Solar Panel Cost Guide in Medina, NY (Mar 2023)
- Medina Solar Installation Cost: $8,508
- 25-Year Savings: $7,699
- Payback Period: 13.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Medina
Let's take a look at the average cost of solar in Medina.
Although the national average of solar panels is $2.66 per watt, solar panels in Medina generally cost about 2.95. Using this figure, a typical 4.1-kW system would cost about $8,508 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of making the switch to solar can vary based on multiple factors, such as what size system you need, your energy consumption and what company you go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Medina can save around $15,000 on their energy bills over 20 years.
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 Medina
| Year | Return on Investment |
|---|---|
| 1 years | $-7,860 |
| 3 years | $-6,563 |
| 5 years | $-5,266 |
| 7 years | $-3,970 |
| 9 years | $-2,673 |
| 11 years | $-1,377 |
| 13 years | $-80 |
| 15 years | $1,216 |
| 17 years | $2,513 |
| 19 years | $3,810 |
| 21 years | $5,106 |
| 23 years | $6,403 |
| 25 years | $7,699 |
Top Solar Installers in Medina
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make your swap to solar power much easier. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be right for your family.
If you're on the hunt for a solar company in Medina, we've compiled 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 Medina
Factors that Affect Solar Panel Costs in Medina
There are a number of criteria that can influence 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
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. There are a lot of different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Medina to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. However, the interest on solar loans also adds to your overall costs, so it's vital to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can impact the cost. Medina's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $10,690 | 13.7 years |
| 8 kW | $3.01 | $16,850 | $14,584 | 13.4 years |
| 10 kW | $2.95 | $20,650 | $18,643 | 13.1 years |
| 12 kW | $2.89 | $24,284 | $22,867 | 12.9 years |
| 14 kW | $2.83 | $27,754 | $27,257 | 12.6 years |
| 16 kW | $2.77 | $31,058 | $31,811 | 12.4 years |
| 18 kW | $2.71 | $34,196 | $36,531 | 12.1 years |
| 20 kW | $2.66 | $37,170 | $41,416 | 11.8 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Medina, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and 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.
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 Medina, NY Solar Cost FAQs
How much does it cost to install solar panels in Medina?
The average cost of solar panels in Medina is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real 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 aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Medina?
The majority of states offer net metering programs of some kind. Through these, you can be compensated 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 do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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.