Solar Panel Cost Guide in New York Mills, NY (2023 Update)
- New York Mills Solar Installation Cost: $9,540
- 25-Year Savings: $6,667
- Payback Period: 14.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in New York Mills
Find out what the average cost of a solar system is in New York Mills.
The average cost of a solar system in New York Mills is 2.95 per watt. To cover the typical energy needs of the average home in New York Mills, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,540, or $13,642 before the federal solar tax credit of 30% is applied.
The actual price you pay can be higher or lower than the average in New York Mills based on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire. Despite the high upfront cost, the average New York Mills homeowner can save about $13,000 on their energy bills over 20 years, which is one of the positives of solar.
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 York Mills
| Year | Return on Investment |
|---|---|
| 1 years | $-8,892 |
| 3 years | $-7,595 |
| 5 years | $-6,299 |
| 7 years | $-5,002 |
| 9 years | $-3,706 |
| 11 years | $-2,409 |
| 13 years | $-1,113 |
| 15 years | $184 |
| 17 years | $1,480 |
| 19 years | $2,777 |
| 21 years | $4,074 |
| 23 years | $5,370 |
| 25 years | $6,667 |
Top Solar Installers in New York Mills
Although you can install solar panels yourself, it takes extra effort and know-how. For that reason, most homeowners choose to hire a solar panel installer. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you're searching for a solar company in New York Mills, we've organized a list of our top suggestions here:
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 York Mills
Factors that Affect Solar Panel Costs in New York Mills
Even though the average cost of a solar system in New York Mills is $9,540, your final cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,950. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in New York Mills, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. 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
The final significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in New York Mills, you'll have many options to choose from, but each comes at different price points for labor and equipment. You may see national solar installers that have lower prices due to 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 larger companies.
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 | $8,163 | 15.3 years |
| 8 kW | $3.01 | $16,850 | $11,215 | 15.0 years |
| 10 kW | $2.95 | $20,650 | $14,432 | 14.7 years |
| 12 kW | $2.89 | $24,284 | $17,814 | 14.4 years |
| 14 kW | $2.83 | $27,754 | $21,361 | 14.1 years |
| 16 kW | $2.77 | $31,058 | $25,073 | 13.8 years |
| 18 kW | $2.71 | $34,196 | $28,951 | 13.5 years |
| 20 kW | $2.66 | $37,170 | $32,994 | 13.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
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 York Mills, NY Solar Cost FAQs
What is the average cost of installing solar panels in New York Mills?
The average cost of solar panels in New York Mills is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in New York Mills?
You can't get solar panels for free in New York Mills. 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.
Is it worth going solar in New York Mills?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in New York Mills?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.