Solar Panel Cost Guide in Canastota, NY (2023 Update)
- Canastota Solar Installation Cost: $9,540
- 25-Year Savings: $5,963
- Payback Period: 15.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Canastota
Let's take a look at the average cost of solar panels in Canastota.
Although the national average of solar panels is $2.66 per watt, solar panels in Canastota generally cost about 2.95. The average solar panel system size in Canastota is around 4.6 kilowatts, meaning a cost of about $9,540 for a solar installation, or $13,642 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy consumption and what company you go with. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $13,000 over 20 years on utility bills.
Click the button below to get connected to a reputable solar company in your area for a custom estimate.
Solar savings over time in Canastota
| Year | Return on Investment |
|---|---|
| 1 years | $-8,920 |
| 3 years | $-7,680 |
| 5 years | $-6,440 |
| 7 years | $-5,199 |
| 9 years | $-3,959 |
| 11 years | $-2,719 |
| 13 years | $-1,478 |
| 15 years | $-238 |
| 17 years | $1,002 |
| 19 years | $2,242 |
| 21 years | $3,483 |
| 23 years | $4,723 |
| 25 years | $5,963 |
Top Solar Installers in Canastota
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of an installer can make converting to solar power much easier. A solar company can also help save you money in the long run by offering warranties, repairs and system component replacements.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our recommendations for providers in Canastota:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Canastota
Factors that Affect Solar Panel Costs in Canastota
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Canastota: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,950. There are several different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Canastota offer solar loans, which reduce the initial cost of installing solar. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Canastota is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services for different budgets. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $7,264 | 16.0 years |
| 8 kW | $3.01 | $16,850 | $10,016 | 15.7 years |
| 10 kW | $2.95 | $20,650 | $12,933 | 15.4 years |
| 12 kW | $2.89 | $24,284 | $16,015 | 15.1 years |
| 14 kW | $2.83 | $27,754 | $19,262 | 14.8 years |
| 16 kW | $2.77 | $31,058 | $22,675 | 14.5 years |
| 18 kW | $2.71 | $34,196 | $26,252 | 14.1 years |
| 20 kW | $2.66 | $37,170 | $29,995 | 13.8 years |
How to Save on Solar Panels
There are numerous companies available in Canastota, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: If you're concerned about the longevity of your solar panel system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Before you sign a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure 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.
- Solar Panel Brands: The type of solar panel you'd like to install plays a role in which installer you should opt for, since different companies offer different panels.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Canastota, NY Solar Cost FAQs
How much does it cost to install solar panels in Canastota?
The average cost of solar panels in Canastota 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.
Should I lease or buy solar panels in Canastota?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Can solar panels significantly reduce my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Canastota, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 cover 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.