solar panels

Solar Panels Cost In Pennsylvania – Cost Guide 2022

5 minutes, 17 seconds Read

Pennsylvania might not seem like the ideal place for solar energy given its long history of coal and nuclear energy production, as well as its recent expansion into fracking for natural gas. 

Are solar panels something you’re thinking about for your Pennsylvania home or place of business?

Although most people save money, the cost of solar panels in Pennsylvania does vary, so even though most people do save money, it’s still important to consider your actual cost and make sure solar energy is right for you.

Solar Panels Cost In Pennsylvania In 2022

As of August 2022, the average solar panel cost in Pennsylvania is $3.01/W. Given a solar panel system size of 5 kilowatts (kW), an average solar installation in Pennsylvania ranges in cost from $12,792 to $17,308, with the average gross price for solar in Pennsylvania coming in at $15,050. The net cost of going solar can decrease by thousands of dollars after taking into account the 26% Federal Investment Tax Credit (ITC) and other state and local solar incentives.

It’s important to note that these costs are typical of those experienced by solar buyers comparing solar quotes on the EnergySage Marketplace. When you compare quotes for solar panels on EnergySage’s competitive solar marketplace, you can expect to see prices up to 20% lower than working with a single solar company.

Calculating The Cost Of Solar Panels In Pennsylvania

Depending on where you live and how much electricity your home uses, solar installation costs will change. Information on solar costs must be customized to each situation in order to be meaningful. You can estimate your solar cost and savings by entering your information in the solar calculator below, and you can also learn how much solar panels will cost for your home based on the most recent quotes from local solar installation companies.

Which Will Influence The Price Of Solar Panels?

The price of solar includes more than just the equipment and installation; it also includes costs for permits, inspections, and installer profit margins.

The price of solar varies between installations as a result of these various components. For particular homes, the following variables may affect the price of installing a solar power system:

The Amount Of Electricity Your Home Uses

Homes with higher electricity needs will require more solar panels to meet their energy requirements.

The cost of the system will rise as more solar panels are added, despite the fact that solar panels do get cheaper per watt.

However, solar panels can reduce a home’s energy costs by a greater amount the more energy that the home uses.

The Type Of Solar Panels You Buy

Depending on the type of solar panels you select, the cost of solar panels can change.

For residential solar installations, there are two primary types of solar panels: monocrystalline and polycrystalline. Solar panels made of monocrystalline crystals are typically more expensive and more efficient. Polycrystalline panels cost less and have a lower efficiency rating.

Your solar system’s price will also be impacted by the type of inverter you choose to purchase.

The Quality Of Your Solar Installation

You might come across some solar quotes with prices that seem absurdly low.

If the installer quotes you a price that seems absurdly low, they may be using subpar hardware or an unstable pricing strategy. Since you’ll be relying on a solar installer for the next 25 years, you want to choose one that charges enough to stay in business.

Make sure your installer provides you with the best quality at the best price by checking their references. Obtaining several solar quotes is crucial for this reason.

Federal, State, And Local Solar Incentives

The solar incentives that are available can affect the overall cost of solar.

The federal solar tax credit, also known as the ITC, is available to homeowners across the United States. By giving homeowners a tax credit equal to 26% of the cost of their installed solar panel system, the solar tax credit increases the cost-effectiveness of installing solar.

Local tax breaks and rebates for solar energy can end up saving homeowners thousands of dollars on a solar installation, especially when combined with the federal solar tax credit.

Utilize our solar panel calculator to find out what solar incentives are offered in your neighborhood.

Utilizing Additional Pennsylvania Solar Incentives

The state of Pennsylvania provides a wide range of solar programs and incentives that can lower the cost of solar installation. Pennsylvania also provides Solar Renewable Energy Certificates (SRECs) and Pennsylvania Net Metering in addition to the federal Solar Investment Credit (ITC).

A unique solar incentive program called SRECs enables Pennsylvanians to sell the energy that their solar panels produce back to the power grid. In order to meet Pennsylvania’s Renewable Portfolio Standard (RPS) target of sourcing 18% of its electricity needs from renewable sources by 2025, utilities agree to purchase SRECs from homeowners and business owners.

Another important solar policy in Pennsylvania is called Pennsylvania Net Metering, and it governs how a home’s solar PV system is connected to the power grid. Solar-powered homeowners with excess electricity can sell it to the utility under net metering at the same price they would pay to buy it on the open market.

When their solar panels produce more energy than they need for the month, this enables homeowners to store extra energy and offset some of the costs of solar. Net metering is a service provided by many utility companies, but PECO Energy is regarded as having the best net metering programs in Pennsylvania.

Does Pennsylvania Have A Need For Solar Panels?

Yes, in Pennsylvania solar energy is worthwhile. In fact, solar panels pay for themselves in the majority of locations, but how quickly you break even in comparison to other locations will depend on a number of factors, including the price of electricity, the availability of incentives, the climate, and the sun’s angle. In PA, the average cost of electricity is 15¢/kilowatt-hour (kWh), meaning over 20 years you can expect to save $48,900 by installing a 5 kW solar system (assuming you pay upfront with cash). You can start saving right away in Pennsylvania if you decide to finance your system with a $0 down loan, though your long-term savings will be smaller. See our articles on why solar is worthwhile and how much you can save by switching to solar for more information.

Share this post now!

Similar Posts

Leave a Reply

Your email address will not be published.