Solar Panel Cost Guide in Marcy, NY (2023 Update)
- Marcy Solar Installation Cost: $9,540
- 25-Year Savings: $6,667
- Payback Period: 14.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Marcy
We break down average solar pricing in Marcy.
Although the national average of solar panels is $2.66 per watt, solar panels in Marcy typically cost around 2.95. Because a 4.6-kW system is needed to cover the energy costs of a typical home in Marcy, the average price of going solar will be about $9,540 after claiming the federal solar tax credit of 30%.
How much you pay can be higher or lower than the average in Marcy based on a variety of factors, such as the type of solar panels you choose and the solar company you hire. With average savings of about $13,000 on electricity bills over 20 years, many homeowners in Marcy find installing solar panels has a decent ROI.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Marcy
| Year | Return on Investment |
|---|---|
| 1 years | $-9,486 |
| 3 years | $-9,378 |
| 5 years | $-9,270 |
| 7 years | $-9,162 |
| 9 years | $-9,054 |
| 11 years | $-8,946 |
| 13 years | $-8,838 |
| 15 years | $-8,729 |
| 17 years | $-8,621 |
| 19 years | $-8,513 |
| 21 years | $-8,405 |
| 23 years | $-8,297 |
| 25 years | $-8,189 |
Top Solar Installers in Marcy
Although it's possible to install solar panels on your own, it requires extra time and know-how. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be best for you.
If you'd like to switch to solar energy but still aren't sure which solar system installer to go with, here are our suggestions for providers in Marcy:
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 Marcy
Factors that Affect Solar Panel Costs in Marcy
The cost of installing a solar system in Marcy can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system you need, 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 to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,950. The type of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Marcy homeowners opt to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's important to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in Marcy, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering 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 | $3.07 | $12,886 | $8,163 | 15.3 years |
| 8 kW | $3.01 | $16,850 | $11,215 | 15.0 years |
| 10 kW | $2.95 | $20,650 | $14,432 | 14.7 years |
| 12 kW | $2.89 | $24,284 | $17,814 | 14.4 years |
| 14 kW | $2.83 | $27,754 | $21,361 | 14.1 years |
| 16 kW | $2.77 | $31,058 | $25,073 | 13.8 years |
| 18 kW | $2.71 | $34,196 | $28,951 | 13.5 years |
| 20 kW | $2.66 | $37,170 | $32,994 | 13.2 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Marcy, NY Solar Cost FAQs
What is the average cost of installing solar panels in Marcy?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Marcy?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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.
Does Marcy have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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 install 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.