Solar Panel Cost Guide in North Gates, NY (2023 Update)
- North Gates Solar Installation Cost: $8,610
- 25-Year Savings: $8,676
- Payback Period: 12.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in North Gates
Here's how much it might cost to install solar panels in North Gates.
The average cost of a solar system in North Gates is 2.95 per watt. Since a 4.2-kW system is needed to cover the energy needs of a typical home in North Gates, the average price of going solar will be about $8,611 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of making the switch to solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. Even with the high initial cost, the average North Gates homeowner can save about $16,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a highly rated solar installer in North Gates, you can click the button below.
Solar savings over time in North Gates
| Year | Return on Investment |
|---|---|
| 1 years | $-8,552 |
| 3 years | $-8,437 |
| 5 years | $-8,322 |
| 7 years | $-8,206 |
| 9 years | $-8,091 |
| 11 years | $-7,976 |
| 13 years | $-7,861 |
| 15 years | $-7,745 |
| 17 years | $-7,630 |
| 19 years | $-7,515 |
| 21 years | $-7,400 |
| 23 years | $-7,284 |
| 25 years | $-7,169 |
Top Solar Installers in North Gates
Putting up solar panels yourself can be a difficult task, which is why hiring a solar installer is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
There are various licensed solar professionals that can help you install your solar panels. 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 Gates
Factors that Affect Solar Panel Costs in North Gates
There are many criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the cost of a solar panel system in North Gates, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,950 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in North Gates provide solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you select will play a role in your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. You may see national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $11,990 | 12.9 years |
| 8 kW | $3.01 | $16,850 | $16,317 | 12.7 years |
| 10 kW | $2.95 | $20,650 | $20,810 | 12.5 years |
| 12 kW | $2.89 | $24,284 | $25,467 | 12.2 years |
| 14 kW | $2.83 | $27,754 | $30,290 | 12.0 years |
| 16 kW | $2.77 | $31,058 | $35,278 | 11.7 years |
| 18 kW | $2.71 | $34,196 | $40,431 | 11.5 years |
| 20 kW | $2.66 | $37,170 | $45,749 | 11.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, 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:
- 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 most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: When making the switch to solar, it's important to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project timeline.
- 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 your solar system's energy production.
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 Gates, NY Solar Cost FAQs
What is the average cost of installing solar panels in North Gates?
The average cost of solar panels in North Gates is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in North Gates?
Leasing solar panels can be an appealing choice, because it typically 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 maximize your savings.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in North Gates is currently $110,200, which means you can look forward to a value of about $4,518 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in North Gates is a worthwhile investment.
How long do solar panels last in North Gates?
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 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.