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.
The national average cost of solar panels is $2.66 per watt, but in Woodward it’s 4 per watt.The average Woodward homeowner needs a 7.1-kilowatt system, which would cost about $17,543 with the federal tax credit, or $25,086 before the 0 tax credit is applied.
How much you pay can go higher or lower than the average in Woodward based on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $18,000 over 20 years on energy bills.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, 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
Many homeowners opt for a solar installer since installing solar panels yourself can be a lot of work. 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 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 Woodward
Factors that Affect Solar Panel Costs in Woodward
For many Woodward homeowners, the decision to install solar panels comes down to 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 several factors that greatly 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 adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $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 brand name like Tesla or SunPower, these are often more expensive 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. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also adds to your overall costs, so it’s vital to keep that in mind 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 evaluate the cost of solar for your home or business in Woodward is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services for different budgets.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 car 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 solar panel company you opt for will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Contract: Though reading through a contract can take a lot of time, 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 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 Woodward, PA Solar Cost FAQs
What is the average cost of installing solar panels in Woodward?
The average cost of solar panels in Woodward is about $17,750 for a 5-kW system and $35,500 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.
Is cost the most important thing to think about when buying solar panels?
Cost is a crucial 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 take into account are the quality and durability of your solar panels.
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 Woodward is currently $118,161, so you can expect a value of about $4,845 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Woodward is a fruitful investment.
How long do solar panels last in Woodward?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.