Solar Panel Cost Guide in Wallace, PA (2024 Update)
- Wallace Solar Installation Cost: $16,246
- 25-Year Savings: $13,833
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Wallace
See how much it might cost to go solar in Wallace.
The average cost of a solar system in Wallace is 4 per watt.To account for the typical energy usage of the average home in Wallace, most homeowners require a 6.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,246, or $23,232 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy usage and what installation company you go with.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Wallace can save about $15,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar installer in Wallace for a personalized quote.
Solar savings over time in Wallace
| Year | Return on Investment |
|---|---|
| 1 years | $-14,951 |
| 3 years | $-12,363 |
| 5 years | $-9,774 |
| 7 years | $-7,186 |
| 9 years | $-4,597 |
| 11 years | $-2,009 |
| 13 years | $580 |
| 15 years | $3,169 |
| 17 years | $5,757 |
| 19 years | $8,346 |
| 21 years | $10,934 |
| 23 years | $13,523 |
| 25 years | $16,111 |
Top Solar Installers in Wallace
Many homeowners opt for a solar panel company since trying to put up solar panels on your own can be a lot of work. Solar warranties and repairs are usually included in the cost of installation when you go with a solar contractor as well, which can save you more money after your upfront investment.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Wallace:
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 Wallace
Factors that Affect Solar Panel Costs in Wallace
There are many criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,550. The brand of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Wallace have solar loans, which reduce your upfront costs of installing solar panels.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies operating in Wallace, and each can charge different amounts for labor and equipment.Additionally, some companies in Wallace know more 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 | $3.69 | $15,506 | $7,899 | 16.6 years |
| 8 kW | $3.62 | $20,278 | $10,929 | 16.2 years |
| 10 kW | $3.55 | $24,850 | $14,159 | 15.9 years |
| 12 kW | $3.48 | $29,224 | $17,587 | 15.6 years |
| 14 kW | $3.41 | $33,398 | $21,214 | 15.3 years |
| 16 kW | $3.34 | $37,374 | $25,039 | 15.0 years |
| 18 kW | $3.27 | $41,152 | $29,064 | 14.7 years |
| 20 kW | $3.19 | $44,730 | $33,287 | 14.3 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose greatly influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives 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
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 Wallace, PA Solar Cost FAQs
What is the average cost of installing solar panels in Wallace?
This is a hard question to answer exactly, because the cost depends on a few different 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. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Wallace?
You can’t get solar panels for free in Wallace. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home value?
Solar panels can increase your property’s value significantly 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?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.