Solar Panel Cost Guide in Hornell, NY (Mar 2023)
- Hornell Solar Installation Cost: $9,520
- 25-Year Savings: $6,966
- Payback Period: 14.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hornell
Let's take a look at the average cost of solar in Hornell.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hornell, the average cost of solar panels is 2.95 per watt. Using this figure, a typical 4.6-kW system would cost about $9,520 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Hornell 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 large initial cost, the average Hornell homeowner can save around $14,000 on their power bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a reputable solar company in your area for a custom estimate.
Solar savings over time in Hornell
| Year | Return on Investment |
|---|---|
| 1 years | $-8,860 |
| 3 years | $-7,541 |
| 5 years | $-6,223 |
| 7 years | $-4,904 |
| 9 years | $-3,585 |
| 11 years | $-2,266 |
| 13 years | $-947 |
| 15 years | $372 |
| 17 years | $1,691 |
| 19 years | $3,010 |
| 21 years | $4,328 |
| 23 years | $5,647 |
| 25 years | $6,966 |
Top Solar Installers in Hornell
Installing solar panels yourself can be a time-consuming project, which is why getting a solar installer is a good option for many homeowners. Companies can also provide access to quality options of the best solar panels and help you pick which one will be right for your home.
If you're searching for a solar company in Hornell, the EcoWatch team has organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Hornell
Factors that Affect Solar Panel Costs in Hornell
The cost of installing a solar system in Hornell can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,950. The brand of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment consists of 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 searching for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Hornell to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Hornell is the company you get to install your solar panel system. Similar to 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. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $8,563 | 15.0 years |
| 8 kW | $3.01 | $16,850 | $11,748 | 14.7 years |
| 10 kW | $2.95 | $20,650 | $15,098 | 14.4 years |
| 12 kW | $2.89 | $24,284 | $18,613 | 14.2 years |
| 14 kW | $2.83 | $27,754 | $22,294 | 13.9 years |
| 16 kW | $2.77 | $31,058 | $26,140 | 13.6 years |
| 18 kW | $2.71 | $34,196 | $30,150 | 13.3 years |
| 20 kW | $2.66 | $37,170 | $34,326 | 13.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 timeline.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Hornell, NY Solar Cost FAQs
What is the average cost of installing solar panels in Hornell?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Hornell?
Solar panels aren't free in Hornell, 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.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Hornell, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.