Solar Panel Cost Guide in Mount Ivy, NY (2024 Update)
- Mount Ivy Solar Installation Cost: $10,838
- 25-Year Savings: $18,340
- Payback Period: 10.0 Years
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Average Cost of Solar Panels in Mount Ivy
Let’s have a look at the average cost of solar panels in Mount Ivy.
The average cost of a solar system in Mount Ivy is 4 per watt.Using this figure, a typical 4.2-kW system would cost about $10,838 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Mount Ivy homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a rewarding investment. The average homeowner in Mount Ivy can save about $24,000 on their power bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Mount Ivy
| Year | Return on Investment |
|---|---|
| 1 years | $-9,497 |
| 3 years | $-6,815 |
| 5 years | $-4,133 |
| 7 years | $-1,452 |
| 9 years | $1,230 |
| 11 years | $3,912 |
| 13 years | $6,594 |
| 15 years | $9,275 |
| 17 years | $11,957 |
| 19 years | $14,639 |
| 21 years | $17,320 |
| 23 years | $20,002 |
| 25 years | $22,684 |
Top Solar Installers in Mount Ivy
Although you can install solar panels yourself, it takes extra labor and expertise. That's why the majority of homeowners choose to hire a solar panel installer. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
Working with a licensed 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Mount Ivy
Factors that Affect Solar Panel Costs in Mount Ivy
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Mount Ivy: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.The brand of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the amount of 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 getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Mount Ivy, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $22,389 | 10.4 years |
| 8 kW | $3.72 | $20,849 | $30,260 | 10.2 years |
| 10 kW | $3.65 | $25,550 | $38,336 | 10.0 years |
| 12 kW | $3.58 | $30,047 | $46,617 | 9.8 years |
| 14 kW | $3.50 | $34,339 | $55,102 | 9.6 years |
| 16 kW | $3.43 | $38,427 | $63,791 | 9.4 years |
| 18 kW | $3.36 | $42,311 | $72,685 | 9.2 years |
| 20 kW | $3.29 | $45,990 | $81,783 | 9.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Look through the contract terms thoroughly to make sure you understand the total cost, completion timeline incentives and warranties.
- Solar Panel Brands: The kind of solar panel you need to get plays a role in which installer you should opt for, since different companies provide different panels.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
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
EcoWatch's Mount Ivy, NY Solar Cost FAQs
What is the average cost of installing solar panels in Mount Ivy?
The average cost of solar panels in Mount Ivy is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Mount Ivy?
You can’t get solar panels for free in Mount Ivy. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,277.73 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.