Solar Panel Cost Guide in Economy, PA (2024 Update)
- Economy Solar Installation Cost: $17,357
- 25-Year Savings: $15,195
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Economy
Let’s have a look at the average cost of solar panels in Economy.
The average cost of a solar system in Economy is 4 per watt.To account for the typical energy needs of the average home in Economy, most homeowners require a 7.0-kilowatt system. Using the figure above, a solar installation costs around $17,357, or $24,821 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Economy can save around $15,000 on their energy bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Economy
| Year | Return on Investment |
|---|---|
| 1 years | $-15,720 |
| 3 years | $-12,446 |
| 5 years | $-9,172 |
| 7 years | $-5,899 |
| 9 years | $-2,625 |
| 11 years | $649 |
| 13 years | $3,923 |
| 15 years | $7,197 |
| 17 years | $10,471 |
| 19 years | $13,744 |
| 21 years | $17,018 |
| 23 years | $20,292 |
| 25 years | $23,566 |
Top Solar Installers in Economy
Trying to install solar panels yourself can be a stressful task, which is why getting a solar installer is a good option for many homeowners. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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 Economy
Factors that Affect Solar Panel Costs in Economy
Although the average cost of a solar system in Economy is $17,357, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Economy, one of the most important 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 gauge by looking at past energy bills. Your overall cost can increase by around $3,550 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Economy average.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Economy, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $8,256 | 16.3 years |
| 8 kW | $3.62 | $20,278 | $11,406 | 16.0 years |
| 10 kW | $3.55 | $24,850 | $14,754 | 15.7 years |
| 12 kW | $3.48 | $29,224 | $18,301 | 15.4 years |
| 14 kW | $3.41 | $33,398 | $22,047 | 15.1 years |
| 16 kW | $3.34 | $37,374 | $25,992 | 14.7 years |
| 18 kW | $3.27 | $41,152 | $30,136 | 14.4 years |
| 20 kW | $3.19 | $44,730 | $34,478 | 14.1 years |
How to Save on Solar Panels
There are a large number of companies available in Economy, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The brand of solar panel you need to install plays a part in which installer you should choose, since different companies offer different panels.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
Best National Provider
SunPower
- 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
- 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 Economy, PA Solar Cost FAQs
What is the average cost of installing solar panels in Economy?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Economy?
You can’t get solar panels for free in Economy. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Economy have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.