Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Lowered energy bills: With solar panels, you produce power without paying the tacked-on costs of grid-tied power. You can eliminate your bills completely if you go off-grid. Plus, a significant number of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: Embracing solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
- Better energy independence: Photovoltaic solar panel systems with energy storage systems operate through blackouts and emergencies, and you won't have to rely on the power grid for your safety and comfort.
What Solar Incentives Are Available to Reading Homeowners?
The state of Pennsylvania offers a number of solar incentives to help minimize your solar system costs. Below is a breakdown of relevant solar programs where you live.
Incentive Type: Loan Program
Website: newpa.comIncentive Amount:
Residential loans/loan guarantees: $100,000
Commercial loans/loan guarantees: $2 million
Grants: Lesser of 10% of project costs or $500,000
Incentive Type: Loan Program
Website: newpa.comIncentive Amount:
Manufacturer loans: $40,000 per job created within 3 years
Manufacturer grants: $5,000 per job created within 3 years
Loans for geothermal systems: $3 per square foot of space served up to $5 million; also limited to 50% of eligible costs for residential systems.
Loans for wind energy production projects: $5 million
Grants for wind energy production projects: $1 million
Grants for feasibility studies: 50% of cost up to $175,000
Loan guarantee grants: Up to 75% of deficient funds up to $5 million
Incentive Type: Solar Renewable Energy Credit Program
Website: pennaeps.comIncentive Amount:
Varies based on market conditions; during 2015 the market price for PA-sourced SRECs has ranged from approximately $32 - $55/MWh ($0.032 - $0.055/kWh) although individual trades have taken place at substantially lower and higher prices.
Incentive Type: Grant Program
Website: newpa.comIncentive Amount:
Vary by project, but program generally requires matching funds at least equivalent to DCED funding
Incentive Type: Rebate Program
Website: energysavepa-home.comIncentive Amount:
$500
Incentive Type: Rebate Program
Website: firstenergycorp.comIncentive Amount:
Appliances
Refrigerator: $75
Clothes Washer: $25- $50
Clothes Dryer: $50
Freezers: $25
Dehumidifiers: $25
Fridge/Freezer Recycling: $50
HVAC
HVAC tune up: $50
Furnace Fan Motor: $150
Ductless Minisplit AC : $200
Central AC: $100 - $200
Air Source Heat pump: $250 - $500
Geothermal Heat Pump: $600
Packaged Terminal AC: $75
Packaged Terminal Heat Pump: $150
Programmable Thermostat: $25
Others
Solar Water Heat: $500
Heat Pump Water Heater: $500
Home Energy Audit: $250
Lighting: Available as in-store discount in participating stores
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Reading
The more comprehensive your provider search is, the better your solar panels will ultimately operate. Here are some key items to bear in mind while shopping for a solar specialist.
Licensing and Training
The Commonwealth of Pennsylvania does not issue state-level contracting licenses, so each city or county can set its own requirements and terms. You should also visit a company's website to learn about its private certifications. Two of the most prestigious are the PV Installation Professional and Solar Heating Installer certificates, backed by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Reading
The type of solar panels you purchase dictates how much electricity you can generate. Monocrystalline panels and high-quality and cost more but give you the best performance. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies provide these additional features, so look for a provider that sells them if it's a priority for you.
A majority of Reading homeowners choose solar systems designed for five kilowatts (kW) of electrical capacity. These systems cost about $17,750 to set up, considering both materials and labor. You can see more specific solar cost information in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,126 |
Solar Polycrystalline | $879 |
Thin-Film | $514 |
Solar Battery | $721 |
Solar Home EV Charger | $2,703 |
Financing Solar Energy in Reading
There are various ways to pay for a solar energy system, and the right one will minimize your overhead. A few of the most common options include leases, cash payments, power purchase agreements (PPAs), and loans. Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like a home or car loan, you'll pay a set monthly rate with potentially $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate based only on the energy you use, like an electric bill. We usually don’t recommend these two choices because you won't own the solar system and are disqualified from using solar incentives. Look for installers that offer several payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Reading.
A 26% federal solar tax credit applies to new home solar systems purchased through 2032. Additional incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.5 years |
2 kW | 5.0 years |
5 kW | 12.5 years |
10 kW | 25.0 years |
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Frequently Asked Questions About Solar in Reading
How much energy and money could I save per year by switching to solar?
Is solar energy readily available in Reading?
Will a solar PV system raise my Reading home price?
How can I check my site's solar viability?
What's a Reading solar panel's average lifespan?
What maintenance do my solar panels need, and how frequently do they need it?
What are some "red flags" to watch for as I research companies?
- Pushy sales approach
- Dodging questions about warranties, references, cost and training and credentials
- Inflexible options
- Rushing through the site assessment
- Limited customer feedback
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