Solar Panel Cost Guide in Canaan, PA (2024 Update)

  • Canaan Solar Installation Cost: $17,175
  • 25-Year Savings: $11,974
  • Payback Period: 17.7 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Canaan

Let’s take a look at the average cost of solar in Canaan.

In Canaan, solar panels cost about 4 per watt on average.Because a 6.9-kW system is needed to cover the energy consumption of a typical home in Canaan, the average price of going solar will be about $17,175 after claiming the federal solar tax credit of 0.

The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.Many homeowners find going solar is a solid investment. The average homeowner in Canaan can save around $13,000 on their energy bills over 20 years.

To calculate your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Canaan

Year Return on Investment
1 years $-15,829
3 years $-13,138
5 years $-10,447
7 years $-7,756
9 years $-5,065
11 years $-2,374
13 years $318
15 years $3,009
17 years $5,700
19 years $8,391
21 years $11,082
23 years $13,774
25 years $16,465

Top Solar Installers in Canaan

Although you can install solar panels yourself, it involves extra time and knowledge. Because of that, the majority of homeowners choose to hire a solar panel installer. Another good thing about choosing a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.

If you’d like to go solar but still aren’t sure which solar company to go with, here are our recommendations for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Canaan

Factors that Affect Solar Panel Costs in Canaan

For many Canaan homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Canaan, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the cost of a solar system in Canaan, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can determine by looking at past energy bills. Your overall cost can increase by about $3,550 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Canaan to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time because of interest.However, the interest on solar loans also increases your overall costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

The last major cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Canaan, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.69 $15,506 $5,598 18.4 years
8 kW $3.62 $20,278 $7,862 18.0 years
10 kW $3.55 $24,850 $10,324 17.7 years
12 kW $3.48 $29,224 $12,985 17.3 years
14 kW $3.41 $33,398 $15,845 17.0 years
16 kW $3.34 $37,374 $18,904 16.6 years
18 kW $3.27 $41,152 $22,162 16.2 years
20 kW $3.19 $44,730 $25,618 15.9 years

How to Save on Solar Panels

The solar panel company you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:

  • Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
  • Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project completion timeline.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Canaan, PA Solar Cost FAQs

How much does it cost to install solar panels in Canaan?

This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,750 for a 5-kW system and $35,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Are solar panels free in Canaan?

A solar panel system isn’t free in Canaan, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

Do solar panels increase the value of your home?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Canaan is currently $243,020, which means you could be looking at a value of about $9,964 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Canaan is a rewarding investment.

How long do solar panels last in Canaan?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

Follow us