Solar Panel Cost Guide in Elmira, NY (2024 Update)
- Elmira Solar Installation Cost: $11,776
- 25-Year Savings: $5,282
- Payback Period: 19.9 Years
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Average Cost of Solar Panels in Elmira
Let’s take a look at the average cost of solar panels in Elmira.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Elmira, the typical cost of solar panels is 4 per watt.To cover the typical energy usage of the average home in Elmira, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,776, or $16,840 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Elmira homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a solid investment. The average homeowner in Elmira can save about $12,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Elmira
| Year | Return on Investment |
|---|---|
| 1 years | $-10,950 |
| 3 years | $-9,298 |
| 5 years | $-7,647 |
| 7 years | $-5,995 |
| 9 years | $-4,343 |
| 11 years | $-2,691 |
| 13 years | $-1,039 |
| 15 years | $613 |
| 17 years | $2,264 |
| 19 years | $3,916 |
| 21 years | $5,568 |
| 23 years | $7,220 |
| 25 years | $8,872 |
Top Solar Installers in Elmira
Putting up solar panels by yourself can be a challenging undertaking, which is why using a solar installation company is a good option for many homeowners. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Elmira
Factors that Affect Solar Panel Costs in Elmira
The cost of installing a solar system in Elmira 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 home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Elmira, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $3,650 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Elmira, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, 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 companies in Elmira provide solar loans, which reduce the initial cost of installing solar.However, the interest on solar loans also adds to your all-in costs, so it’s important to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions 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 | $3.80 | $15,943 | $3,323 | 20.7 years |
| 8 kW | $3.72 | $20,849 | $4,839 | 20.3 years |
| 10 kW | $3.65 | $25,550 | $6,560 | 19.9 years |
| 12 kW | $3.58 | $30,047 | $8,485 | 19.5 years |
| 14 kW | $3.50 | $34,339 | $10,615 | 19.1 years |
| 16 kW | $3.43 | $38,427 | $12,949 | 18.7 years |
| 18 kW | $3.36 | $42,311 | $15,487 | 18.3 years |
| 20 kW | $3.29 | $45,990 | $18,230 | 17.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Elmira, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Elmira, NY Solar Cost FAQs
How much does it cost to install solar panels in Elmira?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, 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 Elmira?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels completely eradicate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Elmira, 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 install between 20 and 35 panels to account for 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.