Solar Panel Cost Guide in Elma, NY (Sep 2022)

  • Elma Solar Installation Cost: $9,458
  • 25-Year Savings: $5,577
  • Payback Period: 15.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Elma

We break down average solar pricing in Elma.

While the national average of solar panels is $2.66 per watt, solar panels in Elma generally cost around $3. Using this figure, a typical 4.6 would cost about $9,458 before the 30% federal solar tax credit is applied.

How much you pay can go above or below the average in Elma based on a few factors, such as the brand of solar panels you choose and the solar installer you hire. For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Elma see about $12,000 in savings on energy bills over 20 years.

You can click the button below to get connected with a top solar installer in Elma that can help you get a more accurate cost estimate for your home.

Solar savings over time in Elma

Year Return on Investment
1 years $-8,856
3 years $-7,654
5 years $-6,451
7 years $-5,248
9 years $-4,045
11 years $-2,843
13 years $-1,640
15 years $-437
17 years $766
19 years $1,969
21 years $3,171
23 years $4,374
25 years $5,577

Top Solar Installers in Elma

Although you can install solar panels yourself, it takes extra time and handiness. For that reason, most people choose to hire a solar panel installer. Solar warranties and repairs are ordinarily included in the cost of installation when you opt for a solar company too, which can save you more money after your upfront investment.

You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Elma

Factors that Affect Solar Panel Costs in Elma

The cost of installing a solar system in Elma can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment Size

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size. Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,950. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Elma, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Most solar installers in Elma have solar loans, which reduce the initial cost of installing solar panels. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.

Solar Panel Installation Company

The remaining major cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Elma, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Companies that 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 provides the products, warranties and services you're looking for and also fit into 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 $6,820 16.3 years
8 kW $3.01 $16,850 $9,424 16.0 years
10 kW $2.95 $20,650 $12,193 15.7 years
12 kW $2.89 $24,284 $15,127 15.4 years
14 kW $2.83 $27,754 $18,227 15.1 years
16 kW $2.77 $31,058 $21,491 14.8 years
18 kW $2.71 $34,196 $24,921 14.5 years
20 kW $2.66 $37,170 $28,516 14.1 years

Solar Incentives in Elma

Name Residential Solar Tax Credit
Incentive Amount 25% for solar-electric (PV) and solar-thermal systems; for third-party owned systems this is in reference to the aggregate amount owed under the contract rather than the amount owed in any single year
Incentive Max $5,000 for solar-energy systems
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Local Option - Real Property Tax Exemption for Green Buildings
Incentive Amount Upon local adoption, 20% - 100% of real property taxes owed; varies by year and certification level
Website Visit here
More Info Click here

Name NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business)
Incentive Amount Incentive rates step down over time as MW goals are met. Incentive rates as of 11/27/2019 are:

Residential:
Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.30/W
Upstate Region: $0.35/W
Low-to-Moderate income customers: $0.80/W (up to 10 kW)

Small Commercial (Non-Residential):Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.60/W
Up State Region: $0.45/W

Multifamily Affordable Housing Adder: additional $0.40/W (up to 50 kW)
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR
Website Visit here
More Info Click here

Name NY Green Bank
Website Visit here
More Info Click here

Name Local Option - Solar Sales Tax Exemption
Incentive Amount Upon local authorization, 100% exemption from local sales tax
More Info Click here

Name Solar Sales Tax Exemption
Incentive Amount 100% exemption from state sales tax
Website Visit here
More Info Click here

Name Energy Conservation Improvements Property Tax Exemption
Incentive Amount 100% of the value added to the residence by the improvements
Website Visit here
More Info Click here

Name NY-Sun Loan Program
Website Visit here
More Info Click here

Name Local Option - Solar, Wind & Biomass Energy Systems Exemption
Incentive Amount 100% exemption for 15 years (unless local jurisdiction has opted out)
Website Visit here
More Info Click here

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
  • Contract: Read the contract terms closely to make sure you understand the overall cost, project completion timeline incentives and warranties.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Elma, NY Solar Cost FAQs

How much does it cost to install solar panels in Elma?

The average cost of solar panels in Elma 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 cost the most important consideration when buying solar panels?

The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

How much can I save on power bills after installing solar panels?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Elma, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.

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