Solar Panel Cost Guide in Lower Merion, PA (2024 Update)
- Lower Merion 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 Lower Merion
Find out what the average cost of solar panel installation is in Lower Merion.
Although the national average of solar panels is $2.66 per watt, solar panels in Lower Merion typically cost about 4.The average Lower Merion homeowner needs a 6.6-kilowatt system, which would cost about $16,365 with the federal tax credit, or $23,402 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you will look different based on your specific situation and what company you go with.Despite the significant upfront cost, the average Lower Merion homeowner can save around $15,000 on their power bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lower Merion
| 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 Lower Merion
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar company can make your switch to solar power much easier. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be right for your home.
If you’d like to make the switch to solar but still aren’t sure which solar system installer to go with, here are our suggestions for providers near you:
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 Lower Merion
Factors that Affect Solar Panel Costs in Lower Merion
The cost of installing a solar system in Lower Merion can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,550. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Lower Merion average.
Solar Financing Terms
Many homeowners find the average cost of solar in Lower Merion to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.Although solar loans make switching to solar energy more accessible for Lower Merion homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installer you select will affect your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Lower Merion know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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
There are a lot of companies available in Lower Merion, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar company, be sure to look it over completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: When making the switch to solar, it’s necessary to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project completion timeline.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
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 Lower Merion, PA Solar Cost FAQs
How much does it cost to install solar panels in Lower Merion?
The average cost of solar panels in Lower Merion 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Lower Merion?
A solar panel system isn’t free in Lower Merion, 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.
Does Lower Merion 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 long do solar panels last in Lower Merion?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.