Solar Panel Cost Guide in Richmond, PA (2024 Update)
- Richmond Solar Installation Cost: $16,528
- 25-Year Savings: $13,468
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Richmond
We go over average solar pricing in Richmond.
The national average cost of solar panels is $2.66 per watt, but in Richmond it’s 4 per watt.The average Richmond homeowner needs a 6.7-kilowatt system, which would cost about $16,528 with the federal tax credit, or $23,635 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Richmond homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $14,000 over 20 years on electricity bills.
You can click the button below to get connected with a top solar installer in Richmond for a quote for your home.
Solar savings over time in Richmond
| Year | Return on Investment |
|---|---|
| 1 years | $-15,285 |
| 3 years | $-12,799 |
| 5 years | $-10,313 |
| 7 years | $-7,827 |
| 9 years | $-5,341 |
| 11 years | $-2,855 |
| 13 years | $-369 |
| 15 years | $2,117 |
| 17 years | $4,603 |
| 19 years | $7,089 |
| 21 years | $9,575 |
| 23 years | $12,061 |
| 25 years | $14,547 |
Top Solar Installers in Richmond
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring an installer can make your swap to solar power much easier. The payback period on an investment in solar panels will vary depending on factors like your location and energy needs, but working with a solar company can shorten that period. Your provider will be able to help you apply for incentives available in your area.
If you're on the hunt for a solar company in Richmond, the EcoWatch team has put together a list of our top suggestions here:
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 Richmond
Factors that Affect Solar Panel Costs in Richmond
There are many factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of a solar energy system in Richmond, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $3,550 for each additional kilowatt you need.The type of solar equipment you choose can increase or decrease your cost 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 electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Richmond average.
Solar Financing Terms
Many homeowners find the average cost of solar in Richmond to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.Although solar loans make adopting solar energy more accessible for Richmond homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies operating in Richmond, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by promoting 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 | $7,353 | 17.0 years |
| 8 kW | $3.62 | $20,278 | $10,202 | 16.6 years |
| 10 kW | $3.55 | $24,850 | $13,249 | 16.3 years |
| 12 kW | $3.48 | $29,224 | $16,495 | 16.0 years |
| 14 kW | $3.41 | $33,398 | $19,940 | 15.7 years |
| 16 kW | $3.34 | $37,374 | $23,584 | 15.3 years |
| 18 kW | $3.27 | $41,152 | $27,427 | 15.0 years |
| 20 kW | $3.19 | $44,730 | $31,468 | 14.7 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: If you’re concerned about the durability of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
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 Richmond, PA Solar Cost FAQs
How much does it cost to install solar panels in Richmond?
The average cost of solar panels in Richmond 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 like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Richmond?
You can’t get solar panels for free in Richmond. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Does Richmond have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can 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 install between 20 and 35 panels to account for 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.