Solar Panel Cost Guide in Monticello, NY (2023 Update)
- Monticello Solar Installation Cost: $9,081
- 25-Year Savings: $11,869
- Payback Period: 10.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Monticello
Let's have a look at the average cost of solar panels in Monticello.
The average cost of a solar system in Monticello is 2.95 per watt. Because a 4.4-kW system is needed to cover the energy needs of a typical home in Monticello, the average price of going solar will be about $9,086 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Monticello homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find adopting solar power is a sound investment. The average homeowner in Monticello can save around $18,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Monticello
| Year | Return on Investment |
|---|---|
| 1 years | $-9,011 |
| 3 years | $-8,871 |
| 5 years | $-8,732 |
| 7 years | $-8,592 |
| 9 years | $-8,452 |
| 11 years | $-8,313 |
| 13 years | $-8,173 |
| 15 years | $-8,033 |
| 17 years | $-7,894 |
| 19 years | $-7,754 |
| 21 years | $-7,614 |
| 23 years | $-7,475 |
| 25 years | $-7,335 |
Top Solar Installers in Monticello
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make your switch to solar power much easier. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 Monticello
Factors that Affect Solar Panel Costs in Monticello
The cost of installing a solar system in Monticello can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest 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
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,950 per kilowatt in Monticello. There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much 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 Monticello to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can impact the cost. Monticello's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $15,698 | 11.3 years |
| 8 kW | $3.01 | $16,850 | $21,261 | 11.1 years |
| 10 kW | $2.95 | $20,650 | $26,989 | 10.8 years |
| 12 kW | $2.89 | $24,284 | $32,883 | 10.6 years |
| 14 kW | $2.83 | $27,754 | $38,942 | 10.4 years |
| 16 kW | $2.77 | $31,058 | $45,165 | 10.2 years |
| 18 kW | $2.71 | $34,196 | $51,555 | 10.0 years |
| 20 kW | $2.66 | $37,170 | $58,109 | 9.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Although 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.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you know 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
EcoWatch's Monticello, NY Solar Cost FAQs
How much does it cost to install solar panels in Monticello?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $952.79 per year.
How long do solar panels last in Monticello?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.