Solar Panel Cost Guide in Cohoes, NY (2023 Update)
- Cohoes Solar Installation Cost: $9,189
- 25-Year Savings: $7,018
- Payback Period: 14.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Cohoes
We go over average solar pricing in Cohoes.
In Cohoes, solar panels cost about 2.95 per watt on average. Using this figure, a typical 4.5-kW system would cost about $9,189 before the 30% federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you will vary based on your energy needs and what company you choose to go with. With typical savings of about $14,000 on power bills over 20 years, many homeowners in Cohoes find going solar can pay off big.
To get a free quote from a pre-vetted solar company in Cohoes, you can click the button below.
Solar savings over time in Cohoes
| Year | Return on Investment |
|---|---|
| 1 years | $-8,541 |
| 3 years | $-7,244 |
| 5 years | $-5,948 |
| 7 years | $-4,651 |
| 9 years | $-3,355 |
| 11 years | $-2,058 |
| 13 years | $-762 |
| 15 years | $535 |
| 17 years | $1,832 |
| 19 years | $3,128 |
| 21 years | $4,425 |
| 23 years | $5,721 |
| 25 years | $7,018 |
Top Solar Installers in Cohoes
Although you can install solar panels by yourself, it takes extra effort and expertise. For that reason, almost all homeowners choose a solar panel installer. Another upside of working with a solar installer is that they can help you optimize your return of investment by lowering your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
There are several licensed solar professionals that can take care of your solar installation project. 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 Cohoes
Factors that Affect Solar Panel Costs in Cohoes
Even though the average cost of a solar system in Cohoes is $9,189, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major 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 pick also changes the cost. In many cases, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Cohoes, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Cohoes have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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
Since the model of solar panels and the installation company you choose greatly affects 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:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: The model of solar panel you'd like to get plays a role in which installer you should choose, since different companies provide different panels.
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
How much does it cost to install solar panels in Cohoes?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly 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. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Cohoes?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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 bang for your buck from going solar.
Does Cohoes have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 install 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.