Solar Panel Cost Guide in Geddes, NY (2023 Update)
- Geddes Solar Installation Cost: $9,561
- 25-Year Savings: $4,224
- Payback Period: 17.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Geddes
Find out what the average cost of solar panel installation is in Geddes.
In Geddes, solar panels cost about 2.95 per watt on average. The average solar panel system size in Geddes is around 4.6 kilowatts, meaning a cost of about $9,561 for a solar installation, or $13,672 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar system you want, your solar contractor and more. With typical savings of about $11,000 on utility bills over 20 years, many homeowners in Geddes find investing in solar can be quite rewarding.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Geddes
| Year | Return on Investment |
|---|---|
| 1 years | $-9,010 |
| 3 years | $-7,907 |
| 5 years | $-6,804 |
| 7 years | $-5,701 |
| 9 years | $-4,598 |
| 11 years | $-3,496 |
| 13 years | $-2,393 |
| 15 years | $-1,290 |
| 17 years | $-187 |
| 19 years | $916 |
| 21 years | $2,018 |
| 23 years | $3,121 |
| 25 years | $4,224 |
Top Solar Installers in Geddes
Putting up solar panels on your own can be a challenging project, which is why hiring a solar installer is a good option for many homeowners. The payback period on an investment in solar panels will vary based on factors like your location and energy needs, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
There are various licensed solar professionals that can install solar panels for you. 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 Geddes
Factors that Affect Solar Panel Costs in Geddes
The cost of installing a solar system in Geddes can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $2,950 per kilowatt in Geddes. The model of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also increases your overall costs, so it's crucial to include that in your estimate 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
Finally, the company you hire to install your solar panels can play a role in determining the cost. Geddes' solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally 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 | $4,970 | 18.0 years |
| 8 kW | $3.01 | $16,850 | $6,958 | 17.7 years |
| 10 kW | $2.95 | $20,650 | $9,110 | 17.3 years |
| 12 kW | $2.89 | $24,284 | $11,428 | 17.0 years |
| 14 kW | $2.83 | $27,754 | $13,910 | 16.7 years |
| 16 kW | $2.77 | $31,058 | $16,558 | 16.3 years |
| 18 kW | $2.71 | $34,196 | $19,372 | 16.0 years |
| 20 kW | $2.66 | $37,170 | $22,350 | 15.6 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Geddes, NY Solar Cost FAQs
What is the average cost of installing solar panels in Geddes?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly 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 cost more if you want additional 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 efficient solar panels.
Is it better to lease or buy solar panels in Geddes?
Leasing solar panels can be an option if you are unable to 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 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.
How will installing solar panels impact my property value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Geddes?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.