Solar Panel Cost Guide in Wayne, PA (2024 Update)
- Wayne Solar Installation Cost: $16,864
- 25-Year Savings: $12,626
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Wayne
See how much it might cost to make the switch to solar in Wayne.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wayne, the typical cost of a solar system is 4 per watt.To account for the typical energy needs of the average home in Wayne, most homeowners require a 6.8-kilowatt system. Using the figure above, a solar installation costs around $16,864, or $24,116 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Wayne 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.Even with the large initial cost, the average Wayne homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a top solar company in Wayne for a quote for your home.
Solar savings over time in Wayne
| Year | Return on Investment |
|---|---|
| 1 years | $-15,570 |
| 3 years | $-12,981 |
| 5 years | $-10,393 |
| 7 years | $-7,804 |
| 9 years | $-5,216 |
| 11 years | $-2,627 |
| 13 years | $-39 |
| 15 years | $2,550 |
| 17 years | $5,139 |
| 19 years | $7,727 |
| 21 years | $10,316 |
| 23 years | $12,904 |
| 25 years | $15,493 |
Top Solar Installers in Wayne
Trying to put up solar panels yourself can be a stressful task, which is why using a solar installation company is a good option for many homeowners. Also, if you’d like to maximize your investment in solar energy, going with a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Wayne
Factors that Affect Solar Panel Costs in Wayne
There are a number of criteria that can influence your solar system 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 cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need 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 $3,550.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Wayne, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Wayne homeowners decide to finance their solar panel systems to make going solar more affordable.It’s a good idea to factor 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 company you choose to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies in Wayne, and each can charge varying amounts for labor and equipment.Additionally, some companies in Wayne know more 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 | $3.69 | $15,506 | $6,366 | 17.7 years |
| 8 kW | $3.62 | $20,278 | $8,886 | 17.4 years |
| 10 kW | $3.55 | $24,850 | $11,604 | 17.0 years |
| 12 kW | $3.48 | $29,224 | $14,521 | 16.7 years |
| 14 kW | $3.41 | $33,398 | $17,637 | 16.4 years |
| 16 kW | $3.34 | $37,374 | $20,952 | 16.0 years |
| 18 kW | $3.27 | $41,152 | $24,466 | 15.7 years |
| 20 kW | $3.19 | $44,730 | $28,178 | 15.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select 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 large role in the company you go with.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Wayne, PA Solar Cost FAQs
How much does it cost to install solar panels in Wayne?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally 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 additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Wayne is currently $828,456, so you can expect a value of about $33,967 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Wayne is a fruitful investment.
How often do you have to replace solar panels?
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 level 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.