Solar Panel Cost Guide in Smithfield, PA (2024 Update)
- Smithfield Solar Installation Cost: $16,902
- 25-Year Savings: $12,676
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Smithfield
Let’s have a look at the average cost of solar in Smithfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Smithfield, the typical cost of a solar system is 4 per watt.To account for the typical energy needs of the average home in Smithfield, most homeowners require a 6.8-kilowatt system. Using the figure above, a solar installation costs around $16,902, or $24,170 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Smithfield homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $14,000 on power bills over 20 years, many homeowners in Smithfield find investing in solar has a decent ROI.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Smithfield
| Year | Return on Investment |
|---|---|
| 1 years | $-15,659 |
| 3 years | $-13,173 |
| 5 years | $-10,687 |
| 7 years | $-8,201 |
| 9 years | $-5,715 |
| 11 years | $-3,229 |
| 13 years | $-743 |
| 15 years | $1,743 |
| 17 years | $4,229 |
| 19 years | $6,715 |
| 21 years | $9,201 |
| 23 years | $11,687 |
| 25 years | $14,172 |
Top Solar Installers in Smithfield
When switching to solar energy, many homeowners opt to hire a solar company since installing a solar system yourself can be a difficult project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Smithfield
Factors that Affect Solar Panel Costs in Smithfield
Although the average cost of a solar system in Smithfield is $16,902, your final cost may differ. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar energy system you need for your home, 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 nearly $3,550. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Smithfield, where sunlight isn’t as 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Smithfield, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installation company you pick will affect your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.The company’s size sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $6,386 | 17.7 years |
| 8 kW | $3.62 | $20,278 | $8,912 | 17.4 years |
| 10 kW | $3.55 | $24,850 | $11,637 | 17.0 years |
| 12 kW | $3.48 | $29,224 | $14,561 | 16.7 years |
| 14 kW | $3.41 | $33,398 | $17,683 | 16.3 years |
| 16 kW | $3.34 | $37,374 | $21,005 | 16.0 years |
| 18 kW | $3.27 | $41,152 | $24,525 | 15.7 years |
| 20 kW | $3.19 | $44,730 | $28,244 | 15.3 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 models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Smithfield, PA Solar Cost FAQs
What is the average cost of installing solar panels in Smithfield?
This is a difficult question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Smithfield?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase the value of your home?
Solar panels can increase your property’s value considerably 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% after installing a solar system."
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.