Solar Panel Cost Guide in Monroe, PA (2023 Update)
- Monroe Solar Installation Cost: $11,888
- 25-Year Savings: $14,752
- Payback Period: 11.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Monroe
Here's how much it might cost to install solar panels in Monroe.
The average cost of a solar system in Monroe is 2.55 per watt. The average solar panel system size in Monroe is around 6.7 kilowatts, meaning a cost of about $11,888 for a solar installation, or $17,000 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy consumption and what company you go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Monroe can save around $15,000 on their electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Monroe
| Year | Return on Investment |
|---|---|
| 1 years | $-10,823 |
| 3 years | $-8,691 |
| 5 years | $-6,560 |
| 7 years | $-4,429 |
| 9 years | $-2,298 |
| 11 years | $-167 |
| 13 years | $1,965 |
| 15 years | $4,096 |
| 17 years | $6,227 |
| 19 years | $8,358 |
| 21 years | $10,489 |
| 23 years | $12,620 |
| 25 years | $14,752 |
Top Solar Installers in Monroe
Many homeowners decide to use a solar installer since figuring out how to install solar panels by yourself can be time-consuming. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Monroe
Factors that Affect Solar Panel Costs in Monroe
The cost of installing a solar system in Monroe can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,550. There are several different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in Monroe, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Monroe, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,852 | 11.6 years |
| 8 kW | $2.60 | $14,566 | $17,422 | 11.4 years |
| 10 kW | $2.55 | $17,850 | $22,135 | 11.2 years |
| 12 kW | $2.50 | $20,992 | $26,990 | 10.9 years |
| 14 kW | $2.45 | $23,990 | $31,988 | 10.7 years |
| 16 kW | $2.40 | $26,846 | $37,129 | 10.5 years |
| 18 kW | $2.35 | $29,560 | $42,413 | 10.3 years |
| 20 kW | $2.29 | $32,130 | $47,839 | 10.0 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy 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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Monroe, PA Solar Cost FAQs
What is the average cost of installing solar panels in Monroe?
The average cost of solar panels in Monroe is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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.