Solar Panel Cost Guide in Canastota, NY (2023 Update)
- Canastota Solar Installation Cost: $11,795
- 25-Year Savings: $5,970
- Payback Period: 19.0 Years
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Updated October 25, 2023
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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.To account for the typical energy needs of the average home in Canastota, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,795, or $16,867 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Canastota homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.For many homeowners, the upfront investment in solar power 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 top solar company in Canastota that can help you get a more accurate cost estimate 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
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make swapping over to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Canastota
Factors that Affect Solar Panel Costs in Canastota
There are a number of 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 installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 greater 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Canastota homeowners decide to finance their solar panel systems to make going solar more affordable.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
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 pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Canastota?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Does Canastota have a net metering program?
Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Canastota?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.