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It’s Never Been Easier to Go Solar in Pennsylvania
Pennsylvania households consume 8% more electricity than the average household in the United States and spend about 16% more than other Americans to power their homes1. With rates predicted to rise further in the next decade, many Pennsylvanians are choosing to invest in a solar panel system for their home.
The cost for a domestic solar system is lower now than it has ever been before. Coupled with local and federal incentives, American homeowners are finding that solar is more affordable than ever. With the right plan in place, many of our customers are able to utilize solar energy in their homes for $0 down!
The solar movement is gaining momentum in Pennsylvania. By investing in solar, homeowners are able to lock-in their energy rates for the next 25-years. No longer subject to fluctuating power costs, homeowners can better prepare for the future. If you’re thinking about solar, this article will provide you with the information you need to get started.
Powering Your Home with a Solar System
While a home in Pennsylvania cannot expect to generate as much solar energy as a home in sunnier states, the average Pennsylvanian household can generate a great majority of their power with a solar panel system. Net metering in Pennsylvania will allow you to bank credits during those sunny periods so you have enough power to get through the darker days of winter.
In most cases, solar panels will be installed on your roof at an angle that will best capture sun throughout the day. When sunlight hits these panels, direct current (DC) energy is generated. This energy flows into an inverter, where it is converted into alternating current (AC) energy that can be used by your household appliances. A meter keeps track of the energy generated and consumed by your home.
Save on Solar in Pennsylvania with These Rebates and Incentives
There are several initiatives in place to help homeowners reduce the overall cost of going solar. The most powerful of these incentives is the federal solar tax credit. Two programs at the state level provide further incentives for Pennsylvanians to invest in solar.
Federal Solar Investment Tax Credit (ITC) – 30% Savings on Your Solar System
The ITC is the strongest of all incentives available to American homeowners right now. This program essentially lets you reduce the cost of purchasing and installing a solar panel system by 30%. The rebate is given in the form of a tax credit, allowing you to reduce your tax liability by 30% of the cost of your system at the end of the year. The ITC can be used if you purchase your system outright or take out a loan, but it cannot be used if you decide to lease a system.
Net Metering in Pennsylvania
Pennsylvania’s net metering policy allows you to sell any electricity you don’t use back to the power grid. In Pennsylvania, excess energy can be sold at the same price that you would purchase it. Since most homes are not able to generate enough energy for their year-round requirements, net metering allows homeowners to bank credits towards their energy use, so they can use it when energy production is low.
Solar Renewable Energy Credit (SRECs)
Pennsylvania has set a goal of getting 18% of its electricity from renewable sources by the year 2020. One of the ways they plan to achieve this is through the Solar Renewable Energy Credit (SREC) program. Utility companies are required to produce or purchase a certain amount of energy from renewable sources, but it’s easier and cheaper for the utilities to buy from homeowners who are producing solar energy at home.
For every megawatt-hour (MWh) of solar energy produced by your home solar system, you’ll receive one SREC. Homeowners with a 5-kW system can expect to receive around $200 per year from these credits.
Paying for Your Solar Panel System
The cost for a typical 5kW residential solar system in Pennsylvania is just under $17,000. You have several options available when it comes to obtaining a solar panel system for your home.
- Purchase in full: Homeowners who are able to pay for their systems outright will see the most savings because they won’t be paying interest on a loan. They’ll also be able to utilize the 30% federal tax credit. When you pay for your system outright, you can expect to save around $21,000 over the 25-year lifespan of your system.
- Take out a loan: There are several loans that can be used to pay for your solar system, including a home-equity line of credit. Loans are a great choice for anyone who wants to start enjoying the cost savings associated with going solar immediately. After your loan is paid off, you can expect to save around $14,000 over 25 years. Loans are a way to go solar with $0 upfront investment required.
- Lease your panels: If you aren’t able to take out a loan, a lease or a solar PPA (power purchase agreement) could be a good option for you. A lease lets you lock in your energy costs with a fixed cost per kWh that is lower than the cost of electricity from the grid, so you’ll benefit from solar while enjoying savings over the years. Since electricity costs in Pennsylvania are relatively high, you can expect to save at least $120 per year on electricity with a leased system. As electricity costs continue to rise, your savings will be further increased. With a lease or PPA, you can experience the cost savings of solar energy, without the need for any upfront cash investment.
Why Choose Momentum Solar
We are an owner-operated company that is committed to helping Pennsylvanians make the switch to clean, solar energy. We assist our customers with each step of their solar journey – from helping them finance and plan their system to providing support after the solar system is installed.
Our solar panels have received a Tier 1 quality rating, as determined by independent analysts, which means they are among the most reliable and effective solar panels available on the market today. We stand by our products and offer our customers at 25-year warranty on our solar panels and systems.
Our experience in planning, installing, and maintaining residential solar systems in Pennsylvania has made us a top choice in the local market. We are able to provide solar systems for $0, making solar energy attainable for most homeowners in Pennsylvania. If you’re ready to go solar today or you just want to ask some questions, we encourage you to contact us. Our team will be happy to answer your questions and provide a free no-obligation quote to you.
Find Out if Switching to Solar is Right for You
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