Solar Panel Cost Guide in Moravia, NY (2023 Update)
- Moravia Solar Installation Cost: $9,563
- 25-Year Savings: $5,706
- Payback Period: 15.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Moravia
Let's take a look at the average cost of solar in Moravia.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Moravia, the average cost of a solar system is 2.95 per watt. Since a 4.6-kW system is needed to cover the energy needs of a typical home in Moravia, the average price of going solar will be about $9,561 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 Moravia homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Even with the significant initial cost, the average Moravia homeowner can save about $13,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar company in Moravia that can help you get a more accurate cost estimate for your home.
Solar savings over time in Moravia
| Year | Return on Investment |
|---|---|
| 1 years | $-8,737 |
| 3 years | $-7,085 |
| 5 years | $-5,433 |
| 7 years | $-3,781 |
| 9 years | $-2,130 |
| 11 years | $-478 |
| 13 years | $1,174 |
| 15 years | $2,826 |
| 17 years | $4,478 |
| 19 years | $6,130 |
| 21 years | $7,781 |
| 23 years | $9,433 |
| 25 years | $11,085 |
Top Solar Installers in Moravia
Trying to install solar panels on your own can be a dangerous undertaking, which is why getting a solar installation company is a good option for many homeowners. Some solar companies, especially local ones, can help you take advantage of incentives in Moravia, therefore optimizing your ROI.
Working with a professional solar installer 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 Moravia
Factors that Affect Solar Panel Costs in Moravia
There are a number of criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Moravia, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Moravia to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest. However, the interest on solar loans also increases your total costs, so it's vital 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
A final factor to consider when trying to estimate the cost of solar for your home or business in Moravia is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for example, you'll have many options for solar installers that provide a range of services at different price points. Larger national companies usually have lower costs, but some local companies undercut 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 vehicle 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 | $6,897 | 16.3 years |
| 8 kW | $3.01 | $16,850 | $9,527 | 16.0 years |
| 10 kW | $2.95 | $20,650 | $12,322 | 15.7 years |
| 12 kW | $2.89 | $24,284 | $15,281 | 15.3 years |
| 14 kW | $2.83 | $27,754 | $18,407 | 15.0 years |
| 16 kW | $2.77 | $31,058 | $21,697 | 14.7 years |
| 18 kW | $2.71 | $34,196 | $25,152 | 14.4 years |
| 20 kW | $2.66 | $37,170 | $28,773 | 14.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Contract: It's important to look over 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 cost.
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 Moravia, NY Solar Cost FAQs
What is the average cost of installing solar panels in Moravia?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly 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. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind 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.
Can solar panels significantly reduce my energy bills?
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 $659.43 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage 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 account for 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.