Solar Panel Cost Guide in Danby, NY (2023 Update)
- Danby Solar Installation Cost: $9,623
- 25-Year Savings: $5,177
- Payback Period: 16.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Danby
Here's how much it might cost to switch to solar power in Danby.
The average cost of a solar system in Danby 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.
Bear in mind that the figures above are only estimates based on the average energy use of Danby homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar power is worth paying. On average Danby homeowners see about $12,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar company in Danby for a personalized quote.
Solar savings over time in Danby
| Year | Return on Investment |
|---|---|
| 1 years | $-9,031 |
| 3 years | $-7,847 |
| 5 years | $-6,663 |
| 7 years | $-5,479 |
| 9 years | $-4,295 |
| 11 years | $-3,111 |
| 13 years | $-1,927 |
| 15 years | $-743 |
| 17 years | $441 |
| 19 years | $1,625 |
| 21 years | $2,809 |
| 23 years | $3,993 |
| 25 years | $5,177 |
Top Solar Installers in Danby
Installing solar panels yourself can be a stressful undertaking, which is why hiring a solar installation company is a good option for many homeowners. Companies can also offer access to quality options of the best solar panels and help you choose which one will be best for your family.
Working with a licensed solar company 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 Danby
Factors that Affect Solar Panel Costs in Danby
The cost of installing a solar system in Danby can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use 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 a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that offer higher efficiency tend to also cost more. 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 far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Danby offer solar loans, which reduce the initial cost of installing solar panels. While 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 make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Danby, and each can charge different amounts for labor and equipment. Additionally, some companies in Danby know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $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
The solar panel company you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Contract: Before signing a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable 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.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
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
How much does it cost to install 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 real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Danby?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels completely eradicate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Danby, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for 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 buy 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.