Solar vs. grid power: how much can you save?
Electricity rates are on the rise. The U.S Energy Information Administration (EIA) estimates that electricity prices in the U.S. rose 6.2% in 2023 alone.
Homeowners across the country are looking for ways to reduce their energy costs and many are turning to solar energy. But just how much can you save with solar and is it worth the investment?
Solar customers can often save tens of thousands of dollars over the lifespan of their solar system. To determine exactly how much you can save, you’ll have to do a little math.
Compare your current cost per kW from PECO Energy Co with the cost per kW of your solar system. Then calculate your monthly or yearly expenses across a 25-year period. Finally, subtract your total cost of energy with solar from your total of energy from the grid to determine your savings
A simpler way to estimate your savings potential is to compare your current monthly energy costs with your projected solar payments. If your energy costs are higher than your solar payments, there is a good chance you will see savings.
At Solar Cost Calculator, we suggest that anybody paying more than $100 a month for electricity should consider solar.
What solar incentives PECO Energy Co does offer?
Category : Financial Incentive
Website : https://solutions.peco-energy.com/equipment-incentives
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Multifamily Residential, Institutional
Incentive Amount : Lighting Varies widely by equipment type, see program website. HVAC Air Cooled Air Conditioner <5.4 tons: $40/Ton Air Cooled Air Conditioner ≥5.4 and <11.25 tons: $50/Ton Air Cooled Air Conditioner ≥11.25 and <20 tons: $60/Ton Air Cooled Air Conditioner ≥20 and <63.33 tons: $1,400/Unit Air Cooled Air Conditioner ≥63.33 tons: $1,600/Unit Air Cooled Heat Pumps <5.4 tons: $75/Ton Air Cooled Heat Pumps ≥5.4 and <11.25 tons: $85/Ton Air Cooled Heat Pumps ≥11.25 and <20 tons: $85/Ton Air Cooled Heat Pumps ≥20 tons: $1,800/Unit Ductless Mini-Split Heat Pump: $50/Ton Packaged Terminal Systems <0.66 tons: $45/Ton Packaged Terminal Systems ≥0.66 and <0.875 tons: $48/Ton Packaged Terminal Systems ≥0.875 tons: $50/Ton Water Cooled Heat Pump <1.4 tons: $150/Pump Water Cooled Heat Pump 1.4–5.4 tons: $250/Pump ECM Circulation Fan: $30/Fan Economizer Controls <5.4 Tons: $100/Unit Economizer Controls 5.4–20 Tons: $200/Unit Economizer Controls >20 Tons: $300/Unit Hotel Guest Room Occupancy Sensor: $45/Per Room Air Cooled Chiller <75 Tons, HVAC: $1,550/Unit Air Cooled Chiller 75–150 Tons, HVAC: $3,100/Unit Water Cooled Centrifugal Chiller ≥150 tons and greater: $20/Ton Water Cooled Positive Displacement or Reciprocating Chiller ≥75 tons and greater: $20/Ton Motors and Drives Varies widely by equipment type, see program website. Compressed Air Cycling Refrigerated Thermal Mass Dryer: $20 Compressor No-loss Condensate Drain: $50/Drain Storage Tanks for Load/No Load Screw Compressors <50 HP: $800/Unit Storage Tanks for Load/No Load Screw Compressors 50–150 HP: $1,000/Unit Storage Tanks for Load/No Load Screw Compressors >150 HP: $1,500/Unit Variable Speed Air Compressor: ≤50 HP $2,200/Compressor Variable Speed Air Compressor: 51–100 HP $4,400/Compressor Variable Speed Air Compressor: 101–150 HP $6,200/Compressor New Construction Lighting Power Density: ≥5% better than code: $0.10/kWh Saved Whole Building: >5% to 10% better than code: $0.15/kWh Saved Whole Building: 11–20% better than code: $0.16/kWh Saved Whole Building: 21–30% better than code: $0.17/kWh Saved Whole Building—Design Incentive: Up to $25,000 Application Data Centers Computer Room Air Conditioner <5.4 tons: $350/Per CRAC Computer Room Air Conditioner 5.4–20 tons: $550/Per CRAC Computer Room Air Conditioner >20 tons: $750/Per CRAC Computer Room Air Handler, variable speed: $30/Ton PC Power Management System: $6/Pc Controlled Uninterruptible Power Supply: $1,500/Unit Water Cooled Centrifugal Chiller: <150 tons $20/Ton Water Cooled Positive Displacement or Reciprocating Chiller <75 tons: $20/Ton Refrigeration & Food Service Add Doors to Open Refrigerated Cases: $45/Door Air Cooled Refrigeration Condenser: $250/Unit Anti-Sweat Heater Controls: $60/Door Automatic Door Closers for Walk-in Coolers: $40/Door Automatic Door Closers for Walk-in Freezers: $60/Door Door Gaskets: $50/Door Evaporative Fan Controls: $30/Controller Evaporator Coil Defrost Control: $104/Controller Evaporator Fan EC Motor for Reach-in Cases: $25/Motor Evaporator Fan EC Motor for Walk-in Cases: $30/Motor Floating-head Pressure Controls: $1,000/Control LED Refrigeration Case Lighting, Open Case, Refrigerator or Freezer: $0.10/kWh Saved LED Refrigeration Case Lighting, Reach-in Case, Refrigerator or Freezer: $30/Door Night Cover for Display Cases: $20/Case Suction Pipe Insulation for Walk-in Coolers: $150/System Suction Pipe Insulation for Walk-in Freezers: $180/System Variable Speed Refrigeration Compressor: $2,000/Compressor Zero Energy Doors: $40/Door Custom $0.10 kWh Saved
