Solar Panel Cost Guide in Marion, NY (Mar 2023)
- Marion Solar Installation Cost: $8,962
- 25-Year Savings: $7,081
- Payback Period: 14.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Marion
Let's have a look at the average cost of solar panels in Marion.
In Marion, solar panels cost about 2.95 per watt on average. The average solar panel system size in Marion is around 4.3 kilowatts, meaning a cost of about $8,962 for a solar installation, or $12,816 before the 30% federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will most likely look different based on your energy needs and what company you want to go with. With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Marion find installing solar panels can be quite rewarding.
Click the button below to get connected to a vetted solar company in Marion for a custom quote.
Solar savings over time in Marion
| Year | Return on Investment |
|---|---|
| 1 years | $-8,320 |
| 3 years | $-7,037 |
| 5 years | $-5,753 |
| 7 years | $-4,470 |
| 9 years | $-3,187 |
| 11 years | $-1,903 |
| 13 years | $-620 |
| 15 years | $664 |
| 17 years | $1,947 |
| 19 years | $3,231 |
| 21 years | $4,514 |
| 23 years | $5,797 |
| 25 years | $7,081 |
Top Solar Installers in Marion
Many homeowners choose to hire a solar installation company since trying to put up solar panels on your own can be a labor-intensive endeavor. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for your family.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Marion:
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 Marion
Factors that Affect Solar Panel Costs in Marion
Even though the average cost of a solar system in Marion is $8,962, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
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, you can expect your total to increase by about $2,950. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Marion, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your all-in costs, so it's crucial to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating in Marion, and each can charge different amounts for labor and equipment. Additionally, some companies in Marion know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $9,305 | 14.5 years |
| 8 kW | $3.01 | $16,850 | $12,737 | 14.2 years |
| 10 kW | $2.95 | $20,650 | $16,335 | 14.0 years |
| 12 kW | $2.89 | $24,284 | $20,097 | 13.7 years |
| 14 kW | $2.83 | $27,754 | $24,025 | 13.4 years |
| 16 kW | $2.77 | $31,058 | $28,118 | 13.1 years |
| 18 kW | $2.71 | $34,196 | $32,376 | 12.8 years |
| 20 kW | $2.66 | $37,170 | $36,799 | 12.6 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Marion, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: The brand of solar panel you want to install plays a role in which company you should choose, since different companies offer different panels.
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 Marion, NY Solar Cost FAQs
How much does it cost to install solar panels in Marion?
The average cost of solar panels in Marion is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Marion?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 financial benefits from going solar.
Is going solar worth it?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Marion?
On average, the lifespan of solar panels is 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 higher amount 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.