Solar Panel Cost Guide in Economy, PA (2024 Update)
- Economy Solar Installation Cost: $17,357
- 25-Year Savings: $15,195
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Economy
Let’s have a look at the average cost of solar panels in Economy.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Economy, the average cost of a solar system is 4 per watt.To account for the typical energy needs of the average home in Economy, most homeowners require a 7.0-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,357, or $24,821 before the federal solar tax credit of 0 is applied.
These figures are only averages, and how much solar costs for you will differ based on the amount of energy your home requires and what company you want to go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is typically good, with a net average savings of about $15,000 over 20 years on electricity bills.
To receive a free estimate from a pre-vetted solar installation company in Economy, you can click the button below.
Solar savings over time in Economy
| Year | Return on Investment |
|---|---|
| 1 years | $-15,720 |
| 3 years | $-12,446 |
| 5 years | $-9,172 |
| 7 years | $-5,899 |
| 9 years | $-2,625 |
| 11 years | $649 |
| 13 years | $3,923 |
| 15 years | $7,197 |
| 17 years | $10,471 |
| 19 years | $13,744 |
| 21 years | $17,018 |
| 23 years | $20,292 |
| 25 years | $23,566 |
Top Solar Installers in Economy
Many homeowners opt for a solar panel company since trying to install solar panels on your own can be time-consuming. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you’d like to switch to solar energy but still aren’t certain which solar system company to go with, here are our suggestions for providers in Economy:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Economy
Factors that Affect Solar Panel Costs in Economy
For many Economy homeowners, the decision to adopt solar energy depends on 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 various factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $3,550 per kilowatt in Economy.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Economy, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, 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
Many homeowners find the average cost of solar in Economy to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time due to interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Economy, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $8,256 | 16.3 years |
| 8 kW | $3.62 | $20,278 | $11,406 | 16.0 years |
| 10 kW | $3.55 | $24,850 | $14,754 | 15.7 years |
| 12 kW | $3.48 | $29,224 | $18,301 | 15.4 years |
| 14 kW | $3.41 | $33,398 | $22,047 | 15.1 years |
| 16 kW | $3.34 | $37,374 | $25,992 | 14.7 years |
| 18 kW | $3.27 | $41,152 | $30,136 | 14.4 years |
| 20 kW | $3.19 | $44,730 | $34,478 | 14.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable 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 past customers.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- 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 opt for.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
Best National Provider
SunPower
- 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
- 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
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 $17,750 for a 5-kW system and $35,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Economy?
You can’t get solar panels for free in Economy. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Economy?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.