Solar Panel Cost Guide in New Scotland, NY (2023 Update)
- New Scotland Solar Installation Cost: $9,197
- 25-Year Savings: $8,590
- Payback Period: 12.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in New Scotland
Let's take a look at the average cost of solar panels in New Scotland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New Scotland, the typical cost of a solar system is 2.95 per watt. Since a 4.5-kW system is needed to cover the energy needs of a typical home in New Scotland, the average price of going solar will be about $9,189 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of equipment you want, your solar contractor and more. For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $15,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in New Scotland
| Year | Return on Investment |
|---|---|
| 1 years | $-8,155 |
| 3 years | $-6,072 |
| 5 years | $-3,989 |
| 7 years | $-1,906 |
| 9 years | $177 |
| 11 years | $2,260 |
| 13 years | $4,343 |
| 15 years | $6,427 |
| 17 years | $8,510 |
| 19 years | $10,593 |
| 21 years | $12,676 |
| 23 years | $14,759 |
| 25 years | $16,842 |
Top Solar Installers in New Scotland
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make switching to solar power much easier. The expertise that solar installers offer can be useful as well, particularly if you don't quite know what type of solar equipment you need.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
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 New Scotland
Factors that Affect Solar Panel Costs in New Scotland
For many New Scotland homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in New Scotland, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The brand of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to think about 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 for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in New Scotland to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. 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 back the loan.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk 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 down 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 | $3.07 | $12,886 | $11,077 | 13.4 years |
| 8 kW | $3.01 | $16,850 | $15,100 | 13.2 years |
| 10 kW | $2.95 | $20,650 | $19,288 | 12.9 years |
| 12 kW | $2.89 | $24,284 | $23,641 | 12.7 years |
| 14 kW | $2.83 | $27,754 | $28,160 | 12.4 years |
| 16 kW | $2.77 | $31,058 | $32,843 | 12.2 years |
| 18 kW | $2.71 | $34,196 | $37,692 | 11.9 years |
| 20 kW | $2.66 | $37,170 | $42,706 | 11.6 years |
How to Save on Solar Panels
The solar installer you choose 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 consider, including:
- Solar Panel Brands: The brand of solar panel you'd like to get plays a part in which installer you should choose, since different companies have different panels.
- Warranty: If you care about the endurance of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
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 New Scotland, NY Solar Cost FAQs
What is the average cost of installing solar panels in New Scotland?
This is a difficult question to answer precisely, because the cost depends on a few different 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 other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in New Scotland?
You can't get solar panels for free in New Scotland. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout New Scotland, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 install 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.