Solar Panel Cost Guide in Ellicott, NY (Mar 2023)
- Ellicott Solar Installation Cost: $9,582
- 25-Year Savings: $5,396
- Payback Period: 16.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Ellicott
Here's how much it might cost to install solar panels in Ellicott.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ellicott, the average cost of solar panels is 2.95 per watt. The average Ellicott homeowner needs a 4.6-kilowatt system, which would cost about $9,582 with the federal tax credit, or $13,702 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more. Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Ellicott can save around $12,000 on their electricity bills over 20 years.
To receive a free quote from a pre-vetted solar installation company in Ellicott, you can click the button below.
Solar savings over time in Ellicott
| Year | Return on Investment |
|---|---|
| 1 years | $-8,983 |
| 3 years | $-7,784 |
| 5 years | $-6,586 |
| 7 years | $-5,388 |
| 9 years | $-4,190 |
| 11 years | $-2,992 |
| 13 years | $-1,793 |
| 15 years | $-595 |
| 17 years | $603 |
| 19 years | $1,801 |
| 21 years | $2,999 |
| 23 years | $4,197 |
| 25 years | $5,396 |
Top Solar Installers in Ellicott
Although you can install solar panels on your own, it requires extra time and expertise. For that reason, the majority of homeowners choose to hire a solar panel installer. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
Working with a vetted solar installer can help you make the most of your investment in solar. 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
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 Ellicott
Factors that Affect Solar Panel Costs in Ellicott
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Ellicott: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about 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 solar panels in cash is difficult, solar loans are a popular option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also adds to your total costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Ellicott is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services for different budgets. 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 come at a higher cost. It's best to do some research and decide on the company that offers the products, warranties and services you're looking for 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 | $6,492 | 16.6 years |
| 8 kW | $3.01 | $16,850 | $8,986 | 16.3 years |
| 10 kW | $2.95 | $20,650 | $11,645 | 16.0 years |
| 12 kW | $2.89 | $24,284 | $14,470 | 15.7 years |
| 14 kW | $2.83 | $27,754 | $17,460 | 15.3 years |
| 16 kW | $2.77 | $31,058 | $20,615 | 15.0 years |
| 18 kW | $2.71 | $34,196 | $23,935 | 14.7 years |
| 20 kW | $2.66 | $37,170 | $27,421 | 14.4 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar installer, be sure to read it through carefully 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 if there are any guarantees about energy production.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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 EcoWatch.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
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 Ellicott, NY Solar Cost FAQs
What is the average cost of installing solar panels in Ellicott?
The average cost of solar panels in Ellicott 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 things like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Ellicott?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside 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 option if you want to get the most savings.
Is it worth going solar in Ellicott?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 get 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.