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🏡 Is Solar Worth It in Chesapeake, Va ?
✅ Absolutely! Investing in solar panels in Chesapeake, Virginia, can be a financially sound decision, offering both long-term savings and environmental benefits. Here's an overview of factors to consider:
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- Chesapeake receives about 213 days of direct sunlight annually, making it well-suited for solar energy production.This ample sunshine enhances the efficiency and effectiveness of solar panel installations in the area.
- Average Peak Sun Hours: 5.5 – 6.0 hours/day, ensuring high solar panel efficiency.
Cost of Solar Panels in Chesapeake
As of February 2025, the average cost to install solar panels in Chesapeake is approximately $3.54 per watt. This translates to about $17,700 for a 5-kilowatt (kW) system before incentives. After applying the 30% federal tax credit, the net cost would be around $12,390
Financial Benefits and Payback Period
With an average monthly electric bill of $133.43 in Chesapeake, a 5 kW solar system can significantly offset your electricity costs. The estimated payback period for such a system is approximately 8 years, with net savings over 20 years projected to be around $14,323.
- Homeowners in Chesapeake can benefit from the Federal Solar Investment Tax Credit (ITC), which provides a 30% tax credit for installing a solar photovoltaic (PV) system. Additionally, Virginia offers property tax exemptions for solar equipment, depending on local regulations, further reducing the overall cost of going solar.
Considering the available sunlight, financial incentives, and potential long-term savings, installing solar panels in Chesapeake, VA, is generally a worthwhile investment. However, individual circumstances, such as specific energy consumption patterns and roof suitability, should be evaluated to determine the exact benefits for your situation.
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