Solar Panel Cost Guide in Corinth, NY (2023 Update)
- Corinth Solar Installation Cost: $9,259
- 25-Year Savings: $6,948
- Payback Period: 14.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Corinth
Find out how much it might cost to install solar panels in Corinth.
In Corinth, solar panels cost about 2.95 per watt on average. The average solar panel system size in Corinth is around 4.5 kilowatts, meaning a cost of about $9,251 for a solar installation, or $13,229 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of making the switch to solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what installation company you go with. But, once you've paid the upfront cost of installation, the payback for most homeowners is typically good, with a net average savings of about $14,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Corinth
| Year | Return on Investment |
|---|---|
| 1 years | $-9,205 |
| 3 years | $-9,097 |
| 5 years | $-8,989 |
| 7 years | $-8,881 |
| 9 years | $-8,773 |
| 11 years | $-8,665 |
| 13 years | $-8,557 |
| 15 years | $-8,449 |
| 17 years | $-8,341 |
| 19 years | $-8,233 |
| 21 years | $-8,125 |
| 23 years | $-8,017 |
| 25 years | $-7,909 |
Top Solar Installers in Corinth
Trying to install solar panels yourself can be a stressful task, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be useful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
Working with a professional 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
See all of the solar companies in Corinth
Factors that Affect Solar Panel Costs in Corinth
There are a number of criteria that can play into your total 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 panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation 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. The kind of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your overall costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Corinth is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services for different budgets. Additionally, some companies in Corinth know more about local solar incentives and can help you make good use 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 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 | $8,801 | 14.9 years |
| 8 kW | $3.01 | $16,850 | $12,065 | 14.6 years |
| 10 kW | $2.95 | $20,650 | $15,494 | 14.3 years |
| 12 kW | $2.89 | $24,284 | $19,088 | 14.0 years |
| 14 kW | $2.83 | $27,754 | $22,848 | 13.7 years |
| 16 kW | $2.77 | $31,058 | $26,772 | 13.4 years |
| 18 kW | $2.71 | $34,196 | $30,862 | 13.1 years |
| 20 kW | $2.66 | $37,170 | $35,118 | 12.9 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining 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 consider, including:
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
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 Corinth, NY Solar Cost FAQs
How much does it cost to install solar panels in Corinth?
This is a difficult question to answer exactly, 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. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Corinth?
Leasing solar panels can be an option if you are unable to 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 home 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 financial benefits from going solar.
Does Corinth have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
How long do solar panels last in Corinth?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using 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.