Solar Panel Cost Guide in Palmyra, PA (2023 Update)
- Palmyra Solar Installation Cost: $11,869
- 25-Year Savings: $13,085
- Payback Period: 11.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Palmyra
Let's take a look at the average cost of solar panels in Palmyra.
The national average cost of solar panels is $2.66 per watt, but in Palmyra it's 2.55 per watt. To account for the typical energy usage of the average home in Palmyra, most homeowners require a 6.7-kilowatt system. Using the figure above, a solar installation costs about $11,870, or $16,974 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Palmyra homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find adopting solar power is a sound investment. The average homeowner in Palmyra can save around $14,000 on their electricity bills over 20 years.
To receive a free estimate from a highly rated solar installation company in Palmyra, you can click the button below.
Solar savings over time in Palmyra
| Year | Return on Investment |
|---|---|
| 1 years | $-10,626 |
| 3 years | $-8,140 |
| 5 years | $-5,654 |
| 7 years | $-3,168 |
| 9 years | $-683 |
| 11 years | $1,803 |
| 13 years | $4,289 |
| 15 years | $6,775 |
| 17 years | $9,261 |
| 19 years | $11,747 |
| 21 years | $14,233 |
| 23 years | $16,719 |
| 25 years | $19,205 |
Top Solar Installers in Palmyra
Although it's possible to install solar panels by yourself, it involves extra effort and expertise. For that reason, almost all homeowners choose a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you're searching for a solar installer in Palmyra, the EcoWatch team has 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 Palmyra
Factors that Affect Solar Panel Costs in Palmyra
Even though the average cost of a solar system in Palmyra is $11,870, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,550. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Palmyra average.
Solar Financing Terms
Most solar installers in Palmyra offer solar loans, which reduce your upfront costs of installing solar panels. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Palmyra, and each can charge varying amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $2.65 | $11,138 | $11,378 | 12.4 years |
| 8 kW | $2.60 | $14,566 | $15,456 | 12.1 years |
| 10 kW | $2.55 | $17,850 | $19,678 | 11.9 years |
| 12 kW | $2.50 | $20,992 | $24,041 | 11.7 years |
| 14 kW | $2.45 | $23,990 | $28,548 | 11.4 years |
| 16 kW | $2.40 | $26,846 | $33,198 | 11.2 years |
| 18 kW | $2.35 | $29,560 | $37,990 | 10.9 years |
| 20 kW | $2.29 | $32,130 | $42,925 | 10.7 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose greatly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- 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 installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Contract: Before you sign a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you want a specific brand, make sure the solar company you're considering has it.
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 Palmyra, PA Solar Cost FAQs
How much does it cost to install solar panels in Palmyra?
The average cost of solar panels in Palmyra 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 things like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Palmyra, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.