Solar Panel Cost Guide in Cheltenham, PA (2023 Update)
- Cheltenham Solar Installation Cost: $11,755
- 25-Year Savings: $14,891
- Payback Period: 11.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cheltenham
Let's have a look at the average cost of solar in Cheltenham.
In Cheltenham, solar panels cost about 2.55 per watt on average. The average Cheltenham homeowner needs a 6.6-kilowatt system, which would cost about $11,763 with the federal tax credit, or $16,821 before the 30% tax credit is applied.
How much you pay can be above or below the average in Cheltenham based on several factors, such as the kind of solar panels you choose and the solar company you hire. With average savings of about $15,000 on power bills over 20 years, many homeowners in Cheltenham find investing in solar has a decent ROI.
Click the button below to get connected to a reputable solar panel company in Cheltenham for a custom estimate.
Solar savings over time in Cheltenham
| Year | Return on Investment |
|---|---|
| 1 years | $-11,666 |
| 3 years | $-11,488 |
| 5 years | $-11,311 |
| 7 years | $-11,133 |
| 9 years | $-10,955 |
| 11 years | $-10,778 |
| 13 years | $-10,600 |
| 15 years | $-10,423 |
| 17 years | $-10,245 |
| 19 years | $-10,067 |
| 21 years | $-9,890 |
| 23 years | $-9,712 |
| 25 years | $-9,534 |
Top Solar Installers in Cheltenham
Although you can install solar panels on your own, it requires extra effort and handiness. That's why almost all homeowners choose to go with a solar panel installer. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Cheltenham
Factors that Affect Solar Panel Costs in Cheltenham
Although the average cost of a solar system in Cheltenham is $11,763, your final cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,550 per kilowatt in Cheltenham. The type of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your total costs, so it's crucial to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you choose will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. 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 access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $2.65 | $11,138 | $13,139 | 11.5 years |
| 8 kW | $2.60 | $14,566 | $17,804 | 11.2 years |
| 10 kW | $2.55 | $17,850 | $22,612 | 11.0 years |
| 12 kW | $2.50 | $20,992 | $27,562 | 10.8 years |
| 14 kW | $2.45 | $23,990 | $32,656 | 10.6 years |
| 16 kW | $2.40 | $26,846 | $37,892 | 10.4 years |
| 18 kW | $2.35 | $29,560 | $43,271 | 10.1 years |
| 20 kW | $2.29 | $32,130 | $48,793 | 9.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Before signing a contract with a solar installer, be sure to look it over fully 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 part breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: The model of solar panel you'd like to install plays a part in which installer you should choose, since different companies have access to different panels.
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 Cheltenham, PA Solar Cost FAQs
What is the average cost of installing solar panels in Cheltenham?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly 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 be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Cheltenham?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $809.23 per year.
How often do you have to replace solar panels?
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.