Solar Panel Cost Guide in Chanceford, PA (2023 Update)
- Chanceford Solar Installation Cost: $11,781
- 25-Year Savings: $14,170
- Payback Period: 11.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Chanceford
Let's take a look at the average cost of solar panels in Chanceford.
Although the national average of solar panels is $2.66 per watt, solar panels in Chanceford generally cost around 2.55. Using this figure, a typical 6.6-kW system would cost about $11,781 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you choose, your solar contractor and more. But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on electricity bills.
To get a free estimate from a pre-vetted solar installation company in Chanceford, you can click the button below.
Solar savings over time in Chanceford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,743 |
| 3 years | $-8,667 |
| 5 years | $-6,591 |
| 7 years | $-4,515 |
| 9 years | $-2,439 |
| 11 years | $-363 |
| 13 years | $1,713 |
| 15 years | $3,789 |
| 17 years | $5,865 |
| 19 years | $7,941 |
| 21 years | $10,017 |
| 23 years | $12,093 |
| 25 years | $14,170 |
Top Solar Installers in Chanceford
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make swapping over to solar power much easier. The payback period on a solar system will vary based on factors like your roof configuration and energy needs, but working with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you're searching for a solar installer in Chanceford, we've organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Chanceford
Factors that Affect Solar Panel Costs in Chanceford
There are several criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The type 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. On the other hand, higher efficiency could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Chanceford average.
Solar Financing Terms
Many homeowners find the average cost of solar in Chanceford to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can impact your pricing. Chanceford's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Chanceford have more knowledge 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 | $2.65 | $11,138 | $12,457 | 11.8 years |
| 8 kW | $2.60 | $14,566 | $16,894 | 11.6 years |
| 10 kW | $2.55 | $17,850 | $21,475 | 11.3 years |
| 12 kW | $2.50 | $20,992 | $26,199 | 11.1 years |
| 14 kW | $2.45 | $23,990 | $31,065 | 10.9 years |
| 16 kW | $2.40 | $26,846 | $36,074 | 10.7 years |
| 18 kW | $2.35 | $29,560 | $41,226 | 10.4 years |
| 20 kW | $2.29 | $32,130 | $46,520 | 10.2 years |
How to Save on Solar Panels
The solar installer you choose 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 some important things you should consider, such as:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Before signing a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Chanceford, PA Solar Cost FAQs
What is the average cost of installing solar panels in Chanceford?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $12,750 for a 5-kW system and $25,500 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Chanceford?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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 financial benefits from going solar.
Can you sell solar power back to the grid in Chanceford?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 the amount of 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 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.