Solar Panel Cost Guide in Geneva, NY (2023 Update)
- Geneva Solar Installation Cost: $9,540
- 25-Year Savings: $5,260
- Payback Period: 16.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Geneva
Let's take a look at the average cost of solar in Geneva.
In Geneva, solar panels cost about 2.95 per watt on average. Using this figure, a typical 4.6-kW system would cost about $9,540 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Geneva depending on several factors, such as the kind of solar panels you choose and the solar contractor you hire. Many homeowners find installing a solar system is a sound investment. The average homeowner in Geneva can save around $12,000 on their energy bills over 20 years.
To get a free quote from a highly rated solar installer in Geneva, you can click the button below.
Solar savings over time in Geneva
| Year | Return on Investment |
|---|---|
| 1 years | $-8,948 |
| 3 years | $-7,764 |
| 5 years | $-6,580 |
| 7 years | $-5,396 |
| 9 years | $-4,212 |
| 11 years | $-3,028 |
| 13 years | $-1,844 |
| 15 years | $-660 |
| 17 years | $524 |
| 19 years | $1,708 |
| 21 years | $2,892 |
| 23 years | $4,076 |
| 25 years | $5,260 |
Top Solar Installers in Geneva
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Using an installer can make converting to solar power much easier. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for you.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
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 Geneva
Factors that Affect Solar Panel Costs in Geneva
There are several criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Geneva, one of the most important 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 consumption, which you can gauge by looking at past power bills. Your total cost can increase by about $2,950 for each additional kilowatt you need. There are several different solar panel brands and the one you pick also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Geneva, and each can charge varying amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $3.07 | $12,886 | $6,320 | 16.8 years |
| 8 kW | $3.01 | $16,850 | $8,757 | 16.5 years |
| 10 kW | $2.95 | $20,650 | $11,360 | 16.1 years |
| 12 kW | $2.89 | $24,284 | $14,127 | 15.8 years |
| 14 kW | $2.83 | $27,754 | $17,060 | 15.5 years |
| 16 kW | $2.77 | $31,058 | $20,158 | 15.2 years |
| 18 kW | $2.71 | $34,196 | $23,421 | 14.8 years |
| 20 kW | $2.66 | $37,170 | $26,849 | 14.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose significantly influences 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:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before making your decision.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
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 Geneva, NY Solar Cost FAQs
How much does it cost to install solar panels in Geneva?
The average cost of solar panels in Geneva 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Geneva?
A solar panel system isn't free in Geneva, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.