Solar Panel Cost Guide in Gaines, NY (Mar 2023)
- Gaines Solar Installation Cost: $8,508
- 25-Year Savings: $7,699
- Payback Period: 13.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Gaines
Find out what the average cost of a solar system is in Gaines.
In Gaines, solar panels cost about 2.95 per watt on average. To cover the typical energy usage of the average home in Gaines, most homeowners require a 4.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,508, or $12,166 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Gaines homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Despite the large upfront cost, the average Gaines homeowner can save about $15,000 on their energy bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a reputable solar panel company in Gaines for a customized estimate.
Solar savings over time in Gaines
| Year | Return on Investment |
|---|---|
| 1 years | $-7,860 |
| 3 years | $-6,563 |
| 5 years | $-5,266 |
| 7 years | $-3,970 |
| 9 years | $-2,673 |
| 11 years | $-1,377 |
| 13 years | $-80 |
| 15 years | $1,216 |
| 17 years | $2,513 |
| 19 years | $3,810 |
| 21 years | $5,106 |
| 23 years | $6,403 |
| 25 years | $7,699 |
Top Solar Installers in Gaines
Many homeowners opt for a solar panel company since trying to put up solar panels by yourself can be hard. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are several 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
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 Gaines
Factors that Affect Solar Panel Costs in Gaines
For many Gaines homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Gaines, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require 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. The type of solar equipment you choose can increase or decrease your cost 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. However, more efficient panels could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Gaines average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Gaines, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Gaines, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $10,690 | 13.7 years |
| 8 kW | $3.01 | $16,850 | $14,584 | 13.4 years |
| 10 kW | $2.95 | $20,650 | $18,643 | 13.1 years |
| 12 kW | $2.89 | $24,284 | $22,867 | 12.9 years |
| 14 kW | $2.83 | $27,754 | $27,257 | 12.6 years |
| 16 kW | $2.77 | $31,058 | $31,811 | 12.4 years |
| 18 kW | $2.71 | $34,196 | $36,531 | 12.1 years |
| 20 kW | $2.66 | $37,170 | $41,416 | 11.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
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 Gaines, NY Solar Cost FAQs
How much does it cost to install solar panels in Gaines?
This is a difficult question to answer precisely, 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, 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 Gaines?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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 financial benefits from going solar.
Is it worth going solar in Gaines?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses 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 house 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.