Solar Panel Cost Guide in Folcroft, PA (2024 Update)
- Folcroft Solar Installation Cost: $16,181
- 25-Year Savings: $15,023
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Folcroft
Here’s how much it might cost to install solar panels in Folcroft.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Folcroft, the typical cost of solar panels is 4 per watt.Since a 6.5-kW system is needed to cover the energy usage of a typical home in Folcroft, the average price of going solar will be about $16,181 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.Despite the large initial cost, the average Folcroft homeowner can save about $16,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Folcroft
| Year | Return on Investment |
|---|---|
| 1 years | $-14,890 |
| 3 years | $-12,310 |
| 5 years | $-9,729 |
| 7 years | $-7,149 |
| 9 years | $-4,568 |
| 11 years | $-1,988 |
| 13 years | $593 |
| 15 years | $3,174 |
| 17 years | $5,754 |
| 19 years | $8,335 |
| 21 years | $10,915 |
| 23 years | $13,496 |
| 25 years | $16,076 |
Top Solar Installers in Folcroft
When making the switch to solar, many homeowners prefer to hire a solar company since handling can be a time-consuming project. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance in the long run.
If you're on the hunt for a solar installer in Folcroft, we've compiled 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Folcroft
Factors that Affect Solar Panel Costs in Folcroft
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Folcroft: 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
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require 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 $3,550.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over five to seven years on average.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you select will affect your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Folcroft know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $3.69 | $15,506 | $9,047 | 15.8 years |
| 8 kW | $3.62 | $20,278 | $12,460 | 15.5 years |
| 10 kW | $3.55 | $24,850 | $16,072 | 15.2 years |
| 12 kW | $3.48 | $29,224 | $19,882 | 14.9 years |
| 14 kW | $3.41 | $33,398 | $23,892 | 14.6 years |
| 16 kW | $3.34 | $37,374 | $28,100 | 14.3 years |
| 18 kW | $3.27 | $41,152 | $32,508 | 14.0 years |
| 20 kW | $3.19 | $44,730 | $37,113 | 13.7 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Folcroft, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Solar Panel Brands: Different companies carry various brands and models of panels. If you prefer 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Folcroft, PA Solar Cost FAQs
How much does it cost to install solar panels in Folcroft?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,750 for a 5-kW system and $35,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Folcroft is currently $200,262, which means you can expect a value of about $8,211 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Folcroft is a worthwhile investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.