Whether you live in Newtown or Doylestown, Philadelphia or Abington, Willow Grove or Langhorne, Levittown or Fairless Hills:
There has never been a better time to go solar in Pennsylvania than right now and Exact Solar is the PA solar installer to call. Across PA, the economics are especially favorable for solar energy systems that create electricity, also called solar PV (photovoltaic) systems, because the price of panels and other system components has plummeted over the past 5 years. Additionally, the 30% federal tax credit is still available on the retail price of the system.
Residential solar energy systems typically cost $3.00 to $4.00 per watt (installed, before the federal tax credit). So a 5 kW system costs around $15,000 to $20,000, depending on the complexity of the installation. Subtract from that 30% and your out-of-pocket expense is $10,000 to $14,000.
At current electricity rates, in PA it generally takes about 7 – 10 years for a solar electric (PV) system to pay for itself — that’s a 10%+ return on your investment!. After that, your own solar “power plant” creates electricity for you using a free and abundant energy source, forever offsetting your energy expenses, and producing electricity that never goes up in price…no mining, drilling, transporting, or re-fueling required.
At today’s prices, your own residential solar energy system, will provide you with electricity at a rate of about 7 – 8 cents/kWh over the next 20 years. (In PA, most people are paying the utility company about 15 cents/kWh today…and that will continue to go up over time.).
Increase the value of your home
A solar energy system (PV or thermal) increases the value of your home. The systems last for 30+ years with minimal maintenance required. Read an article on how a solar energy system increases the value of your home in our news section.
Earn income year after year
SREC values in PA, although lower than in the past, have the potential to increase in the coming years. Each SREC earned by your Pennsylvania solar energy system can be sold to a utility company. The utility companies are required to purchase a certain percentage of their energy each year from renewable sources and your SRECs help them meet that goal. While currently SRECs in PA are worth very little, there are legislators in Harrisburg working to fix our state’s SREC market. In the future, SRECs may provide you with a decent level of regular, ongoing income, increasing the ROI of your home solar panel system.