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.peco.com/WaystoSave/ForYourHome/Pages/NaturalGasRebatesCredits.aspx
Applicable Sectors : Residential, Low Income Residential
Incentive Amount : High efficiency boiler: $350 ENERGY STAR High efficiency furnace: $350 - $600 (95 - 97% AFUE) Natural Gas Combi Boiler: $1,000 Natural Gas Boiler: $350 Natural Gas Storage Tank Water Heater: $125 Natural Gas Clothes Dryer: $15 Natural Gas Furnace Fan Motor: $50 Natural Gas Heating Conversion Rebate: $200
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.peco.com/WaysToSave/ForYourHome/Pages/RebatesDiscounts.aspx
Applicable Sectors : Residential
Incentive Amount : Energy Star Appliances Air Purifier: $25 Bathroom Vent Fan: $20 Clothes Washer: $25 Dehumidifier: $50 Electric/Natural Gas Clothes Dryer: $15 Heat Pump Clothes Dryer: $75 Heat Pump Water Heater: $350 Natural Gas Storage Tank Water Heater: $100 - $125 Refrigerator: $20 Room AC: $10 HVAC Central AC System: $150 - $200 Air Source Heat Pump System: $200 - $300 Air Source Heat Pump Maintenance: $25 ECM Fan Motor: $50 Ductless Heat Pump: $150 - $300 Variable Speed Pool Pump: $200 Instant rebates available for LED lighting, see program site for details
Implementing Sector : Utility
Category : Regulatory Policy
Website : http://www.puc.pa.gov/consumer_info/electricity/alternative_energy.aspx
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Agricultural, Institutional
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : https://www.reinvestment.com/initiatives/clean_energy/sdf/
Applicable Sectors : Commercial, Industrial, Nonprofit, Schools
Incentive Amount :
Implementing Sector : Local
Category : Regulatory Policy
Website : http://www.puc.pa.gov/filing_resources/issues_laws_regulations/act_129_information.aspx
Applicable Sectors : Investor-Owned Utility
Incentive Amount :
Implementing Sector : State
Net metering with PECO Energy Co
Category : Regulatory Policy
Website : http://www.puc.pa.gov/consumer_info/electricity/alternative_energy.aspx
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Agricultural, Institutional
Incentive Amount :
Implementing Sector : State
Installing and connecting your solar system
When you install a solar system in PECO Energy Co territory, these are steps you can expect to go through:
Once you’ve hired a contractor, you will need to communicate with PECO Energy Co to prepare the interconnection paper. Your contractor will handle most of these responsibilities
After the interconnection agreement has been finalized, your contractor can begin the installation process.
Once your system is installed, it needs to be inspected for safety and code compliance.
After the final inspection, you will receive a written notice within a few days that your system is approved to operate. You can turn on the system yourself or you can contact your installer for further assistance.
Most homeowners prefer to do it themselves. The whole process should only take 10 - 15 minutes.
Is solar worth it for PECO Energy Co customers?
The short and sweet answer is a resounding YES. Going solar is definitely worth it for PECO Energy Co customers. The average homeowner in _UtilityCompanyName_ can save an estimated #### over the lifespan of their solar system.
Going solar is a long game so you need to think several years ahead. It can take a few years to hit your break even period. But between net metering and solar incentives, you can drastically reduce that timeframe.
Want to get an idea for what it will cost you to go solar with PECO Energy Co? You can use our Solar Cost Calculator to generate a customized estimate instantly. We take into consideration a wide range of criteria including location, electric bill, roof size, and other factors. Try it out today and start planning for your future.
