Solar Panel Cost Guide in North Elba, NY (2023 Update)
- North Elba Solar Installation Cost: $9,585
- 25-Year Savings: $5,440
- Payback Period: 15.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in North Elba
Here's how much it might cost to go solar in North Elba.
In North Elba, solar panels cost about 2.95 per watt on average. To account for the typical energy needs of the average home in North Elba, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $9,582, or $13,702 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar system you want to get, your solar contractor and more. But, after you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $12,000 over 20 years on electricity bills.
You can click the button below to get connected with a top solar company in North Elba for a quote for your home.
Solar savings over time in North Elba
| Year | Return on Investment |
|---|---|
| 1 years | $-9,534 |
| 3 years | $-9,434 |
| 5 years | $-9,334 |
| 7 years | $-9,234 |
| 9 years | $-9,134 |
| 11 years | $-9,034 |
| 13 years | $-8,934 |
| 15 years | $-8,833 |
| 17 years | $-8,733 |
| 19 years | $-8,633 |
| 21 years | $-8,533 |
| 23 years | $-8,433 |
| 25 years | $-8,333 |
Top Solar Installers in North Elba
Trying to install solar panels yourself can be a difficult undertaking, which is why hiring a solar installation company is a good option for many homeowners. Another perk of utilizing a solar installer is that they can help you maximize your return of investment by cutting back on future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 North Elba
Factors that Affect Solar Panel Costs in North Elba
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in North Elba: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the North Elba average.
Solar Financing Terms
Most solar installers in North Elba have solar loans, which reduce the initial cost of installing solar panels. However, the interest on solar loans also increases your total costs, so it's important to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in North Elba, and each can charge varying amounts for labor and equipment. The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and bulk 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 lower 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 | $6,537 | 16.6 years |
| 8 kW | $3.01 | $16,850 | $9,047 | 16.3 years |
| 10 kW | $2.95 | $20,650 | $11,721 | 15.9 years |
| 12 kW | $2.89 | $24,284 | $14,561 | 15.6 years |
| 14 kW | $2.83 | $27,754 | $17,566 | 15.3 years |
| 16 kW | $2.77 | $31,058 | $20,736 | 15.0 years |
| 18 kW | $2.71 | $34,196 | $24,072 | 14.7 years |
| 20 kW | $2.66 | $37,170 | $27,572 | 14.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 North Elba, NY Solar Cost FAQs
How much does it cost to install solar panels in North Elba?
The average cost of solar panels in North Elba 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in North Elba?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is it worth going solar in North Elba?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.