Solar Panel Cost Guide in Edwardsville, PA (2023 Update)
- Edwardsville Solar Installation Cost: $12,401
- 25-Year Savings: $8,807
- Payback Period: 14.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Edwardsville
Find out what the average cost of installing solar panels is in Edwardsville.
The average cost of solar panels in Edwardsville is 2.55 per watt. The average Edwardsville homeowner needs a 7.0-kilowatt system, which would cost about $12,406 with the federal tax credit, or $17,741 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Edwardsville homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $12,000 on utility bills over 20 years, many homeowners in Edwardsville find investing in solar has a decent ROI.
To get a free quote from a vetted solar installer in Edwardsville, you can click the button below.
Solar savings over time in Edwardsville
| Year | Return on Investment |
|---|---|
| 1 years | $-12,331 |
| 3 years | $-12,189 |
| 5 years | $-12,048 |
| 7 years | $-11,906 |
| 9 years | $-11,765 |
| 11 years | $-11,624 |
| 13 years | $-11,482 |
| 15 years | $-11,341 |
| 17 years | $-11,200 |
| 19 years | $-11,058 |
| 21 years | $-10,917 |
| 23 years | $-10,775 |
| 25 years | $-10,634 |
Top Solar Installers in Edwardsville
Although you can install solar panels on your own, it involves extra effort and knowledge. Because of that, the majority of homeowners choose to go with a solar panel installer. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Edwardsville
Factors that Affect Solar Panel Costs in Edwardsville
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Edwardsville: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Edwardsville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,550 for each additional kilowatt you need. There are several different solar panel brands and the one you pick also changes the cost. In many cases, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you select will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $2.65 | $11,138 | $7,177 | 15.2 years |
| 8 kW | $2.60 | $14,566 | $9,855 | 14.9 years |
| 10 kW | $2.55 | $17,850 | $12,676 | 14.6 years |
| 12 kW | $2.50 | $20,992 | $15,640 | 14.3 years |
| 14 kW | $2.45 | $23,990 | $18,746 | 14.0 years |
| 16 kW | $2.40 | $26,846 | $21,995 | 13.7 years |
| 18 kW | $2.35 | $29,560 | $25,387 | 13.4 years |
| 20 kW | $2.29 | $32,130 | $28,922 | 13.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, 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:
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Make sure you're aligned with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 considerable role in the company you go with.
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 Edwardsville, PA Solar Cost FAQs
How much does it cost to install solar panels in Edwardsville?
This is a tough question to answer precisely, because the cost depends on a variety of 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 be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Edwardsville?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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.
Is it worth going solar in Edwardsville?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Edwardsville?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.