Solar Panel Cost Guide in Allegany, NY (2023 Update)
- Allegany Solar Installation Cost: $9,632
- 25-Year Savings: $6,176
- Payback Period: 15.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Allegany
Find out how much it might cost to switch to solar power in Allegany.
In Allegany, solar panels cost about 2.95 per watt on average. Since a 4.7-kW system is needed to cover the energy consumption of a typical home in Allegany, the average price of going solar will be about $9,623 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and your own solar costs will most likely look different based on factors unique to your home and what company you go with. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Allegany see about $13,000 in savings on utility bills over 20 years.
To get a free estimate from a highly rated solar installation company in Allegany, you can click the button below.
Solar savings over time in Allegany
| Year | Return on Investment |
|---|---|
| 1 years | $-9,580 |
| 3 years | $-9,474 |
| 5 years | $-9,369 |
| 7 years | $-9,263 |
| 9 years | $-9,158 |
| 11 years | $-9,053 |
| 13 years | $-8,947 |
| 15 years | $-8,842 |
| 17 years | $-8,736 |
| 19 years | $-8,631 |
| 21 years | $-8,526 |
| 23 years | $-8,420 |
| 25 years | $-8,315 |
Top Solar Installers in Allegany
Many homeowners decide to use a solar installer since trying to put up solar panels by yourself can be time-consuming. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Allegany
Factors that Affect Solar Panel Costs in Allegany
There are many criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of a solar system in Allegany, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past power bills. Your total cost can increase by around $2,950 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Allegany average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Allegany, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. Though solar loans make switching to solar energy more accessible for Allegany homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Allegany is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that offer a range of services at different price points. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.07 | $12,886 | $7,449 | 15.8 years |
| 8 kW | $3.01 | $16,850 | $10,263 | 15.5 years |
| 10 kW | $2.95 | $20,650 | $13,241 | 15.2 years |
| 12 kW | $2.89 | $24,284 | $16,385 | 14.9 years |
| 14 kW | $2.83 | $27,754 | $19,694 | 14.6 years |
| 16 kW | $2.77 | $31,058 | $23,168 | 14.3 years |
| 18 kW | $2.71 | $34,196 | $26,808 | 14.0 years |
| 20 kW | $2.66 | $37,170 | $30,612 | 13.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Contract: Before signing a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Allegany, NY Solar Cost FAQs
What is the average cost of installing solar panels in Allegany?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.