Solar Panel Cost Guide in East Bloomfield, NY (Mar 2023)
- East Bloomfield Solar Installation Cost: $9,520
- 25-Year Savings: $6,949
- Payback Period: 14.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in East Bloomfield
Find out how much it might cost to go solar in East Bloomfield.
In East Bloomfield, solar panels cost about 2.95 per watt on average. The average East Bloomfield homeowner needs a 4.6-kilowatt system, which would cost about $9,520 with the federal tax credit, or $13,614 before the 30% tax credit is applied.
The true cost of your system can be higher or lower than the average in East Bloomfield depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. Many homeowners find going solar is a solid investment. The average homeowner in East Bloomfield can save about $14,000 on their power bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in East Bloomfield
| Year | Return on Investment |
|---|---|
| 1 years | $-8,861 |
| 3 years | $-7,543 |
| 5 years | $-6,226 |
| 7 years | $-4,908 |
| 9 years | $-3,591 |
| 11 years | $-2,274 |
| 13 years | $-956 |
| 15 years | $361 |
| 17 years | $1,679 |
| 19 years | $2,996 |
| 21 years | $4,314 |
| 23 years | $5,631 |
| 25 years | $6,949 |
Top Solar Installers in East Bloomfield
Many homeowners decide to use a solar panel company since trying to install solar panels on your own can be time-consuming. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 East Bloomfield
Factors that Affect Solar Panel Costs in East Bloomfield
The cost of installing a solar system in East Bloomfield can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of 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 production 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 several different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. Additionally, 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
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in East Bloomfield, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. Though solar loans make going solar more accessible for East Bloomfield homeowners, they can also raise the total you pay for your system, depending on your interest rate. 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
Lastly, the company you get to install your solar panels can play a part in determining how much you pay. East Bloomfield's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a company that offers the products, warranties and services you want and also fits within your budget.
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 | $8,551 | 15.0 years |
| 8 kW | $3.01 | $16,850 | $11,732 | 14.7 years |
| 10 kW | $2.95 | $20,650 | $15,078 | 14.4 years |
| 12 kW | $2.89 | $24,284 | $18,589 | 14.2 years |
| 14 kW | $2.83 | $27,754 | $22,266 | 13.9 years |
| 16 kW | $2.77 | $31,058 | $26,107 | 13.6 years |
| 18 kW | $2.71 | $34,196 | $30,114 | 13.3 years |
| 20 kW | $2.66 | $37,170 | $34,286 | 13.0 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Solar Panel Brands: The kind of solar panel you'd like plays a part in which company you should opt for, since different companies offer different panels.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous 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
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 East Bloomfield, NY Solar Cost FAQs
What is the average cost of installing solar panels in East Bloomfield?
This is a difficult question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in East Bloomfield?
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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in East Bloomfield is currently $217,065, so you can expect a value of about $8,900 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in East Bloomfield is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can 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.