Solar Panel Cost Guide in Newark Valley, NY (2024 Update)
- Newark Valley Solar Installation Cost: $11,808
- 25-Year Savings: $4,844
- Payback Period: 20.5 Years
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Average Cost of Solar Panels in Newark Valley
Let’s have a look at the average cost of solar in Newark Valley.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Newark Valley, the typical cost of solar panels is 4 per watt.Using this figure, a typical 4.6-kW system would cost about $11,808 before the 0 federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Newark Valley based on a variety of factors, such as the model of solar panels you choose and the solar company you hire.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Newark Valley see about $12,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Newark Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-10,982 |
| 3 years | $-9,331 |
| 5 years | $-7,679 |
| 7 years | $-6,027 |
| 9 years | $-4,375 |
| 11 years | $-2,723 |
| 13 years | $-1,071 |
| 15 years | $580 |
| 17 years | $2,232 |
| 19 years | $3,884 |
| 21 years | $5,536 |
| 23 years | $7,188 |
| 25 years | $8,840 |
Top Solar Installers in Newark Valley
Although it's possible to install solar panels yourself, it takes extra time and knowledge. That's why most people choose to go with a solar panel installer. Plus, if you’re unsure what kind of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
If you're searching for a solar company in Newark Valley, 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 Newark Valley
Factors that Affect Solar Panel Costs in Newark Valley
Though the average cost of a solar system in Newark Valley is $11,808, your actual cost may differ. There are many factors that can have a sizable 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 energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,650. There are several different solar panel brands and the one you choose also changes the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.Though solar loans make adopting solar energy more accessible for Newark Valley homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Newark Valley, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and better 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 companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $2,735 | 21.3 years |
| 8 kW | $3.72 | $20,849 | $4,056 | 20.9 years |
| 10 kW | $3.65 | $25,550 | $5,581 | 20.5 years |
| 12 kW | $3.58 | $30,047 | $7,310 | 20.1 years |
| 14 kW | $3.50 | $34,339 | $9,244 | 19.7 years |
| 16 kW | $3.43 | $38,427 | $11,382 | 19.3 years |
| 18 kW | $3.36 | $42,311 | $13,724 | 18.9 years |
| 20 kW | $3.29 | $45,990 | $16,271 | 18.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of 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 satisfied reviews from previous customers.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of 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 Newark Valley, NY Solar Cost FAQs
What is the average cost of installing solar panels in Newark Valley?
The average cost of solar panels in Newark Valley 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Newark Valley?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.