Solar Panel Cost Guide in Geneva, NY (2024 Update)
- Geneva Solar Installation Cost: $11,813
- 25-Year Savings: $5,252
- Payback Period: 20.0 Years
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Average Cost of Solar Panels in Geneva
Find out what the average cost of a solar system is in Geneva.
The average cost of a solar panel system in Geneva is 4 per watt.Because a 4.6-kW system is needed to cover the energy needs of a typical home in Geneva, the average price of going solar will be about $11,813 after claiming the federal solar tax credit of 0.
The true price you pay can be above or below the average in Geneva depending on several factors, such as the brand of solar panels you choose and the solar installer you hire.Despite the significant upfront cost, the average Geneva homeowner can save about $12,000 on their power bills over 20 years, which is one of the benefits of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Geneva
| Year | Return on Investment |
|---|---|
| 1 years | $-10,987 |
| 3 years | $-9,335 |
| 5 years | $-7,684 |
| 7 years | $-6,032 |
| 9 years | $-4,380 |
| 11 years | $-2,728 |
| 13 years | $-1,076 |
| 15 years | $576 |
| 17 years | $2,227 |
| 19 years | $3,879 |
| 21 years | $5,531 |
| 23 years | $7,183 |
| 25 years | $8,835 |
Top Solar Installers in Geneva
Trying to put up solar panels yourself can be a stressful task, which is why using a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over time.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Geneva:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Geneva
Factors that Affect Solar Panel Costs in Geneva
For many Geneva homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Geneva, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The brand of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Geneva homeowners choose to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of loans, including the amount of 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 interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Geneva is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that offer a range of services at different costs.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $3,263 | 20.8 years |
| 8 kW | $3.72 | $20,849 | $4,759 | 20.4 years |
| 10 kW | $3.65 | $25,550 | $6,460 | 20.0 years |
| 12 kW | $3.58 | $30,047 | $8,365 | 19.6 years |
| 14 kW | $3.50 | $34,339 | $10,474 | 19.2 years |
| 16 kW | $3.43 | $38,427 | $12,788 | 18.8 years |
| 18 kW | $3.36 | $42,311 | $15,306 | 18.4 years |
| 20 kW | $3.29 | $45,990 | $18,029 | 18.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: Before you sign a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: The brand of solar panel you need to get plays a role in which installer you should choose, since different companies have different panels.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Geneva, NY Solar Cost FAQs
What is the average cost of installing solar panels in Geneva?
This is a hard question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Does Geneva have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Even 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 decide to replace them after having 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.