Solar Panel Cost Guide in Minoa, NY (2024 Update)
- Minoa Solar Installation Cost: $11,835
- 25-Year Savings: $6,642
- Payback Period: 18.3 Years
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Average Cost of Solar Panels in Minoa
Find out what the average cost of solar panels are in Minoa.
While the national average of solar panels is $2.66 per watt, solar panels in Minoa typically cost about 4.The average solar panel system size in Minoa is around 4.6 kilowatts, meaning a cost of about $11,835 for a solar installation, or $16,924 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 panel system. The exact cost of going solar can vary depending on several factors, such as what size system you need, your energy usage and what solar installer you go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $13,000 over 20 years on utility bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Minoa
| Year | Return on Investment |
|---|---|
| 1 years | $-10,926 |
| 3 years | $-9,109 |
| 5 years | $-7,292 |
| 7 years | $-5,475 |
| 9 years | $-3,658 |
| 11 years | $-1,840 |
| 13 years | $-23 |
| 15 years | $1,794 |
| 17 years | $3,611 |
| 19 years | $5,428 |
| 21 years | $7,245 |
| 23 years | $9,063 |
| 25 years | $10,880 |
Top Solar Installers in Minoa
When making the switch to solar, many homeowners choose to use a solar company since overseeing your solar installation yourself can be a difficult project. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Minoa:
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 Minoa
Factors that Affect Solar Panel Costs in Minoa
While the average cost of a solar system in Minoa is $11,835, your actual cost may be higher or lower than that. There are quite a few 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
When it comes to estimating the cost of a solar panel system in Minoa, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 more savings over time. Also, 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 panels out of pocket can be difficult. Solar loans are offered by most installers in Minoa, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Minoa is the company you hire to install your solar system. Similar to choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services at different costs.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access 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 lower 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 | $5,050 | 19.0 years |
| 8 kW | $3.72 | $20,849 | $7,143 | 18.6 years |
| 10 kW | $3.65 | $25,550 | $9,439 | 18.3 years |
| 12 kW | $3.58 | $30,047 | $11,940 | 17.9 years |
| 14 kW | $3.50 | $34,339 | $14,646 | 17.5 years |
| 16 kW | $3.43 | $38,427 | $17,555 | 17.2 years |
| 18 kW | $3.36 | $42,311 | $20,670 | 16.8 years |
| 20 kW | $3.29 | $45,990 | $23,988 | 16.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Warranty: If you care about the longevity of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: It’s important to read through your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
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 Minoa, NY Solar Cost FAQs
What is the average cost of installing solar panels in Minoa?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Minoa?
Leasing solar panels can be an option if you are unable to pay upfront or secure 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.
Can you sell solar power back to the grid in Minoa?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How many solar panels do I need 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 usually produce about 250 to 400 watt-hours per hour, the average home 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.