Solar Panel Cost Guide in Malone, NY (2024 Update)
- Malone Solar Installation Cost: $12,331
- 25-Year Savings: $5,772
- Payback Period: 19.6 Years
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Average Cost of Solar Panels in Malone
We go over average solar pricing in Malone.
While the national average of solar panels is $2.66 per watt, solar panels in Malone generally cost around 4.The average Malone homeowner needs a 4.8-kilowatt system, which would cost about $12,331 with the federal tax credit, or $17,633 before the 0 tax credit is applied.
The true cost of your system can go above or below the average in Malone depending on several factors, such as the kind of solar panels you choose and the solar contractor you hire.With typical savings of about $12,000 on power bills over 20 years, many homeowners in Malone find investing in solar can pay off big.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Malone
| Year | Return on Investment |
|---|---|
| 1 years | $-11,450 |
| 3 years | $-9,688 |
| 5 years | $-7,925 |
| 7 years | $-6,163 |
| 9 years | $-4,401 |
| 11 years | $-2,639 |
| 13 years | $-877 |
| 15 years | $885 |
| 17 years | $2,647 |
| 19 years | $4,409 |
| 21 years | $6,171 |
| 23 years | $7,933 |
| 25 years | $9,695 |
Top Solar Installers in Malone
When going solar, many homeowners opt to hire a solar company since installing a solar system yourself can be a challenging project. Local solar companies can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Malone
Factors that Affect Solar Panel Costs in Malone
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Malone: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Malone, 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 gauge by looking at past electricity bills. Your overall cost can increase by about $3,650 for each additional kilowatt you need.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Malone provide solar loans, which reduce your upfront costs of installing a solar system.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the growing popularity of green energy solutions in Malone, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $3,623 | 20.4 years |
| 8 kW | $3.72 | $20,849 | $5,239 | 20.0 years |
| 10 kW | $3.65 | $25,550 | $7,060 | 19.6 years |
| 12 kW | $3.58 | $30,047 | $9,086 | 19.2 years |
| 14 kW | $3.50 | $34,339 | $11,315 | 18.8 years |
| 16 kW | $3.43 | $38,427 | $13,749 | 18.4 years |
| 18 kW | $3.36 | $42,311 | $16,388 | 18.0 years |
| 20 kW | $3.29 | $45,990 | $19,231 | 17.6 years |
How to Save on Solar Panels
There are numerous companies available in Malone, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Malone, NY Solar Cost FAQs
How much does it cost to install solar panels in Malone?
The average cost of solar panels in Malone is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Malone, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power 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 typically produce about 250 to 400 watt-hours per hour, the average house 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.