Solar Panel Cost Guide in Prospect Park, PA (2024 Update)
- Prospect Park Solar Installation Cost: $16,181
- 25-Year Savings: $15,023
- Payback Period: 15.2 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Prospect Park
Find out what the average cost of solar panels are in Prospect Park.
While the national average of solar panels is $2.66 per watt, solar panels in Prospect Park typically cost about 4.Since a 6.5-kW system is needed to cover the energy needs of a typical home in Prospect Park, the average price of going solar will be about $16,181 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Prospect Park 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.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $16,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a top solar installer in Prospect Park that can help you get a more accurate cost estimate for your home.
Solar savings over time in Prospect Park
Year | Return on Investment |
---|---|
1 years | $-14,890 |
3 years | $-12,310 |
5 years | $-9,729 |
7 years | $-7,149 |
9 years | $-4,568 |
11 years | $-1,988 |
13 years | $593 |
15 years | $3,174 |
17 years | $5,754 |
19 years | $8,335 |
21 years | $10,915 |
23 years | $13,496 |
25 years | $16,076 |
Top Solar Installers in Prospect Park
When making the switch to solar, many homeowners decide to go with a solar installation company since handling can be a time-consuming project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Prospect Park
Factors that Affect Solar Panel Costs in Prospect Park
Even though the average cost of a solar system in Prospect Park is $16,181, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar panel system you need, 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 about $3,550. There are several different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can impact your pricing. Prospect Park’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies keep up with them by promoting 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 | $9,047 | 15.8 years |
8 kW | $3.62 | $20,278 | $12,460 | 15.5 years |
10 kW | $3.55 | $24,850 | $16,072 | 15.2 years |
12 kW | $3.48 | $29,224 | $19,882 | 14.9 years |
14 kW | $3.41 | $33,398 | $23,892 | 14.6 years |
16 kW | $3.34 | $37,374 | $28,100 | 14.3 years |
18 kW | $3.27 | $41,152 | $32,508 | 14.0 years |
20 kW | $3.19 | $44,730 | $37,113 | 13.7 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: Before signing a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable 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 satisfied reviews from previous customers.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Prospect Park, PA Solar Cost FAQs
What is the average cost of installing solar panels in Prospect Park?
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 be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Prospect Park?
You can’t get solar panels for free in Prospect Park. 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 prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t choose 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."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 get between 20 and 35 panels to cover 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.