Solar Panel Cost Guide in Minisink, NY (2024 Update)
- Minisink Solar Installation Cost: $11,058
- 25-Year Savings: $18,162
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Minisink
Find out how much it might cost to install solar panels in Minisink.
The national average cost of solar panels is $2.66 per watt, but in Minisink it’s 4 per watt.The average solar panel system size in Minisink is around 4.3 kilowatts, meaning a cost of about $11,058 for a solar installation, or $15,813 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary based on several factors, such as what size system you need, your energy consumption and what installation company you go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is quite good, with a net average savings of about $24,000 over 20 years on power bills.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Minisink
| Year | Return on Investment |
|---|---|
| 1 years | $-9,717 |
| 3 years | $-7,035 |
| 5 years | $-4,353 |
| 7 years | $-1,671 |
| 9 years | $1,010 |
| 11 years | $3,692 |
| 13 years | $6,374 |
| 15 years | $9,055 |
| 17 years | $11,737 |
| 19 years | $14,419 |
| 21 years | $17,101 |
| 23 years | $19,782 |
| 25 years | $22,464 |
Top Solar Installers in Minisink
Installing solar panels by yourself can be a difficult project, which is why getting a solar installer is a good option for many homeowners. The expertise that solar installers offer can be valuable as well, especially if you don’t quite know what brand of solar equipment you need.
If you're searching for a solar company in Minisink, we've 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 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 Minisink
Factors that Affect Solar Panel Costs in Minisink
Even though the average cost of a solar system in Minisink is $11,058, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Minisink average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Minisink, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Minisink, you’ll have many options to choose from, but each comes at various price points for labor and equipment.The company’s size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion 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 | $21,627 | 10.6 years |
| 8 kW | $3.72 | $20,849 | $29,245 | 10.4 years |
| 10 kW | $3.65 | $25,550 | $37,067 | 10.2 years |
| 12 kW | $3.58 | $30,047 | $45,093 | 10.0 years |
| 14 kW | $3.50 | $34,339 | $53,324 | 9.8 years |
| 16 kW | $3.43 | $38,427 | $61,759 | 9.6 years |
| 18 kW | $3.36 | $42,311 | $70,399 | 9.4 years |
| 20 kW | $3.29 | $45,990 | $79,243 | 9.2 years |
How to Save on Solar Panels
There are a large number of companies available in Minisink, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies carry different brands and models of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
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 Minisink, NY Solar Cost FAQs
What is the average cost of installing solar panels in Minisink?
The average cost of solar panels in Minisink 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 type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Minisink?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,252.33 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.