Solar Panel Cost Guide in Richboro, PA (2024 Update)
- Richboro Solar Installation Cost: $16,360
- 25-Year Savings: $14,894
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Richboro
Find out what the average cost of solar panel installation is in Richboro.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Richboro, the typical cost of solar panels is 4 per watt.The average solar panel system size in Richboro is around 6.6 kilowatts, meaning a cost of about $16,360 for a solar installation, or $23,395 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what installation company you go with.For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $15,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a highly rated solar company in your area for a custom quote.
Solar savings over time in Richboro
| Year | Return on Investment |
|---|---|
| 1 years | $-15,070 |
| 3 years | $-12,489 |
| 5 years | $-9,908 |
| 7 years | $-7,328 |
| 9 years | $-4,747 |
| 11 years | $-2,167 |
| 13 years | $414 |
| 15 years | $2,994 |
| 17 years | $5,575 |
| 19 years | $8,155 |
| 21 years | $10,736 |
| 23 years | $13,317 |
| 25 years | $15,897 |
Top Solar Installers in Richboro
When switching to solar energy, many homeowners opt to use a solar company since installing a solar system yourself can be a challenging project. Another good thing about choosing a top solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Richboro
Factors that Affect Solar Panel Costs in Richboro
For many Richboro homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Richboro, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $3,550 per kilowatt in Richboro.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Richboro, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your overall costs, so it’s important to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Richboro, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Richboro know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $8,778 | 16.0 years |
| 8 kW | $3.62 | $20,278 | $12,101 | 15.7 years |
| 10 kW | $3.55 | $24,850 | $15,623 | 15.3 years |
| 12 kW | $3.48 | $29,224 | $19,344 | 15.0 years |
| 14 kW | $3.41 | $33,398 | $23,264 | 14.7 years |
| 16 kW | $3.34 | $37,374 | $27,383 | 14.4 years |
| 18 kW | $3.27 | $41,152 | $31,701 | 14.1 years |
| 20 kW | $3.19 | $44,730 | $36,217 | 13.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: The type of solar panel you need plays a role in which company you should opt for, since different companies have different panels.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Contract: Look through the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Richboro, PA Solar Cost FAQs
What is the average cost of installing solar panels in Richboro?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally 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 cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Richboro?
You can’t get solar panels for free in Richboro. 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 the value of your home?
Solar panels can increase the value of your home significantly 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 often do you have to replace solar panels?
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.