Solar Panel Cost Guide in Homer, NY (2024 Update)
- Homer Solar Installation Cost: $11,878
- 25-Year Savings: $6,004
- Payback Period: 19.0 Years
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Average Cost of Solar Panels in Homer
We break down average solar pricing in Homer.
The average cost of solar panels in Homer is 4 per watt.To account for the typical energy usage of the average home in Homer, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,878, or $16,986 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Homer homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Despite the high upfront cost, the average Homer homeowner can save about $13,000 on their energy bills over 20 years, which is one of the advantages of solar.
To get a free estimate from a top solar installer in Homer, you can click the button below.
Solar savings over time in Homer
| Year | Return on Investment |
|---|---|
| 1 years | $-11,019 |
| 3 years | $-9,301 |
| 5 years | $-7,583 |
| 7 years | $-5,865 |
| 9 years | $-4,147 |
| 11 years | $-2,429 |
| 13 years | $-711 |
| 15 years | $1,007 |
| 17 years | $2,725 |
| 19 years | $4,443 |
| 21 years | $6,161 |
| 23 years | $7,879 |
| 25 years | $9,597 |
Top Solar Installers in Homer
Many homeowners decide to use a solar installation company since trying to put up solar panels yourself can be a labor-intensive endeavor. Plus, if you’d like to maximize your investment in solar, opting for a solar installer can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
If you’d like to go solar but still aren’t certain which solar system company to go with, here are our suggestions for providers in Homer:
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
See all of the solar companies in Homer
Factors that Affect Solar Panel Costs in Homer
There are a number of criteria that can affect 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 panel system in Homer, 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 consumption, which you can determine by looking at past energy bills. Your overall cost can increase by about $3,650 for each additional kilowatt you need.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Homer homeowners choose to finance their solar panel systems to offset upfront costs.When trying to figure out 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
Lastly, the company you choose to install your solar system can affect how much it costs. Homer’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $3.80 | $15,943 | $4,196 | 19.8 years |
| 8 kW | $3.72 | $20,849 | $6,004 | 19.4 years |
| 10 kW | $3.65 | $25,550 | $8,016 | 19.0 years |
| 12 kW | $3.58 | $30,047 | $10,232 | 18.6 years |
| 14 kW | $3.50 | $34,339 | $12,653 | 18.3 years |
| 16 kW | $3.43 | $38,427 | $15,278 | 17.9 years |
| 18 kW | $3.36 | $42,311 | $18,107 | 17.5 years |
| 20 kW | $3.29 | $45,990 | $21,141 | 17.1 years |
How to Save on Solar Panels
The solar company you opt for will affect not only your overall costs, but also the kinds 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 keep in mind, including:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: The kind of solar panel you need plays a part in which installer you should choose, since different companies have access to different panels.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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
EcoWatch's Homer, NY Solar Cost FAQs
What is the average cost of installing solar panels in Homer?
This is a difficult question to answer precisely, because the cost depends on many 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Homer?
A solar panel system isn’t free in Homer, 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.
Can you sell solar power back to the grid in Homer?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.