Solar Panel Cost Guide in Cohoes, NY (2023 Update)
- Cohoes Solar Installation Cost: $9,197
- 25-Year Savings: $7,010
- Payback Period: 14.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cohoes
We break down average solar pricing in Cohoes.
The national average cost of solar panels is $2.66 per watt, but in Cohoes it's 2.95 per watt. Since a 4.5-kW system is needed to cover the energy consumption of a typical home in Cohoes, the average price of going solar will be about $9,189 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Cohoes 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 most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Cohoes see about $14,000 in savings on utility bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cohoes
| Year | Return on Investment |
|---|---|
| 1 years | $-8,288 |
| 3 years | $-6,471 |
| 5 years | $-4,654 |
| 7 years | $-2,837 |
| 9 years | $-1,020 |
| 11 years | $798 |
| 13 years | $2,615 |
| 15 years | $4,432 |
| 17 years | $6,249 |
| 19 years | $8,066 |
| 21 years | $9,883 |
| 23 years | $11,700 |
| 25 years | $13,518 |
Top Solar Installers in Cohoes
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring an installer can make your swap to solar power much easier. Also, if you'd like to maximize your investment in solar energy, using a solar company can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
Working with a vetted solar company can help you make the most of your investment in solar. 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
See all of the solar companies in Cohoes
Factors that Affect Solar Panel Costs in Cohoes
Even though the average cost of a solar system in Cohoes is $9,189, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require 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. There are several different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install 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
Many homeowners find the average cost of solar in Cohoes to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time because of interest. Even though solar loans make going solar more accessible for Cohoes homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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
The solar installer you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Cohoes, and each can charge varying amounts for labor and equipment. Additionally, some companies in Cohoes are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $8,949 | 14.8 years |
| 8 kW | $3.01 | $16,850 | $12,262 | 14.5 years |
| 10 kW | $2.95 | $20,650 | $15,740 | 14.2 years |
| 12 kW | $2.89 | $24,284 | $19,384 | 13.9 years |
| 14 kW | $2.83 | $27,754 | $23,193 | 13.6 years |
| 16 kW | $2.77 | $31,058 | $27,167 | 13.3 years |
| 18 kW | $2.71 | $34,196 | $31,306 | 13.1 years |
| 20 kW | $2.66 | $37,170 | $35,610 | 12.8 years |
How to Save on Solar Panels
There are numerous companies available in Cohoes, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Reputation: Companies that have been operating for many years likely have a high 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 service, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, be sure to look it over carefully 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 what services you can expect from them.
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 Cohoes, NY Solar Cost FAQs
What is the average cost of installing solar panels in Cohoes?
This is a hard question to answer precisely, 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 more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Cohoes?
A solar panel system isn't free in Cohoes, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $727.80 per year.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires 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.