Solar Panel Cost Guide in Salem, PA (2023 Update)
- Salem Solar Installation Cost: $12,552
- 25-Year Savings: $10,140
- Payback Period: 13.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Salem
Let's take a look at the average cost of solar panels in Salem.
The average cost of solar panels in Salem is 2.55 per watt. Using this figure, a typical 7.0-kW system would cost about $12,549 before the 30% federal solar tax credit is applied.
How much you pay can go above or below the average in Salem depending on a few factors, such as the kind of solar panels you choose and the solar company you hire. Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Salem can save about $12,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Salem
| Year | Return on Investment |
|---|---|
| 1 years | $-11,382 |
| 3 years | $-9,041 |
| 5 years | $-6,699 |
| 7 years | $-4,358 |
| 9 years | $-2,017 |
| 11 years | $324 |
| 13 years | $2,665 |
| 15 years | $5,007 |
| 17 years | $7,348 |
| 19 years | $9,689 |
| 21 years | $12,030 |
| 23 years | $14,371 |
| 25 years | $16,712 |
Top Solar Installers in Salem
Many homeowners choose to use a solar installation company since trying to put up solar panels yourself can be a lot of work. A solar company can also help save you money over time by offering warranties, repairs and component replacements.
Working with a licensed solar installer 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
See all of the solar companies in Salem
Factors that Affect Solar Panel Costs in Salem
For many Salem homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Salem, with typical prices between $20,000 to $40,000. There are numerous factors that considerably 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 influences the overall cost of going solar. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that are more efficient tend to also cost more. In addition, 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
Most solar installers in Salem provide solar loans, which reduce your upfront costs of installing solar. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating in Salem, and each can charge varying amounts for labor and equipment. Additionally, some companies in Salem have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $2.65 | $11,138 | $8,224 | 14.4 years |
| 8 kW | $2.60 | $14,566 | $11,250 | 14.1 years |
| 10 kW | $2.55 | $17,850 | $14,420 | 13.8 years |
| 12 kW | $2.50 | $20,992 | $17,732 | 13.6 years |
| 14 kW | $2.45 | $23,990 | $21,187 | 13.3 years |
| 16 kW | $2.40 | $26,846 | $24,785 | 13.0 years |
| 18 kW | $2.35 | $29,560 | $28,526 | 12.7 years |
| 20 kW | $2.29 | $32,130 | $32,410 | 12.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, 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: When making the switch to solar power, it's necessary to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the completion timeline.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before signing a contract with a solar company, 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 component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: The type of solar panel you need to get plays a role in which company you should go with, since different companies provide different panels.
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 Salem, PA Solar Cost FAQs
How much does it cost to install solar panels in Salem?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $12,750 for a 5-kW system and $25,500 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Salem?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 bang for your buck from going solar.
Can you sell solar power back to the grid in Salem?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
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 higher 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.