Solar Panel Cost Guide in Gloversville, NY (2023 Update)
- Gloversville Solar Installation Cost: $9,210
- 25-Year Savings: $6,997
- Payback Period: 14.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Gloversville
Let's take a look at the average cost of solar in Gloversville.
Although the national average of solar panels is $2.66 per watt, solar panels in Gloversville typically cost about 2.95. Using this figure, a typical 4.5-kW system would cost about $9,210 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what installation company you go with. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on power bills.
Click the button below to get connected to a top solar panel company in Gloversville for a customized quote.
Solar savings over time in Gloversville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,562 |
| 3 years | $-7,265 |
| 5 years | $-5,968 |
| 7 years | $-4,672 |
| 9 years | $-3,375 |
| 11 years | $-2,079 |
| 13 years | $-782 |
| 15 years | $514 |
| 17 years | $1,811 |
| 19 years | $3,107 |
| 21 years | $4,404 |
| 23 years | $5,701 |
| 25 years | $6,997 |
Top Solar Installers in Gloversville
Many homeowners choose to use a solar installer since trying to put up solar panels on your own can be challenging. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
If you'd like to start using solar energy but still aren't sure which solar system installer to go with, here are our suggestions for providers nearby:
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 Gloversville
Factors that Affect Solar Panel Costs in Gloversville
Though the average cost of a solar system in Gloversville is $9,210, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,950 per kilowatt in Gloversville. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Gloversville, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Gloversville have solar loans, which reduce the initial cost of installing solar. 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Gloversville, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $8,895 | 14.8 years |
| 8 kW | $3.01 | $16,850 | $12,191 | 14.5 years |
| 10 kW | $2.95 | $20,650 | $15,652 | 14.2 years |
| 12 kW | $2.89 | $24,284 | $19,278 | 13.9 years |
| 14 kW | $2.83 | $27,754 | $23,069 | 13.7 years |
| 16 kW | $2.77 | $31,058 | $27,025 | 13.4 years |
| 18 kW | $2.71 | $34,196 | $31,147 | 13.1 years |
| 20 kW | $2.66 | $37,170 | $35,433 | 12.8 years |
How to Save on Solar Panels
The solar installer you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Warranty: If you care about the longevity of your solar system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Gloversville, NY Solar Cost FAQs
How much does it cost to install solar panels in Gloversville?
This is a difficult question to answer exactly, 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 cost more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Gloversville?
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.
Is it worth going solar in Gloversville?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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 home 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.