Solar Panel Cost Guide in Erwin, NY (2023 Update)
- Erwin Solar Installation Cost: $9,523
- 25-Year Savings: $6,963
- Payback Period: 14.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Erwin
See how much it might cost to switch to solar power in Erwin.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Erwin, the average cost of solar panels is 2.95 per watt. To cover the typical energy usage of the average home in Erwin, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs around $9,520, or $13,614 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average Erwin homeowner. 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. Despite the high initial cost, the average Erwin homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the perks of solar.
To get a free quote from a pre-vetted solar company in Erwin, you can click the button below.
Solar savings over time in Erwin
| Year | Return on Investment |
|---|---|
| 1 years | $-8,697 |
| 3 years | $-7,045 |
| 5 years | $-5,393 |
| 7 years | $-3,742 |
| 9 years | $-2,090 |
| 11 years | $-438 |
| 13 years | $1,214 |
| 15 years | $2,866 |
| 17 years | $4,518 |
| 19 years | $6,170 |
| 21 years | $7,821 |
| 23 years | $9,473 |
| 25 years | $11,125 |
Top Solar Installers in Erwin
Putting up solar panels by yourself can be a dangerous project, which is why getting a solar installer is a good option for many homeowners. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
There are a number of licensed solar professionals that can help you install your solar system. 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 Erwin
Factors that Affect Solar Panel Costs in Erwin
There are many factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of solar panels in Erwin, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,950 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 over time on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Erwin average.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they lower your upfront costs and let you pay for your system over five to seven years on average. 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 original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Erwin, and each can charge different amounts for labor and equipment. The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $8,563 | 15.0 years |
| 8 kW | $3.01 | $16,850 | $11,748 | 14.7 years |
| 10 kW | $2.95 | $20,650 | $15,098 | 14.4 years |
| 12 kW | $2.89 | $24,284 | $18,613 | 14.2 years |
| 14 kW | $2.83 | $27,754 | $22,294 | 13.9 years |
| 16 kW | $2.77 | $31,058 | $26,140 | 13.6 years |
| 18 kW | $2.71 | $34,196 | $30,150 | 13.3 years |
| 20 kW | $2.66 | $37,170 | $34,326 | 13.0 years |
How to Save on Solar Panels
There are a large number of companies available in Erwin, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: The model of solar panel you need to install plays a role in which company you should opt for, since different companies have access to different panels.
- Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Erwin, NY Solar Cost FAQs
What is the average cost of installing solar panels in Erwin?
The average cost of solar panels in Erwin is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Erwin, 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.
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 usually 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.