Are you considering the idea of installing solar panels on your home or business in the State of Pennsylvania? Solar costs vary significantly in each state so it is important to consider the cost benefit of a solar PV system.
How Much Do Solar Panels Cost In PA?
Cost of Solar Panels In PA:
According to the official industry data for 2021, the average cost of a solar panel installation in Pennsylvania ranges between $12,281 to $20,216 before applying solar incentives.
The average price for solar panel installation in PA on a cost per watt basis ranges from $2.64 to $3.56.
With the average size of a solar PV system in Pennsylvania being 4kW – 6kW, the average cost varies from $12,281 to $20,216 before applying solar incentives, or between $8,596 to $14,152 after applying solar incentives.
The following chart shows average prices for various solar PV systems based on the size of the system:
|System size*||Avg. cost
(before tax credit)
(after tax credit)
|4 kW||$3.07||267 sq/ft||$12,281||$8,596|
|5 kW||$3.09||333 sq/ft||$15,466||$10,826|
|6 kW||$3.37||400 sq/ft||$20,216||$14,151|
|8 kW||$3.36||533 sq/ft||$26,901||$18,830|
|10 kW||$3.36||667 sq/ft||$33,628||$23,540|
|12 kW||$3.36||800 sq/ft||$40,306||$28,214|
|20 kW||$3.39||1,333 sq/ft||$67,844||$47,491|
*Note: The chart above shows the average cost of solar panels in PA before and after Pennsylvania’s federal Investment Tax Credit (ITC) for solar.
The numbers above are a great guide to get an idea of the costs involved, the cost of solar panels in Pennsylvania depends on a variety of factors including, but not limited to:
- Annual Electricity Usage,
- The Brand of Solar Panels,
- Any Eligible PA Solar Incentives,
- and other factors.
What’s the average time it takes for Pennsylvanians to earn back the initial investment on solar panels?
One of the first things to consider when determining the financial feasibility of a solar system is the initial payback period. The payback period is a term that refers to the total amount of time it takes for property owners to recover their initial investment through electricity savings after installing solar panels.
According to the latest research, the average solar payback period for homeowners and business owners in Pennsylvania is 10.33 years.
Taking Advantage of Other PA Solar Incentives
Pennsylvania offers a wide variety of solar incentives that can help make the price of solar installation more affordable. In addition to the federal Solar Investment Credit (ITC), Pennsylvania also offer Solar Renewable Energy Certificates (SRECs) and Pennsylvania Net Metering.
SRECs are a special solar incentive program that enables Pennsylvanians to sell the energy that their panels generate back to the energy grid. Utilities agree to buy SRECs from homeowners and business owners to meet Pennsylvania’s Renewable Portfolio Standard (RPS) goal of sourcing 18% of its electricity needs from renewable resources by 2020.
Pennsylvania Net Metering is another significant solar policy in Pennsylvania which determines how how a residential solar PV system is connected with the energy grid. Net metering allows solar homeowners to sell their excess solar electricity back to the utility at the same price at which you would purchase it on the open market. This allows homeowners to store additional energy and offset some of the costs of solar when their panels produce more energy than needed for the month. Many utility companies offer net metering, however PECO Energy is known as being the best-in-class when it comes to net metering program in Pennsylvania.
Is Solar Worth It For Your Home or Business?
Solar energy continues to be one of the best investments for Pennsylvanians year after year. In fact, many PA homeowners are able to save more than $30,000 in electricity costs by switching to solar.
Contact Our Experienced Pennsylvania Solar Installers
At EcoGen America we are proud to help you analyze your solar options.
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