Solar Panel Cost Guide in Woodward, PA (2024 Update)
- Woodward Solar Installation Cost: $17,543
- 25-Year Savings: $20,275
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Woodward
Let’s have a look at the average cost of solar in Woodward.
While the national average of solar panels is $2.66 per watt, solar panels in Woodward generally cost around 4.To account for the typical energy usage of the average home in Woodward, most homeowners require a 7.1-kilowatt system. Using the figure above, a solar installation costs around $17,543, or $25,086 before the federal solar tax credit of 0 is applied.
How much you pay can be above or below the average in Woodward based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Woodward see about $18,000 in savings on utility bills over 20 years.
To get a free quote from a pre-vetted solar company in Woodward, you can click the button below.
Solar savings over time in Woodward
| Year | Return on Investment |
|---|---|
| 1 years | $-16,066 |
| 3 years | $-13,111 |
| 5 years | $-10,156 |
| 7 years | $-7,201 |
| 9 years | $-4,246 |
| 11 years | $-1,291 |
| 13 years | $1,664 |
| 15 years | $4,619 |
| 17 years | $7,574 |
| 19 years | $10,529 |
| 21 years | $13,484 |
| 23 years | $16,439 |
| 25 years | $19,394 |
Top Solar Installers in Woodward
Although you can install solar panels yourself, it requires extra labor and expertise. That's one of the reasons most homeowners choose to go with a solar panel installer. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Woodward
Factors that Affect Solar Panel Costs in Woodward
For many Woodward homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Woodward, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,550 per kilowatt in Woodward.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Woodward have solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also adds to your overall costs, so it’s important to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Woodward, and each can charge different amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $12,436 | 13.9 years |
| 8 kW | $3.62 | $20,278 | $16,978 | 13.6 years |
| 10 kW | $3.55 | $24,850 | $21,720 | 13.3 years |
| 12 kW | $3.48 | $29,224 | $26,660 | 13.1 years |
| 14 kW | $3.41 | $33,398 | $31,799 | 12.8 years |
| 16 kW | $3.34 | $37,374 | $37,137 | 12.5 years |
| 18 kW | $3.27 | $41,152 | $42,674 | 12.3 years |
| 20 kW | $3.19 | $44,730 | $48,410 | 12.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Different companies carry different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: If you’re worried about the longevity of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
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 Woodward, PA Solar Cost FAQs
What is the average cost of installing solar panels in Woodward?
This is a hard 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase your property’s value considerably 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 solar panels."
How often do you have to replace solar panels?
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 how much energy they produce 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.