Solar Panel Cost Guide in Cortland, NY (2023 Update)
- Cortland Solar Installation Cost: $9,600
- 25-Year Savings: $5,904
- Payback Period: 15.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cortland
Let's have a look at the average cost of solar in Cortland.
The average cost of solar panels in Cortland is 2.95 per watt. Using this figure, a typical 4.7-kW system would cost about $9,602 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar panels you want, your solar contractor and more. For most homeowners, the upfront investment in solar power is worth paying. On average Cortland homeowners see about $13,000 in savings on energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Cortland
| Year | Return on Investment |
|---|---|
| 1 years | $-8,774 |
| 3 years | $-7,122 |
| 5 years | $-5,470 |
| 7 years | $-3,818 |
| 9 years | $-2,166 |
| 11 years | $-515 |
| 13 years | $1,137 |
| 15 years | $2,789 |
| 17 years | $4,441 |
| 19 years | $6,093 |
| 21 years | $7,745 |
| 23 years | $9,396 |
| 25 years | $11,048 |
Top Solar Installers in Cortland
Although it's possible to install solar panels yourself, it takes extra labor and know-how. Because of that, most homeowners choose to go with a solar panel installer. The payback period of solar panels will vary depending on factors like your location and energy usage, but working with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
If you're looking for a solar company in Cortland, we've compiled a list of our top suggestions here:
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 Cortland
Factors that Affect Solar Panel Costs in Cortland
While the average cost of a solar system in Cortland is $9,602, your final cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you're looking to install 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
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Cortland, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Cortland is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services for different budgets. Additionally, some companies in Cortland have more knowledge about local solar incentives and can help you take advantage of 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 | $7,124 | 16.1 years |
| 8 kW | $3.01 | $16,850 | $9,829 | 15.8 years |
| 10 kW | $2.95 | $20,650 | $12,699 | 15.5 years |
| 12 kW | $2.89 | $24,284 | $15,735 | 15.2 years |
| 14 kW | $2.83 | $27,754 | $18,936 | 14.9 years |
| 16 kW | $2.77 | $31,058 | $22,302 | 14.6 years |
| 18 kW | $2.71 | $34,196 | $25,833 | 14.2 years |
| 20 kW | $2.66 | $37,170 | $29,529 | 13.9 years |
How to Save on Solar Panels
The solar company 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 a few important things you should keep in mind, including:
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. 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 peruse their list of options before deciding.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Contract: Before signing a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers 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 Cortland, NY Solar Cost FAQs
How much does it cost to install solar panels in Cortland?
This is a tough question to answer precisely, because the cost depends on many 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Cortland?
You can't get solar panels for free in Cortland. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Cortland is currently $125,200, so you can expect a value of about $5,133 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Cortland is a fruitful investment.
How long do solar panels last in Cortland?
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 the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.