-mounted systems typically cost more. On average, rooftop solar panels cost between $10,000 – $25,000.

For our spring 2018 campaign which runs from April 2, 2018 through May 31, 2018, we’ve negotiated pricing options to give homeowners more flexibility and choice. Your solar sales engineer can help you make the best choice depending on your ownership goals.
 

Configuration Options

There are two different types of panels to choose from:

  • 1Base Panels (foreign made)
    • 10 yr warranty on install and workmanship 
    • 25 years on power at 80% or better
  • 2Standard Panels (Buy America)
    • 10 yr warranty on install and workmanship
    • 25 yr on power at 80% or better

Additionally, you have the option of standard inverters or micro-inverters. Talk to your solar sales engineer to determine which is the best choice for you!

Pricing Information

A very small array of 3000 watts (3kW) – about 10 panels – should produce some $420 worth of electricity a year at today’s energy prices. At $2.60 per watt, the installation cost is $5,460 after the federal tax credit. If your current electric bill averages $120/mo, a 6000W (6kW) array should cover about 60% of that on a good site. A good site is critical. You want the array to face somewhat southerly and to be in full sun. Roofs can be great. Yards, fields, and parking lots work too. See more details below.

Here is the per watt pricing information for the 2018 Solarize Piedmont campaign:

Type of System Roof Mount Ground Mount

Size of System

3-5kW

&5-10kW

>10kW

3-5kW

&5-10kW

>10kW

Standard Panel

$2.60 $2.50 $2.45 $3.00 $2.95

Standard + Microinverters

$2.65 $2.55 $2.50 $3.05 $3.00

Buy America Compliant Panel

$2.75 $2.65 $2.60 $3.15 $3.10

Buy America Compliant + Microinverters

$2.80 $2.70 $2.65 $3.20 $3.15


In addition to the Solarize discount, Solarize Piedmont installers will help participants access a 30% federal tax credit, affordable financing, and navigate the Solar Renewable Energy Credit (SREC) market.

All of this combined may make it possible for participants to finance their installations with monthly payments similar (or even less) than regular utility payments. Below is a table demonstrating an approximate pricing structure. It includes common system sizes and sample financing breakdowns.

It is important to note that individual system performance will vary and, depending on your home’s energy use, may only offset a percentage of your home’s electricity use.

System Size by Kilowatt (kW) for Base Panels 6 kW
Standard Panels
6 kW
Buy America Compliant Panels
Solarize Rate per Watt, Standard Panels, Roof Mounted $2.50 $2.65
Cost Before Federal Tax Credit $15,000 $15,900
Total Cost After Federal Tax Credit (30%) $10,500 $11,130
Monthly Loan Payment* (Financing cost after tax credit over 15 yrs.) $89 $94
Estimated Monthly Savings** (Electricity + SRECs) $69 $69
Estimated Net Monthly Cost*** (Financing cost after tax credit over 15 yrs.) $20 $25
Estimated Net Monthly Savings in Year 16**** (after loan is repaid) $92 $92

Numbers are rounded
*Financing cost after tax credit with 15 yr loan at 6% interest
**Value of energy created plus $0 SRECs with 2% annual retail electricity inflation
***(Estimated monthly savings – Monthly Loan Payment)
****Assuming loan is paid-in-full and net metering laws stay constant

More on the Incentives

  • Federal Tax Credit (ITC) – Up to 30% of your solar installation. More info
  • USDA REAP (Rural Energy for America Program) Grant – Up to 25% of cost for commercial and agricultural projects. www.rd.usda.gov
  • Modified Accelerated Cost-Recovery System (MACRS) – Businesses may recover investments in certain property through depreciation deductions. More Info
  • Database of State Incentives for Renewables and Efficiency (DSIRE) – www.dsireusa.org


Solar Energy Equipment Tax Exemption (Code of VA § 58.1-3661)

  • Potential Applicants: Business, Industry, and Residents. This statute allows any county, city, or town to exempt or partially exempt solar energy equipment from local property taxes. Eligible technologies include passive solar space heat, active solar water heat, active solar space heat, solar thermal electricity, and photovoltaics. Certified solar energy items are defined as any “property, including real and personal property, equipment, facilities, and devices which use solar energy that would otherwise require a conventional source of energy.”Localities offering exemptions: Albemarle, Alexandria, Charlottesville, Chesterfield, Dinwiddie, Fairfax County, Falls Church, Hampton, Hanover, Henrico, Isle of Wight, King and Queen, Loudoun, Lynchburg, Prince William, Pulaski, Rappahannock, Roanoke, Spotsylvania, and Winchester Financing

Your solar installer can walk you through different financing scenarios and options.

(NOTE: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.)