Solar Panel Cost Guide in Derry, PA (Aug 2022)

  • Derry Solar Installation Cost: $12,681
  • 25-Year Savings: $12,273
  • Payback Period: 12.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Derry

Let's have a look at the average cost of solar panels in Derry.

The national average cost of solar panels is $2.66 per watt, but in Derry it's $3 per watt. Using this figure, a typical 6.7 would cost about $12,681 before the federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Derry homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Derry find installing solar panels can pay off big.

To see your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Derry

Year Return on Investment
1 years $-11,682
3 years $-9,686
5 years $-7,690
7 years $-5,694
9 years $-3,697
11 years $-1,701
13 years $295
15 years $2,292
17 years $4,288
19 years $6,284
21 years $8,281
23 years $10,277
25 years $12,273

Top Solar Installers in Derry

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. Hiring a solar panel installer can make going solar much easier. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy usage, but working with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.

Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Derry

Factors that Affect Solar Panel Costs in Derry

Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Derry: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment Size

The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size. Solar power systems with higher efficiency or power generation 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. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Derry, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of 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

For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Derry, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. Even though solar loans make adopting solar energy more accessible for Derry homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make 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 choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Derry, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.

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 $11,775 $10,517 13.2 years
8 kW $2.60 $15,398 $14,325 13.0 years
10 kW $2.55 $18,870 $18,283 12.7 years
12 kW $2.50 $22,191 $22,393 12.4 years
14 kW $2.45 $25,361 $26,653 12.2 years
16 kW $2.40 $28,380 $31,065 11.9 years
18 kW $2.35 $31,249 $35,627 11.7 years
20 kW $2.29 $33,966 $40,341 11.4 years

Solar Incentives in Derry

Name Solar Alternative Energy Credits
Incentive Amount Varies based on market conditions; during 2015 the market price for PA-sourced SRECs has ranged from approximately $32 - $55/MWh ($0.032 - $0.055/kWh) although individual trades have taken place at substantially lower and higher prices.
Incentive Max Varies based on market conditions; SACP does not represent a price ceiling because it is only determined after the fact
Website Visit here
More Info Click here

Name High Performance Building Incentives Program
Incentive Amount Vary by project, but program generally requires matching funds at least equivalent to DCED funding
Incentive Max Residential loans/loan guarantees: $100,000
Commercial loans/loan guarantees: $2 million
Grants: Lesser of 10% of project costs or $500,000
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name High Performance Buildings Incentive Program
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:

  • Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should go with, since different companies have access to different panels.
  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
  • Installation Process: When going solar, it's necessary to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the project timeline.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Derry, PA Solar Cost FAQs

What is the average cost of installing solar panels in Derry?

This is a tough question to answer exactly, because the cost depends on many 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 other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Derry?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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.

Do solar panels increase the value of your home?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Derry is currently $231,596, so you can look forward to a value of about $9,495 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Derry is a fruitful investment.

How often do you have to replace solar panels?

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.

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