Solar Panel Cost Guide in Arcade, NY (2023 Update)
- Arcade Solar Installation Cost: $9,503
- 25-Year Savings: $5,999
- Payback Period: 15.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Arcade
Let's take a look at the average cost of solar panels in Arcade.
The national average cost of solar panels is $2.66 per watt, but in Arcade it's 2.95 per watt. To account for the typical energy usage of the average home in Arcade, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs around $9,499, or $13,584 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy usage and what installation company you go with. With typical savings of about $13,000 on electricity bills over 20 years, many homeowners in Arcade find investing in solar has a decent ROI.
You can click the button below to get connected with a top solar company in Arcade for a quote for your home.
Solar savings over time in Arcade
| Year | Return on Investment |
|---|---|
| 1 years | $-9,451 |
| 3 years | $-9,348 |
| 5 years | $-9,245 |
| 7 years | $-9,141 |
| 9 years | $-9,038 |
| 11 years | $-8,935 |
| 13 years | $-8,831 |
| 15 years | $-8,728 |
| 17 years | $-8,625 |
| 19 years | $-8,521 |
| 21 years | $-8,418 |
| 23 years | $-8,315 |
| 25 years | $-8,211 |
Top Solar Installers in Arcade
Installing solar panels by yourself can be a time-consuming task, which is why getting a solar installation company is a good option for many homeowners. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
If you'd like to make the switch to solar but still aren't certain which solar installer to go with, here are our recommendations for providers in Arcade:
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 Arcade
Factors that Affect Solar Panel Costs in Arcade
There are many criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,950. The kind of solar equipment you choose can increase or decrease your cost 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, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Arcade average.
Solar Financing Terms
Most solar installers in Arcade offer solar loans, which reduce your upfront costs of installing solar. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in Arcade, you'll have many options to choose from, but each comes at various price points for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $7,326 | 15.9 years |
| 8 kW | $3.01 | $16,850 | $10,099 | 15.6 years |
| 10 kW | $2.95 | $20,650 | $13,036 | 15.3 years |
| 12 kW | $2.89 | $24,284 | $16,139 | 15.0 years |
| 14 kW | $2.83 | $27,754 | $19,407 | 14.7 years |
| 16 kW | $2.77 | $31,058 | $22,841 | 14.4 years |
| 18 kW | $2.71 | $34,196 | $26,439 | 14.1 years |
| 20 kW | $2.66 | $37,170 | $30,203 | 13.8 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: When making the switch to solar, it's crucial to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
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 Arcade, NY Solar Cost FAQs
What is the average cost of installing solar panels in Arcade?
The average cost of solar panels in Arcade is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Arcade?
You can't get solar panels for free in Arcade. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How will having solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Arcade is currently $118,585, which means you can expect a value of about $4,862 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Arcade is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.