Solar Panel Cost Guide in Collingdale, PA (2023 Update)
- Collingdale Solar Installation Cost: $11,620
- 25-Year Savings: $15,025
- Payback Period: 10.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Collingdale
Find out what the average cost of installing solar panels is in Collingdale.
The average cost of solar panels in Collingdale is 2.55 per watt. To cover the typical energy needs of the average home in Collingdale, most homeowners require a 6.5-kilowatt system. Using the figure above, a solar installation costs about $11,620, or $16,617 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Collingdale homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find adopting solar power is a sound investment. The average homeowner in Collingdale can save around $16,000 on their electricity bills over 20 years.
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 Collingdale
| Year | Return on Investment |
|---|---|
| 1 years | $-10,555 |
| 3 years | $-8,423 |
| 5 years | $-6,291 |
| 7 years | $-4,160 |
| 9 years | $-2,028 |
| 11 years | $104 |
| 13 years | $2,235 |
| 15 years | $4,367 |
| 17 years | $6,499 |
| 19 years | $8,630 |
| 21 years | $10,762 |
| 23 years | $12,894 |
| 25 years | $15,025 |
Top Solar Installers in Collingdale
Although you can install solar panels yourself, it takes extra labor and expertise. For that reason, most people choose to hire a solar panel installer. The expertise that solar installers provide can be valuable as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Collingdale
Factors that Affect Solar Panel Costs in Collingdale
The cost of installing a solar system in Collingdale can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,550. The type of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Collingdale to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. However, the interest on solar loans also increases your total costs, so it's important to consider that as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Collingdale is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services for different budgets. Additionally, some companies in Collingdale know more about local solar incentives and can help you learn about 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 | $13,415 | 11.3 years |
| 8 kW | $2.60 | $14,566 | $18,172 | 11.1 years |
| 10 kW | $2.55 | $17,850 | $23,072 | 10.9 years |
| 12 kW | $2.50 | $20,992 | $28,114 | 10.7 years |
| 14 kW | $2.45 | $23,990 | $33,300 | 10.5 years |
| 16 kW | $2.40 | $26,846 | $38,628 | 10.3 years |
| 18 kW | $2.35 | $29,560 | $44,100 | 10.0 years |
| 20 kW | $2.29 | $32,130 | $49,713 | 9.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: When making the switch to solar power, it's crucial to maintain an open line of communication with your solar company. Confirm that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: The model of solar panel you need to get plays a part in which company you should go with, since different companies offer different panels.
- Contract: Before signing a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
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 Collingdale, PA Solar Cost FAQs
What is the average cost of installing solar panels in Collingdale?
This is a tough question to answer precisely, because the cost depends on many 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Collingdale?
A solar panel system isn't free in Collingdale, 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.
How will having solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Collingdale is currently $88,300, which means you can expect a value of about $3,620 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Collingdale is a fruitful investment.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.