Solar Panel Cost Guide in Cortland, NY (Mar 2023)
- Cortland Solar Installation Cost: $9,602
- 25-Year Savings: $5,901
- Payback Period: 15.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Cortland
Find out what the average cost of a solar system is 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.
The true cost of your system can go higher or lower than the average in Cortland depending on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. But, after you've paid the initial cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $13,000 over 20 years on electricity bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Cortland
| Year | Return on Investment |
|---|---|
| 1 years | $-8,982 |
| 3 years | $-7,742 |
| 5 years | $-6,502 |
| 7 years | $-5,261 |
| 9 years | $-4,021 |
| 11 years | $-2,781 |
| 13 years | $-1,540 |
| 15 years | $-300 |
| 17 years | $940 |
| 19 years | $2,180 |
| 21 years | $3,421 |
| 23 years | $4,661 |
| 25 years | $5,901 |
Top Solar Installers in Cortland
Although it's possible to install solar panels on your own, it involves extra energy and expertise. That's why most people choose a solar panel installer. Some solar companies, especially local ones, can help you make the most of incentives in Cortland, optimizing your ROI.
There are several 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Cortland
Factors that Affect Solar Panel Costs in Cortland
For many Cortland homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Cortland, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,950. The kind of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on 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 into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they decrease 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 all-in costs, so it's important to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind 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. As with choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that offer a range of services for different budgets. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Contract: Review the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: The brand of solar panel you'd like plays a role in which company you should opt for, since different companies have 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Cortland, NY Solar Cost FAQs
What is the average cost of installing solar panels in Cortland?
The average cost of solar panels in Cortland is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Cortland?
Leasing solar panels can be an option if you can't afford to pay upfront or secure 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 savings from going solar.
How will installing solar panels impact the value of my home?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Cortland?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.