Solar Panel Cost Guide in Colonial Park, PA (2024 Update)
- Colonial Park Solar Installation Cost: $16,690
- 25-Year Savings: $12,751
- Payback Period: 16.9 Years
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Average Cost of Solar Panels in Colonial Park
Let’s take a look at the average cost of solar in Colonial Park.
Although the national average of solar panels is $2.66 per watt, solar panels in Colonial Park generally cost about 4.Using this figure, a typical 6.7-kW system would cost about $16,690 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more.Despite the significant upfront cost, the average Colonial Park homeowner can save around $14,000 on their power bills over 20 years, which is one of the perks of solar.
To get a free estimate from a top solar company in Colonial Park, you can click the button below.
Solar savings over time in Colonial Park
| Year | Return on Investment |
|---|---|
| 1 years | $-15,379 |
| 3 years | $-12,756 |
| 5 years | $-10,133 |
| 7 years | $-7,511 |
| 9 years | $-4,888 |
| 11 years | $-2,265 |
| 13 years | $358 |
| 15 years | $2,980 |
| 17 years | $5,603 |
| 19 years | $8,226 |
| 21 years | $10,849 |
| 23 years | $13,472 |
| 25 years | $16,094 |
Top Solar Installers in Colonial Park
When going solar, many homeowners choose to hire a solar installation company since overseeing your solar installation yourself can be a challenging project. Some solar installers, especially local ones, can help you take advantage of incentives in Colonial Park, thereby optimizing your ROI.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Colonial Park
Factors that Affect Solar Panel Costs in Colonial Park
There are several criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,550.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Colonial Park, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in Colonial Park, and each can charge different amounts for labor and equipment.Larger national companies typically 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 additional 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 | $6,594 | 17.5 years |
| 8 kW | $3.62 | $20,278 | $9,190 | 17.2 years |
| 10 kW | $3.55 | $24,850 | $11,984 | 16.9 years |
| 12 kW | $3.48 | $29,224 | $14,977 | 16.5 years |
| 14 kW | $3.41 | $33,398 | $18,169 | 16.2 years |
| 16 kW | $3.34 | $37,374 | $21,560 | 15.9 years |
| 18 kW | $3.27 | $41,152 | $25,150 | 15.5 years |
| 20 kW | $3.19 | $44,730 | $28,938 | 15.2 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: Different companies carry various brands and types of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Contract: Look through the contract terms closely to make sure you understand the overall cost, project timeline incentives and warranties.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Colonial Park, PA Solar Cost FAQs
What is the average cost of installing solar panels in Colonial Park?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,750 for a 5-kW system and $35,500 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Colonial Park?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase your property value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Colonial Park?
On average, the lifespan of solar panels is 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.