Solar Panel Cost Guide in Cheltenham, PA (2024 Update)
- Cheltenham Solar Installation Cost: $16,365
- 25-Year Savings: $14,891
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Cheltenham
Find out what the average cost of solar panels are in Cheltenham.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cheltenham, the average cost of a solar system is 4 per watt.Since a 6.6-kW system is needed to cover the energy needs of a typical home in Cheltenham, the average price of going solar will be about $16,365 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Cheltenham homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Despite the significant initial cost, the average Cheltenham homeowner can save around $15,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a top solar installer in Cheltenham for a personalized estimate.
Solar savings over time in Cheltenham
| Year | Return on Investment |
|---|---|
| 1 years | $-15,074 |
| 3 years | $-12,494 |
| 5 years | $-9,913 |
| 7 years | $-7,333 |
| 9 years | $-4,752 |
| 11 years | $-2,172 |
| 13 years | $409 |
| 15 years | $2,990 |
| 17 years | $5,570 |
| 19 years | $8,151 |
| 21 years | $10,731 |
| 23 years | $13,312 |
| 25 years | $15,892 |
Top Solar Installers in Cheltenham
Many homeowners opt for a solar panel company since installing solar panels by yourself can be a labor-intensive endeavor. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 Cheltenham
Factors that Affect Solar Panel Costs in Cheltenham
For many Cheltenham homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Cheltenham, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,550. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Cheltenham, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Cheltenham have solar loans, which reduce your upfront costs of installing solar.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Cheltenham, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $8,771 | 16.0 years |
| 8 kW | $3.62 | $20,278 | $12,092 | 15.7 years |
| 10 kW | $3.55 | $24,850 | $15,612 | 15.4 years |
| 12 kW | $3.48 | $29,224 | $19,330 | 15.0 years |
| 14 kW | $3.41 | $33,398 | $23,248 | 14.7 years |
| 16 kW | $3.34 | $37,374 | $27,364 | 14.4 years |
| 18 kW | $3.27 | $41,152 | $31,679 | 14.1 years |
| 20 kW | $3.19 | $44,730 | $36,193 | 13.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Cheltenham, PA Solar Cost FAQs
How much does it cost to install solar panels in Cheltenham?
The average cost of solar panels in Cheltenham is about $17,750 for a 5-kW system and $35,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Cheltenham?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
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 Cheltenham is currently $365,753, which means you can expect a value of about $14,996 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Cheltenham is a fruitful investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.