Solar Panel Cost Guide in Gates, NY (Mar 2023)
- Gates Solar Installation Cost: $8,611
- 25-Year Savings: $8,405
- Payback Period: 12.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Gates
We go over average solar pricing in Gates.
The average cost of a solar panel system in Gates is 2.95 per watt. Using this figure, a typical 4.2-kW system would cost about $8,611 before the 30% federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you will most likely look different based on your energy needs and what company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average Gates homeowners see about $16,000 in savings on electricity bills over 20 years.
To get a free estimate from a pre-vetted solar company in Gates, you can click the button below.
Solar savings over time in Gates
| Year | Return on Investment |
|---|---|
| 1 years | $-7,930 |
| 3 years | $-6,569 |
| 5 years | $-5,208 |
| 7 years | $-3,846 |
| 9 years | $-2,485 |
| 11 years | $-1,124 |
| 13 years | $237 |
| 15 years | $1,599 |
| 17 years | $2,960 |
| 19 years | $4,321 |
| 21 years | $5,683 |
| 23 years | $7,044 |
| 25 years | $8,405 |
Top Solar Installers in Gates
When making the switch to solar, many homeowners decide to hire a solar installer since DIY solar panel installation can be a challenging project. Plus, if you're not certain what kind of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Gates:
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 Gates
Factors that Affect Solar Panel Costs in Gates
For many Gates homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Gates, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Gates, 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 power bills. Your overall cost can increase by around $2,950 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also changes the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Gates homeowners opt to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also increases your total costs, so it's vital to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Gates, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and bulk 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 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 | $11,602 | 13.2 years |
| 8 kW | $3.01 | $16,850 | $15,800 | 12.9 years |
| 10 kW | $2.95 | $20,650 | $20,163 | 12.6 years |
| 12 kW | $2.89 | $24,284 | $24,691 | 12.4 years |
| 14 kW | $2.83 | $27,754 | $29,384 | 12.1 years |
| 16 kW | $2.77 | $31,058 | $34,243 | 11.9 years |
| 18 kW | $2.71 | $34,196 | $39,266 | 11.6 years |
| 20 kW | $2.66 | $37,170 | $44,455 | 11.4 years |
How to Save on Solar Panels
There are many companies available in Gates, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While 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 take a look at their list of options before deciding.
- Warranty: If you're worried about the longevity of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
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 Gates, NY Solar Cost FAQs
What is the average cost of installing solar panels in Gates?
The average cost of solar panels in Gates 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 things like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Gates?
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 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 savings from going solar.
Does Gates have a net metering program?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need 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 typically 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.