Solar Panel Cost Guide in Honesdale, PA (2023 Update)
- Honesdale Solar Installation Cost: $12,334
- 25-Year Savings: $11,976
- Payback Period: 12.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Honesdale
Let's have a look at the average cost of solar in Honesdale.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Honesdale, the average cost of solar panels is 2.55 per watt. The average solar panel system size in Honesdale is around 6.9 kilowatts, meaning a cost of about $12,334 for a solar installation, or $17,638 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs will vary 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 usually fruitful, with a net average savings of about $13,000 over 20 years on energy bills.
You can click the button below to get connected with a vetted solar installer in Honesdale that can help you get a more accurate cost estimate for your home.
Solar savings over time in Honesdale
| Year | Return on Investment |
|---|---|
| 1 years | $-11,362 |
| 3 years | $-9,417 |
| 5 years | $-7,472 |
| 7 years | $-5,527 |
| 9 years | $-3,582 |
| 11 years | $-1,638 |
| 13 years | $307 |
| 15 years | $2,252 |
| 17 years | $4,197 |
| 19 years | $6,142 |
| 21 years | $8,087 |
| 23 years | $10,032 |
| 25 years | $11,976 |
Top Solar Installers in Honesdale
When switching to solar energy, many homeowners decide to hire a solar installer since overseeing your solar installation yourself can be a challenging project. The expertise that solar companies provide can be helpful as well, particularly if you aren't sure what type of solar equipment you need.
If you'd like to go solar but still aren't sure which solar company to go with, here are our suggestions for providers nearby:
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 Honesdale
Factors that Affect Solar Panel Costs in Honesdale
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Honesdale: 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
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 consumes, the larger your system will likely need to be. You can expect to spend around $2,550 per kilowatt in Honesdale. The type of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Honesdale offer solar loans, which reduce your upfront costs of installing solar panels. While solar loans make adopting solar energy more accessible for Honesdale 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
The solar 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. The company's size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk 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 down 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 | $9,966 | 13.2 years |
| 8 kW | $2.60 | $14,566 | $13,574 | 12.9 years |
| 10 kW | $2.55 | $17,850 | $17,324 | 12.7 years |
| 12 kW | $2.50 | $20,992 | $21,217 | 12.4 years |
| 14 kW | $2.45 | $23,990 | $25,253 | 12.2 years |
| 16 kW | $2.40 | $26,846 | $29,432 | 11.9 years |
| 18 kW | $2.35 | $29,560 | $33,754 | 11.7 years |
| 20 kW | $2.29 | $32,130 | $38,218 | 11.4 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 selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Reputation: Companies that have been operating for many years 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 support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big 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 Honesdale, PA Solar Cost FAQs
How much does it cost to install solar panels in Honesdale?
This is a hard question to answer exactly, because the cost depends on a few different 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Honesdale?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Honesdale have a net metering program?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.