Solar Panel Cost Guide in Waterford, PA (Mar 2023)
- Waterford Solar Installation Cost: $12,370
- 25-Year Savings: $19,218
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Waterford
Let's take a look at the average cost of solar panels in Waterford.
The national average cost of solar panels is $2.66 per watt, but in Waterford it's 2.55 per watt. To cover the typical energy needs of the average home in Waterford, most homeowners require a 6.9-kilowatt system. Using the figure above, a solar installation costs about $12,370, or $17,689 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar system you choose, your solar contractor and more. Many homeowners find installing a solar system is a sound investment. The average homeowner in Waterford can save around $17,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Waterford that can help you get a more accurate cost estimate for your home.
Solar savings over time in Waterford
| Year | Return on Investment |
|---|---|
| 1 years | $-11,107 |
| 3 years | $-8,579 |
| 5 years | $-6,052 |
| 7 years | $-3,525 |
| 9 years | $-998 |
| 11 years | $1,529 |
| 13 years | $4,056 |
| 15 years | $6,583 |
| 17 years | $9,110 |
| 19 years | $11,637 |
| 21 years | $14,164 |
| 23 years | $16,691 |
| 25 years | $19,218 |
Top Solar Installers in Waterford
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar company can make converting to solar power much easier. Companies can also have access to a large variety of the best solar panels and help you decide which one will be right for your home.
If you'd like to start using solar energy but still aren't sure which solar panel installer to go with, here are our suggestions 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Waterford
Factors that Affect Solar Panel Costs in Waterford
For many Waterford homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Waterford, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar 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 gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Waterford homeowners decide to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your all-in costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Waterford is the company you choose to install your solar system. As with choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that provide a range of services for different budgets. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for and also fits within your budget.
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
Since the type of solar panels and the company you choose significantly 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:
- 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 considerable role in the company you opt for.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- 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.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Waterford, PA Solar Cost FAQs
How much does it cost to install 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Waterford?
You can't get solar panels for free in Waterford. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my electricity 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.
How long do solar panels last in Waterford?
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 larger amount 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.