Solar Panel Cost Guide in Waterford, PA (2023 Update)
- Waterford Solar Installation Cost: $12,362
- 25-Year Savings: $19,227
- Payback Period: 9.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Waterford
We break down average solar pricing in Waterford.
Although the national average of solar panels is $2.66 per watt, solar panels in Waterford typically cost around 2.55. Because a 6.9-kW system is needed to cover the energy needs of a typical home in Waterford, the average price of going solar will be about $12,370 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of installing solar panels can vary quite a bit depending on several factors, such as what size system you need, your energy usage and what company you go with. With typical savings of about $17,000 on utility bills over 20 years, many homeowners in Waterford find going solar has a decent ROI.
To get a free quote from a vetted solar installation company in Waterford, you can click the button below.
Solar savings over time in Waterford
| Year | Return on Investment |
|---|---|
| 1 years | $-12,256 |
| 3 years | $-12,046 |
| 5 years | $-11,835 |
| 7 years | $-11,625 |
| 9 years | $-11,414 |
| 11 years | $-11,203 |
| 13 years | $-10,993 |
| 15 years | $-10,782 |
| 17 years | $-10,572 |
| 19 years | $-10,361 |
| 21 years | $-10,151 |
| 23 years | $-9,940 |
| 25 years | $-9,729 |
Top Solar Installers in Waterford
Trying to put up solar panels by yourself can be a time-consuming project, which is why using a solar installer is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you decide which one will be best for your family.
If you'd like to go solar but still aren't certain which solar system installer to go with, here are our recommendations for providers nearby:
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 Waterford
Factors that Affect Solar Panel Costs in Waterford
Although the average cost of a solar system in Waterford is $12,370, your actual cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,550. The type 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 cost more. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to think 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's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar panel installation company you select will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Waterford have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $16,229 | 10.2 years |
| 8 kW | $2.60 | $14,566 | $21,925 | 10.0 years |
| 10 kW | $2.55 | $17,850 | $27,763 | 9.8 years |
| 12 kW | $2.50 | $20,992 | $33,744 | 9.6 years |
| 14 kW | $2.45 | $23,990 | $39,867 | 9.4 years |
| 16 kW | $2.40 | $26,846 | $46,134 | 9.2 years |
| 18 kW | $2.35 | $29,560 | $52,543 | 9.0 years |
| 20 kW | $2.29 | $32,130 | $59,095 | 8.8 years |
How to Save on Solar Panels
There are numerous companies to choose from in Waterford, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
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 Waterford, PA Solar Cost FAQs
What is the average cost of installing solar panels in Waterford?
The average cost of solar panels in Waterford is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $912.25 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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 buy 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.