Solar Panel Cost Guide in Danby, NY (2023 Update)
- Danby Solar Installation Cost: $9,622
- 25-Year Savings: $5,178
- Payback Period: 16.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Danby
Let's have a look at the average cost of solar in Danby.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Danby, the average cost of solar panels is 2.95 per watt. Using this figure, a typical 4.7-kW system would cost about $9,623 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Danby homeowners. 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. Many homeowners find adopting solar power is a solid investment. The average homeowner in Danby can save about $12,000 on their power bills over 20 years.
To receive a free quote from a top solar installation company in Danby, you can click the button below.
Solar savings over time in Danby
| Year | Return on Investment |
|---|---|
| 1 years | $-9,573 |
| 3 years | $-9,474 |
| 5 years | $-9,376 |
| 7 years | $-9,277 |
| 9 years | $-9,178 |
| 11 years | $-9,080 |
| 13 years | $-8,981 |
| 15 years | $-8,882 |
| 17 years | $-8,784 |
| 19 years | $-8,685 |
| 21 years | $-8,586 |
| 23 years | $-8,488 |
| 25 years | $-8,389 |
Top Solar Installers in Danby
Installing solar panels by yourself can be a challenging task, which is why using a solar installer is a good option for many homeowners. Plus, if you're unsure what type of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Danby:
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 Danby
Factors that Affect Solar Panel Costs in Danby
Even though the average cost of a solar system in Danby is $9,623, your final cost may differ. 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 important things to take into consideration.
Solar Equipment
When it comes to estimating the price of solar panels in Danby, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Danby, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. Though solar loans make adopting solar energy more accessible for Danby homeowners, they can also raise 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
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Danby is the company you hire to install your PV system. Similar to 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. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $6,171 | 16.9 years |
| 8 kW | $3.01 | $16,850 | $8,559 | 16.6 years |
| 10 kW | $2.95 | $20,650 | $11,112 | 16.3 years |
| 12 kW | $2.89 | $24,284 | $13,829 | 15.9 years |
| 14 kW | $2.83 | $27,754 | $16,713 | 15.6 years |
| 16 kW | $2.77 | $31,058 | $19,761 | 15.3 years |
| 18 kW | $2.71 | $34,196 | $22,974 | 15.0 years |
| 20 kW | $2.66 | $37,170 | $26,353 | 14.6 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Danby, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
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 Danby, NY Solar Cost FAQs
What is the average cost of installing solar panels in Danby?
The average cost of solar panels in Danby is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Danby?
You can't get solar panels for free in Danby. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Is making the switch to solar worth it?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.