Solar Panel Cost Guide in Oil City, PA (Sep 2022)

  • Oil City Solar Installation Cost: $12,709
  • 25-Year Savings: $19,055
  • Payback Period: 10.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Oil City

Let's have a look at the average cost of solar panels in Oil City.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Oil City, the typical cost of a solar system is $3 per watt. Since a 7.1-kW system is needed to cover the energy usage of a typical home in Oil City, the average price of going solar will be about $12,709 before claiming the federal solar tax credit of 30%.

Bear in mind that the figures above are only estimates based on the average energy use of Oil City homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on energy bills.

To see your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Oil City

Year Return on Investment
1 years $-11,439
3 years $-8,898
5 years $-6,356
7 years $-3,815
9 years $-1,274
11 years $1,267
13 years $3,808
15 years $6,349
17 years $8,890
19 years $11,431
21 years $13,973
23 years $16,514
25 years $19,055

Top Solar Installers in Oil City

Many homeowners decide to use a solar installation company since trying to put up solar panels by yourself can be a labor-intensive endeavor. Plus, if you're unsure what brand of solar panels and equipment you want, a solar company can help you figure that out 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 in Oil City:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Oil City

Factors that Affect Solar Panel Costs in Oil City

Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Oil City: 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 Size

The size of the system you need is one of the largest factors that influences the overall cost of installing solar panels. That's why it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Oil City homeowners decide to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

The solar panel installer you select will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 $15,612 10.4 years
8 kW $2.60 $14,566 $21,101 10.2 years
10 kW $2.55 $17,850 $26,734 10.0 years
12 kW $2.50 $20,992 $32,509 9.8 years
14 kW $2.45 $23,990 $38,427 9.6 years
16 kW $2.40 $26,846 $44,487 9.4 years
18 kW $2.35 $29,560 $50,691 9.2 years
20 kW $2.29 $32,130 $57,037 9.0 years

Solar Incentives in Oil City

Name Solar Alternative Energy Credits
Incentive Amount Varies based on market conditions; during 2015 the market price for PA-sourced SRECs has ranged from approximately $32 - $55/MWh ($0.032 - $0.055/kWh) although individual trades have taken place at substantially lower and higher prices.
Incentive Max Varies based on market conditions; SACP does not represent a price ceiling because it is only determined after the fact
Website Visit here
More Info Click here

Name High Performance Building Incentives Program
Incentive Amount Vary by project, but program generally requires matching funds at least equivalent to DCED funding
Incentive Max Residential loans/loan guarantees: $100,000
Commercial loans/loan guarantees: $2 million
Grants: Lesser of 10% of project costs or $500,000
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name High Performance Buildings Incentive Program
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar panel company you go with will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:

  • Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
  • Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Oil City, PA Solar Cost FAQs

What is the average cost of installing solar panels in Oil City?

This is a hard question to answer precisely, because the cost depends on a variety of 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 other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in Oil City?

You can't get solar panels for free in Oil City. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

Can you sell solar power back to the grid in Oil City?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.

How many solar panels should I get to power my home?

To figure out what solar panel system size 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 usually produce about 250 to 400 watt-hours per hour, the average house 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.

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