Solar Panel Cost Guide in New Scotland, NY (2024 Update)
- New Scotland Solar Installation Cost: $11,379
- 25-Year Savings: $8,590
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in New Scotland
Find out what the average cost of installing solar panels is in New Scotland.
The average cost of a solar panel system in New Scotland is 4 per watt.To account for the typical energy needs of the average home in New Scotland, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,379, or $16,272 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average New Scotland homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on utility bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in New Scotland
| Year | Return on Investment |
|---|---|
| 1 years | $-10,337 |
| 3 years | $-8,254 |
| 5 years | $-6,171 |
| 7 years | $-4,088 |
| 9 years | $-2,005 |
| 11 years | $78 |
| 13 years | $2,161 |
| 15 years | $4,244 |
| 17 years | $6,327 |
| 19 years | $8,411 |
| 21 years | $10,494 |
| 23 years | $12,577 |
| 25 years | $14,660 |
Top Solar Installers in New Scotland
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make your switch to solar power much easier. Another upside of going with a solar company is that they can help you optimize your investment by cutting back on future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
If you're looking for a solar installer in New Scotland, the EcoWatch team has put together a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 New Scotland
Factors that Affect Solar Panel Costs in New Scotland
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in New Scotland: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better 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 model of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider 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’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in New Scotland to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can influence your pricing. New Scotland’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in New Scotland know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $8,020 | 16.6 years |
| 8 kW | $3.72 | $20,849 | $11,102 | 16.3 years |
| 10 kW | $3.65 | $25,550 | $14,388 | 16.0 years |
| 12 kW | $3.58 | $30,047 | $17,879 | 15.7 years |
| 14 kW | $3.50 | $34,339 | $21,574 | 15.4 years |
| 16 kW | $3.43 | $38,427 | $25,474 | 15.0 years |
| 18 kW | $3.36 | $42,311 | $29,578 | 14.7 years |
| 20 kW | $3.29 | $45,990 | $33,886 | 14.4 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Solar Panel Brands: The kind of solar panel you’d like to install plays a part in which company you should opt for, since different companies have access to different panels.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 New Scotland, NY Solar Cost FAQs
How much does it cost to install solar panels in New Scotland?
This is a hard question to answer exactly, because the cost depends on many 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 other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in New Scotland?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback 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 get the most savings.
Does New Scotland have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
What solar power system size is right for my home?
To figure out how many solar panels 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.