Solar Panel Cost Guide in Canastota, NY (2024 Update)
- Canastota Solar Installation Cost: $11,795
- 25-Year Savings: $5,970
- Payback Period: 19.0 Years
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Average Cost of Solar Panels in Canastota
Find out what the average cost of solar panel installation is in Canastota.
The national average cost of solar panels is $2.66 per watt, but in Canastota it’s 4 per watt.The average Canastota homeowner needs a 4.6-kilowatt system, which would cost about $11,795 with the federal tax credit, or $16,867 before the 0 tax credit is applied.
How much you pay can be higher or lower than the average in Canastota based on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront investment in solar panels is worth paying. On average Canastota homeowners see about $13,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Canastota for a quote for your home.
Solar savings over time in Canastota
| Year | Return on Investment |
|---|---|
| 1 years | $-10,969 |
| 3 years | $-9,317 |
| 5 years | $-7,666 |
| 7 years | $-6,014 |
| 9 years | $-4,362 |
| 11 years | $-2,710 |
| 13 years | $-1,058 |
| 15 years | $594 |
| 17 years | $2,246 |
| 19 years | $3,897 |
| 21 years | $5,549 |
| 23 years | $7,201 |
| 25 years | $8,853 |
Top Solar Installers in Canastota
Although it's possible to install solar panels by yourself, it requires extra effort and handiness. Because of that, most people choose a solar panel installer. Plus, if you’re unsure what type of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Canastota
Factors that Affect Solar Panel Costs in Canastota
Even though the average cost of a solar system in Canastota is $11,795, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the price of a solar panel system in Canastota, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by about $3,650 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Canastota to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you select will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that offers the products, warranties and services you want and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $4,206 | 19.8 years |
| 8 kW | $3.72 | $20,849 | $6,017 | 19.4 years |
| 10 kW | $3.65 | $25,550 | $8,033 | 19.0 years |
| 12 kW | $3.58 | $30,047 | $10,252 | 18.6 years |
| 14 kW | $3.50 | $34,339 | $12,677 | 18.3 years |
| 16 kW | $3.43 | $38,427 | $15,305 | 17.9 years |
| 18 kW | $3.36 | $42,311 | $18,138 | 17.5 years |
| 20 kW | $3.29 | $45,990 | $21,175 | 17.1 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: The type of solar panel you’d like to get plays a part in which company you should choose, since different companies have different panels.
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
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 $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind 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, because it typically comes with low or $0 upfront payments. The downside 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 option if you want to get the most savings.
Does Canastota have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.