Discover the Costs and Savings of Going Solar with Pennstar Solar.
At Pennstar Solar, we understand that each property is unique. We provide customized solar solutions that consider your property’s specifics, such as roof size, orientation, and obstructions. Our team is committed to delivering the best solar experience, from design to installation and ongoing maintenance..
Solar System Costs
and Savings
At Pennstar Solar, we offer a range of solar system sizes to fit your needs. Remember, we creates a design specific to your energy goals, your home’s unique attributes, and your energy usage. The numbers below are meant to give you a ballpark idea of the cost of residential solar. These numbers assume roof mounted on a shingle roof and no major upgrades are required to your electrical system and your roof is in good condition. Batteries add addition costs but are required for backup functionality.
Pennstar will give you a no-obligation virtual free quote. We will verify all assumptions on-site to ensure accurate figures. Email us a copy of your most recent electric bill to hello@pennstarsolar.com and we can get started today!
Small 7 Kw System
- Cash Price: $21,000 ($3/watt)
- Cost after the 30% Tax Credit: $14,700
- Total projected lifetime savings including incentives (25yrs): $50,000
Average 10 Kw System
- Cash Price: $27,500 ($2,75/watt)
- Cost after the 30% Tax Credit: $19.250
- Total projected lifetime savings including incentives: $70,000
Large 20kw system
- Cash Price: $53,000 ($2.65/watt)
- Cost after the 30% Tax Credit: $37,100
- Total projected lifetime savings, including incentives: $150,000
Factors Affecting Solar Project Costs
- Design
- Site measurements
- Engineering stamp
- Permitting fees
- Materials (solar panels, racking equipment, inverter, monitoring system)
- Interconnection fees
- Upgrades (premium panels, extra rafters, breaker box, drywall work, main panel upgrade)
- Extended warranty
- EV Charger
- Operations & maintenance support
Cost
The cost of your system will depend on many factors, including size of your rooftop and the amount of electricity you use. Once we survey your property, we can provide suggestions and pricing on racking, panels, inverters, and possibly a battery system.
Available Incentives + 100% Financing
A 30% Federal Tax Credit is available for homes and businesses, and additional ‘Adders’ are available to non-profits and municipal entities. Also, most systems can be 100% financed. Pennstar can help you determine what makes the most economic sense for you.
SRECs
SRECs (or Solar Renewable Energy Credits) are another revenue stream for solar owners. The basic premise of SRECs: you can sell chunks of your solar energy production to your utility,(this is aside from the “net metering” program) Pennstar Solar will set your SRECs up such that as you produce energy, you also earn credits, which are automatically sold to your utility.
Payback Period
We have seen payback periods ranging from 5-years in New Jersey to 7-10-years in the Philadelphia, PA metro region to as little as 2-years for commercial projects. And remember, your system will produce for over 25-years+
Expected Savings
Your solar array will produce energy at a fixed rate (i.e., Solar Energy Generation Rate ) in $ / kWh. Without solar, you will be paying your utility company a higher rate for the same amount of energy, as utilities continue to increase rates every year.. The difference between these two rates determines your expected savings and payback period.
The beauty of solar is its rate is fixed for the life of the system, and under warranty for 25-years. Utility rates are subject to change and when they go up your savings with solar will go up!
Home Valuation
According to 2015 research from The Appraisal Institute and the U.S. Department of Energy, homes with solar sell for more than similar homes without. The study found an average home value increase of $3.780 per watt of solar panels across 6 states in the study.