Is $25,300 to install a solar panel system a fair price?
Project Details
I am in Central Virginia and considering installing solar to make the most of the available tax credits before they expire. My average annual electricity usage is 15.5 MWh, and my average monthly electricity bill is currently $175, projected to go down to $56 after the install. My roof was installed seven years ago, and I am hoping that the panel life and the roof life will coincide. I hope to pay off the financing in 2 years. I am also looking at this as an investment and a way to buffer against speculated increased utility costs due to data centers. We let the AC run pretty much all day, and laundry and everything is done during the day hours. We have a gas furnace for heating.
Quote Details
This quote is for the installation of a solar panel system with the following specifications and inclusions: - System Size: 8.74 kW - Guaranteed Production: 10,514 kWh - Production Rate: 69% of average annual usage - Panels: REC 19 panels - Converter: Enphase converter - Financing Option: $145 monthly payment for 25 years at 7.95% interest (assuming tax credits are used to lower borrowing) - Net Metering: Available in Virginia
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More Details
Category
Solar
Price
$25,300
Quote Date
July 30, 2025
Location
Virginia
# of Panels
19
System Size (kW)
8.74
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