Solar Panel Cost Guide in Niskayuna, NY (2023 Update)
- Niskayuna Solar Installation Cost: $9,189
- 25-Year Savings: $7,018
- Payback Period: 14.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Niskayuna
We go over average solar pricing in Niskayuna.
The national average cost of solar panels is $2.66 per watt, but in Niskayuna it's 2.95 per watt. Using this figure, a typical 4.5-kW system would cost about $9,189 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Niskayuna homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $14,000 over 20 years on utility bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Niskayuna
| Year | Return on Investment |
|---|---|
| 1 years | $-8,541 |
| 3 years | $-7,244 |
| 5 years | $-5,948 |
| 7 years | $-4,651 |
| 9 years | $-3,355 |
| 11 years | $-2,058 |
| 13 years | $-762 |
| 15 years | $535 |
| 17 years | $1,832 |
| 19 years | $3,128 |
| 21 years | $4,425 |
| 23 years | $5,721 |
| 25 years | $7,018 |
Top Solar Installers in Niskayuna
When switching to solar energy, many homeowners opt to use a solar installation company since DIY solar panel installation can be a difficult project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can get a free estimate from a local solar installer 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 Niskayuna
Factors that Affect Solar Panel Costs in Niskayuna
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Niskayuna: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $2,950 per kilowatt in Niskayuna. 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 have a higher price tag 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 more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Niskayuna to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time because of interest. When figuring out 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 lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Niskayuna is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for instance, you'll have many options for solar installers that offer a range of services for different budgets. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount 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 | $8,983 | 14.7 years |
| 8 kW | $3.01 | $16,850 | $12,308 | 14.4 years |
| 10 kW | $2.95 | $20,650 | $15,798 | 14.2 years |
| 12 kW | $2.89 | $24,284 | $19,454 | 13.9 years |
| 14 kW | $2.83 | $27,754 | $23,274 | 13.6 years |
| 16 kW | $2.77 | $31,058 | $27,260 | 13.3 years |
| 18 kW | $2.71 | $34,196 | $31,411 | 13.0 years |
| 20 kW | $2.66 | $37,170 | $35,727 | 12.7 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 select the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable 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 check your installer's reputation is by reading reviews.
- Solar Panel Brands: The brand of solar panel you need plays a role in which installer you should go with, since different companies have access to different panels.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a quality company.
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 Niskayuna, NY Solar Cost FAQs
What is the average cost of installing solar panels in Niskayuna?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Niskayuna?
Leasing solar panels can be an attractive choice, because it usually 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can 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 buy 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.