Solar Panel Cost Guide in East Goshen, PA (2023 Update)
- East Goshen Solar Installation Cost: $11,669
- 25-Year Savings: $14,976
- Payback Period: 10.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in East Goshen
Find out what the average cost of solar panel installation is in East Goshen.
Currently, the national average cost of solar panels is $2.66 per watt. However, in East Goshen, the typical cost of a solar system is 2.55 per watt. To account for the typical energy usage of the average home in East Goshen, most homeowners require a 6.5-kilowatt system. Using the figure above, a solar installation costs about $11,674, or $16,694 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more. Even with the large upfront cost, the average East Goshen homeowner can save about $15,000 on their power bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a vetted solar panel company in East Goshen for a personalized quote.
Solar savings over time in East Goshen
| Year | Return on Investment |
|---|---|
| 1 years | $-10,379 |
| 3 years | $-7,799 |
| 5 years | $-5,218 |
| 7 years | $-2,638 |
| 9 years | $-57 |
| 11 years | $2,524 |
| 13 years | $5,104 |
| 15 years | $7,685 |
| 17 years | $10,265 |
| 19 years | $12,846 |
| 21 years | $15,426 |
| 23 years | $18,007 |
| 25 years | $20,587 |
Top Solar Installers in East Goshen
Although it's possible to install solar panels yourself, it takes extra energy and handiness. That's why most homeowners choose a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're on the hunt for a solar installer in East Goshen, the EcoWatch team has put together 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 East Goshen
Factors that Affect Solar Panel Costs in East Goshen
For many East Goshen homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in East Goshen, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in East Goshen, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by around $2,550 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the East Goshen average.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable choice because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. While solar loans make switching to solar energy more accessible for East Goshen homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can impact your pricing. East Goshen's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in East Goshen are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $13,316 | 11.4 years |
| 8 kW | $2.60 | $14,566 | $18,041 | 11.2 years |
| 10 kW | $2.55 | $17,850 | $22,908 | 10.9 years |
| 12 kW | $2.50 | $20,992 | $27,918 | 10.7 years |
| 14 kW | $2.45 | $23,990 | $33,070 | 10.5 years |
| 16 kW | $2.40 | $26,846 | $38,366 | 10.3 years |
| 18 kW | $2.35 | $29,560 | $43,804 | 10.1 years |
| 20 kW | $2.29 | $32,130 | $49,385 | 9.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in East Goshen, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you want a specific brand, make sure the solar company you're considering has it.
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 East Goshen, PA Solar Cost FAQs
What is the average cost of installing solar panels in East Goshen?
The average cost of solar panels in East Goshen is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will solar panels impact the value of my home?
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 East Goshen is currently $433,643, so you could be looking at a value of about $17,779 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in East Goshen is a fruitful investment.
How long do solar panels last in East Goshen?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.