Solar Panel Cost Guide in Elma Center, NY (2023 Update)
- Elma Center Solar Installation Cost: $9,458
- 25-Year Savings: $5,342
- Payback Period: 16.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Elma Center
Let's have a look at the average cost of solar in Elma Center.
In Elma Center, solar panels cost about 2.95 per watt on average. The average Elma Center homeowner needs a 4.6-kilowatt system, which would cost about $9,458 with the federal tax credit, or $13,525 before the 30% tax credit is applied.
These figures are just averages, and your own solar costs may vary based on your energy needs and what company you choose to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Elma Center can save about $12,000 on their energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Elma Center
| Year | Return on Investment |
|---|---|
| 1 years | $-8,866 |
| 3 years | $-7,682 |
| 5 years | $-6,498 |
| 7 years | $-5,314 |
| 9 years | $-4,130 |
| 11 years | $-2,946 |
| 13 years | $-1,762 |
| 15 years | $-578 |
| 17 years | $606 |
| 19 years | $1,790 |
| 21 years | $2,974 |
| 23 years | $4,158 |
| 25 years | $5,342 |
Top Solar Installers in Elma Center
Many homeowners choose to hire a solar installer since installing solar panels on your own can be challenging. Plus, if you're not certain what kind of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Elma Center
Factors that Affect Solar Panel Costs in Elma Center
Although the average cost of a solar system in Elma Center is $9,458, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Elma Center average.
Solar Financing Terms
Most solar installers in Elma Center have solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Elma Center, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $6,513 | 16.6 years |
| 8 kW | $3.01 | $16,850 | $9,014 | 16.3 years |
| 10 kW | $2.95 | $20,650 | $11,681 | 16.0 years |
| 12 kW | $2.89 | $24,284 | $14,512 | 15.6 years |
| 14 kW | $2.83 | $27,754 | $17,509 | 15.3 years |
| 16 kW | $2.77 | $31,058 | $20,671 | 15.0 years |
| 18 kW | $2.71 | $34,196 | $23,999 | 14.7 years |
| 20 kW | $2.66 | $37,170 | $27,491 | 14.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose considerably influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Contract: When reading over your solar company'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.
- Solar Panel Brands: The type of solar panel you need plays a role in which installer you should choose, since different companies offer different panels.
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 Elma Center, NY Solar Cost FAQs
How much does it cost to install solar panels in Elma Center?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally 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 usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Elma Center?
A solar panel system isn't free in Elma Center, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs 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.