Solar Panel Cost Guide in Richmond, PA (Mar 2023)
- Richmond Solar Installation Cost: $11,870
- 25-Year Savings: $13,470
- Payback Period: 11.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Richmond
See how much it might cost to switch to solar power in Richmond.
The national average cost of solar panels is $2.66 per watt, but in Richmond it's 2.55 per watt. Using this figure, a typical 6.7-kW system would cost about $11,870 before the 30% 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 actual cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what company you go with. Many homeowners find going solar is a fruitful investment. The average homeowner in Richmond can save around $14,000 on their energy bills over 20 years.
To receive a free estimate from a pre-vetted solar company in Richmond, you can click the button below.
Solar savings over time in Richmond
| Year | Return on Investment |
|---|---|
| 1 years | $-10,857 |
| 3 years | $-8,829 |
| 5 years | $-6,802 |
| 7 years | $-4,775 |
| 9 years | $-2,748 |
| 11 years | $-721 |
| 13 years | $1,307 |
| 15 years | $3,334 |
| 17 years | $5,361 |
| 19 years | $7,388 |
| 21 years | $9,415 |
| 23 years | $11,443 |
| 25 years | $13,470 |
Top Solar Installers in Richmond
When making the switch to solar, many homeowners choose to hire a solar installation company since overseeing your solar installation yourself can be a time-consuming project. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
If you'd like to switch to solar energy but still aren't sure which solar installer to go with, here are our suggestions for providers in Richmond:
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 Richmond
Factors that Affect Solar Panel Costs in Richmond
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Richmond: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,550 per kilowatt in Richmond. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Richmond average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Richmond, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your overall costs, so it's important to take that into consideration 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 solar installation company you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Larger national companies usually 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 add-on services like electric vehicle 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 | $11,721 | 12.2 years |
| 8 kW | $2.60 | $14,566 | $15,914 | 11.9 years |
| 10 kW | $2.55 | $17,850 | $20,249 | 11.7 years |
| 12 kW | $2.50 | $20,992 | $24,727 | 11.5 years |
| 14 kW | $2.45 | $23,990 | $29,348 | 11.2 years |
| 16 kW | $2.40 | $26,846 | $34,112 | 11.0 years |
| 18 kW | $2.35 | $29,560 | $39,019 | 10.8 years |
| 20 kW | $2.29 | $32,130 | $44,068 | 10.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
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 Richmond, PA Solar Cost FAQs
What is the average cost of installing solar panels in Richmond?
The average cost of solar panels in Richmond 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 model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Richmond?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.
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.