Solar Panel Cost Guide in Groton, NY (2023 Update)
- Groton Solar Installation Cost: $9,622
- 25-Year Savings: $5,781
- Payback Period: 15.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Groton
Let's take a look at the average cost of solar panels in Groton.
In Groton, solar panels cost about 2.95 per watt on average. The average solar panel system size in Groton is around 4.7 kilowatts, meaning a cost of about $9,623 for a solar installation, or $13,761 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of equipment you choose, your solar contractor and more. For many homeowners, the upfront cost of solar panels is worth paying. On average Groton homeowners see about $13,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Groton
| Year | Return on Investment |
|---|---|
| 1 years | $-9,571 |
| 3 years | $-9,468 |
| 5 years | $-9,366 |
| 7 years | $-9,263 |
| 9 years | $-9,160 |
| 11 years | $-9,058 |
| 13 years | $-8,955 |
| 15 years | $-8,852 |
| 17 years | $-8,749 |
| 19 years | $-8,647 |
| 21 years | $-8,544 |
| 23 years | $-8,441 |
| 25 years | $-8,339 |
Top Solar Installers in Groton
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring a solar company can make swapping over to solar power much easier. Local solar companies can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
Working with a licensed solar installer can help you make the most of your investment in solar. 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 Groton
Factors that Affect Solar Panel Costs in Groton
There are many factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of a solar energy system in Groton, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past energy bills. Your total cost can increase by about $2,950 for each additional kilowatt you need. There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Groton is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services at different costs. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for and also fits within your budget.
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 | $6,948 | 16.2 years |
| 8 kW | $3.01 | $16,850 | $9,594 | 15.9 years |
| 10 kW | $2.95 | $20,650 | $12,406 | 15.6 years |
| 12 kW | $2.89 | $24,284 | $15,382 | 15.3 years |
| 14 kW | $2.83 | $27,754 | $18,524 | 15.0 years |
| 16 kW | $2.77 | $31,058 | $21,831 | 14.7 years |
| 18 kW | $2.71 | $34,196 | $25,304 | 14.4 years |
| 20 kW | $2.66 | $37,170 | $28,941 | 14.1 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which brand 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 options before deciding.
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- 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 past customers and solar experts like the EcoWatch team.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Groton, NY Solar Cost FAQs
How much does it cost to install solar panels in Groton?
This is a difficult question to answer exactly, because the cost depends on many 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Groton?
A solar panel system isn't free in Groton, 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 help lower the cost.
Is it worth going solar in Groton?
Solar panels can be a fruitful 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 energy bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.