Solar Panel Cost Guide in Lower Merion, PA (2024 Update)
- Lower Merion Solar Installation Cost: $16,365
- 25-Year Savings: $14,891
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Lower Merion
Find out what the average cost of solar panel installation is in Lower Merion.
In Lower Merion, solar panels cost about 4 per watt on average.Since a 6.6-kW system is needed to cover the energy costs of a typical home in Lower Merion, the average price of going solar will be about $16,365 after claiming the federal solar tax credit of 0.
These figures are just averages, and how much solar costs for you may differ based on your specific situation and what company you want to go with.Even with the high upfront cost, the average Lower Merion homeowner can save about $15,000 on their energy bills over 20 years, which is one of the perks of solar.
To receive a free quote from a vetted solar company in Lower Merion, you can click the button below.
Solar savings over time in Lower Merion
| Year | Return on Investment |
|---|---|
| 1 years | $-15,074 |
| 3 years | $-12,494 |
| 5 years | $-9,913 |
| 7 years | $-7,333 |
| 9 years | $-4,752 |
| 11 years | $-2,172 |
| 13 years | $409 |
| 15 years | $2,990 |
| 17 years | $5,570 |
| 19 years | $8,151 |
| 21 years | $10,731 |
| 23 years | $13,312 |
| 25 years | $15,892 |
Top Solar Installers in Lower Merion
When making the switch to solar, many homeowners choose to go with a solar installation company since handling can be a difficult project. A solar installer can also help save you money over time by offering warranties, repairs and part replacements.
Working with a licensed solar company can make going solar easier. 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
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 Lower Merion
Factors that Affect Solar Panel Costs in Lower Merion
The cost of installing a solar system in Lower Merion can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The brand and type of equipment you want 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 come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Lower Merion offer solar loans, which reduce the initial cost of installing solar.However, the interest on solar loans also adds to your total costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $3.69 | $15,506 | $8,771 | 16.0 years |
| 8 kW | $3.62 | $20,278 | $12,092 | 15.7 years |
| 10 kW | $3.55 | $24,850 | $15,612 | 15.4 years |
| 12 kW | $3.48 | $29,224 | $19,330 | 15.0 years |
| 14 kW | $3.41 | $33,398 | $23,248 | 14.7 years |
| 16 kW | $3.34 | $37,374 | $27,364 | 14.4 years |
| 18 kW | $3.27 | $41,152 | $31,679 | 14.1 years |
| 20 kW | $3.19 | $44,730 | $36,193 | 13.8 years |
How to Save on Solar Panels
There are numerous companies to choose from in Lower Merion, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
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 Lower Merion, PA Solar Cost FAQs
What is the average cost of installing solar panels in Lower Merion?
This is a difficult question to answer precisely, because the cost depends on a few different 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Lower Merion?
You can’t get solar panels for free in Lower Merion. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Lower Merion have a net metering program?
Each state has some form 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 utility bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.