Solar Panel Cost Guide in Treasure Lake, PA (2023 Update)
- Treasure Lake Solar Installation Cost: $12,602
- 25-Year Savings: $15,997
- Payback Period: 11.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Treasure Lake
We go over average solar pricing in Treasure Lake.
In Treasure Lake, solar panels cost about 2.55 per watt on average. To cover the typical energy usage of the average home in Treasure Lake, most homeowners require a 7.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,602, or $18,021 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Treasure Lake 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. Despite the high upfront cost, the average Treasure Lake homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the positives of solar.
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 Treasure Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-11,458 |
| 3 years | $-9,170 |
| 5 years | $-6,882 |
| 7 years | $-4,594 |
| 9 years | $-2,306 |
| 11 years | $-19 |
| 13 years | $2,269 |
| 15 years | $4,557 |
| 17 years | $6,845 |
| 19 years | $9,133 |
| 21 years | $11,421 |
| 23 years | $13,709 |
| 25 years | $15,997 |
Top Solar Installers in Treasure Lake
Although you can install solar panels by yourself, it takes extra effort and handiness. Because of that, most homeowners choose to hire a solar panel installer. Companies can also have access to various kinds of the best solar panels and help you decide which one will be best for your home.
There are several licensed solar professionals that can help you install your solar system. 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
See all of the solar companies in Treasure Lake
Factors that Affect Solar Panel Costs in Treasure Lake
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Treasure Lake: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Treasure Lake, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by about $2,550 for each additional kilowatt you need. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average. While solar loans make switching to solar energy more accessible for Treasure Lake homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies in Treasure Lake, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $13,168 | 11.5 years |
| 8 kW | $2.60 | $14,566 | $17,843 | 11.2 years |
| 10 kW | $2.55 | $17,850 | $22,661 | 11.0 years |
| 12 kW | $2.50 | $20,992 | $27,621 | 10.8 years |
| 14 kW | $2.45 | $23,990 | $32,724 | 10.6 years |
| 16 kW | $2.40 | $26,846 | $37,970 | 10.4 years |
| 18 kW | $2.35 | $29,560 | $43,359 | 10.1 years |
| 20 kW | $2.29 | $32,130 | $48,891 | 9.9 years |
How to Save on Solar Panels
There are many 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:
- Reputation: Companies that have been operating for many years 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 service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline rebates 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
EcoWatch's Treasure Lake, PA Solar Cost FAQs
What is the average cost of installing solar panels in Treasure Lake?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Treasure Lake?
A solar panel system isn't free in Treasure Lake, 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 can further reduce the cost.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Treasure Lake is currently $119,000, so you could be looking at a value of about $4,879 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Treasure Lake is a fruitful investment.
How long do solar panels last in Treasure Lake?
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 their energy production will have decreased significantly after that point. You can replace them once you've had 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.