Solar Panel Cost Guide in Economy, PA (2023 Update)
- Economy Solar Installation Cost: $12,459
- 25-Year Savings: $15,203
- Payback Period: 11.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Economy
See how much it might cost to switch to solar power in Economy.
In Economy, solar panels cost about 2.55 per watt on average. The average solar panel system size in Economy is around 7.0 kilowatts, meaning a cost of about $12,459 for a solar installation, or $17,816 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar system you choose, your solar contractor and more. With typical savings of about $15,000 on power bills over 20 years, many homeowners in Economy find installing solar panels can be quite rewarding.
To receive a free estimate from a top solar installer in Economy, you can click the button below.
Solar savings over time in Economy
| Year | Return on Investment |
|---|---|
| 1 years | $-11,353 |
| 3 years | $-9,140 |
| 5 years | $-6,927 |
| 7 years | $-4,714 |
| 9 years | $-2,501 |
| 11 years | $-288 |
| 13 years | $1,925 |
| 15 years | $4,138 |
| 17 years | $6,351 |
| 19 years | $8,564 |
| 21 years | $10,777 |
| 23 years | $12,990 |
| 25 years | $15,203 |
Top Solar Installers in Economy
Many homeowners opt for a solar installer since figuring out how to install solar panels by yourself can be time-consuming. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Economy:
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 Economy
Factors that Affect Solar Panel Costs in Economy
For many Economy homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Economy, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,550. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 power bills. In addition, extra products, like solar batteries, can bump up your total well above the Economy average.
Solar Financing Terms
Most solar companies in Economy provide solar loans, which reduce the initial cost of installing solar. However, the interest on solar loans also adds to your overall costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Economy is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that offer a range of services for different budgets. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $12,624 | 11.7 years |
| 8 kW | $2.60 | $14,566 | $17,118 | 11.5 years |
| 10 kW | $2.55 | $17,850 | $21,754 | 11.3 years |
| 12 kW | $2.50 | $20,992 | $26,533 | 11.0 years |
| 14 kW | $2.45 | $23,990 | $31,455 | 10.8 years |
| 16 kW | $2.40 | $26,846 | $36,520 | 10.6 years |
| 18 kW | $2.35 | $29,560 | $41,728 | 10.4 years |
| 20 kW | $2.29 | $32,130 | $47,078 | 10.1 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
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 Economy, PA Solar Cost FAQs
How much does it cost to install solar panels in Economy?
The average cost of solar panels in Economy 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 certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Economy?
Leasing solar panels can be an attractive choice, as it typically 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Economy?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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 after having them for that long or you can keep using 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.