Solar Panel Cost Guide in Richmond, PA (2024 Update)
- Richmond Solar Installation Cost: $16,528
- 25-Year Savings: $13,468
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Richmond
We go over average solar pricing in Richmond.
The national average cost of solar panels is $2.66 per watt, but in Richmond it’s 4 per watt.The average Richmond homeowner needs a 6.7-kilowatt system, which would cost about $16,528 with the federal tax credit, or $23,635 before the 0 tax credit is applied.
The true cost of your system can go higher or lower than the average in Richmond based on several factors, such as the brand of solar panels you choose and the solar installer you hire.With average savings of about $14,000 on utility bills over 20 years, many homeowners in Richmond find installing solar panels can be quite rewarding.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Richmond
| Year | Return on Investment |
|---|---|
| 1 years | $-15,285 |
| 3 years | $-12,799 |
| 5 years | $-10,313 |
| 7 years | $-7,827 |
| 9 years | $-5,341 |
| 11 years | $-2,855 |
| 13 years | $-369 |
| 15 years | $2,117 |
| 17 years | $4,603 |
| 19 years | $7,089 |
| 21 years | $9,575 |
| 23 years | $12,061 |
| 25 years | $14,547 |
Top Solar Installers in Richmond
Although it's possible to install solar panels by yourself, it requires extra energy and know-how. That's why the majority of homeowners choose to go with a solar panel installer. Another upside of utilizing a solar company is that they can help you optimize your ROI by lowering your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Richmond
Factors that Affect Solar Panel Costs in Richmond
For many Richmond homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Richmond, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s important 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 influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Richmond homeowners choose to finance their solar panel systems to offset upfront costs.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you select will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $3.69 | $15,506 | $7,353 | 17.0 years |
| 8 kW | $3.62 | $20,278 | $10,202 | 16.6 years |
| 10 kW | $3.55 | $24,850 | $13,249 | 16.3 years |
| 12 kW | $3.48 | $29,224 | $16,495 | 16.0 years |
| 14 kW | $3.41 | $33,398 | $19,940 | 15.7 years |
| 16 kW | $3.34 | $37,374 | $23,584 | 15.3 years |
| 18 kW | $3.27 | $41,152 | $27,427 | 15.0 years |
| 20 kW | $3.19 | $44,730 | $31,468 | 14.7 years |
How to Save on Solar Panels
There are a lot of companies available in Richmond, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Solar Panel Brands: The type of solar panel you want to install plays a part in which installer you should go with, since different companies provide different panels.
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 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 $17,750 for a 5-kW system and $35,500 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 consume.
Are solar panels free in Richmond?
Solar panels aren’t free in Richmond, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Richmond have a net metering program?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for 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 household 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.