Solar Panel Cost Guide in Loyalsock, PA (2023 Update)
- Loyalsock Solar Installation Cost: $12,569
- 25-Year Savings: $14,886
- Payback Period: 11.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Loyalsock
We break down average solar pricing in Loyalsock.
While the national average of solar panels is $2.66 per watt, solar panels in Loyalsock typically cost around 2.55. To account for the typical energy needs of the average home in Loyalsock, most homeowners require a 7.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,566, or $17,969 before the federal solar tax credit of 30% is applied.
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 based on several factors, such as how many panels you need, your energy usage and what installation company you go with. Many homeowners find going solar is a solid investment. The average homeowner in Loyalsock can save about $15,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Loyalsock for a quote for your home.
Solar savings over time in Loyalsock
| Year | Return on Investment |
|---|---|
| 1 years | $-12,478 |
| 3 years | $-12,295 |
| 5 years | $-12,112 |
| 7 years | $-11,929 |
| 9 years | $-11,746 |
| 11 years | $-11,563 |
| 13 years | $-11,380 |
| 15 years | $-11,197 |
| 17 years | $-11,014 |
| 19 years | $-10,831 |
| 21 years | $-10,648 |
| 23 years | $-10,465 |
| 25 years | $-10,281 |
Top Solar Installers in Loyalsock
Trying to put up solar panels by yourself can be a dangerous project, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar companies provide can be helpful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
If you're on the hunt for a solar installer in Loyalsock, we've organized 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
See all of the solar companies in Loyalsock
Factors that Affect Solar Panel Costs in Loyalsock
There are several criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $2,550 per kilowatt in Loyalsock. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a 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 add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Loyalsock to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. Though solar loans make going solar more accessible for Loyalsock homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you pick will affect your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally 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 | $12,255 | 11.9 years |
| 8 kW | $2.60 | $14,566 | $16,625 | 11.7 years |
| 10 kW | $2.55 | $17,850 | $21,139 | 11.4 years |
| 12 kW | $2.50 | $20,992 | $25,795 | 11.2 years |
| 14 kW | $2.45 | $23,990 | $30,594 | 11.0 years |
| 16 kW | $2.40 | $26,846 | $35,536 | 10.8 years |
| 18 kW | $2.35 | $29,560 | $40,620 | 10.5 years |
| 20 kW | $2.29 | $32,130 | $45,848 | 10.3 years |
How to Save on Solar Panels
The company that does your 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:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Loyalsock, PA Solar Cost FAQs
What is the average cost of installing solar panels in Loyalsock?
This is a hard question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want extra 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.
Should I lease or buy solar panels in Loyalsock?
Leasing solar panels can be an appealing choice, as it typically 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will solar panels impact my home value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Loyalsock?
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 larger 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.