Solar Panel Cost Guide in Oakfield, NY (Mar 2023)
- Oakfield Solar Installation Cost: $9,003
- 25-Year Savings: $7,204
- Payback Period: 13.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Oakfield
Find out what the average cost of installing solar panels is in Oakfield.
The national average cost of solar panels is $2.66 per watt, but in Oakfield it's 2.95 per watt. The average solar panel system size in Oakfield is around 4.4 kilowatts, meaning a cost of about $9,003 for a solar installation, or $12,874 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with. Despite the high upfront cost, the average Oakfield homeowner can save about $14,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar installer in Oakfield for a quote for your home.
Solar savings over time in Oakfield
| Year | Return on Investment |
|---|---|
| 1 years | $-8,355 |
| 3 years | $-7,059 |
| 5 years | $-5,762 |
| 7 years | $-4,465 |
| 9 years | $-3,169 |
| 11 years | $-1,872 |
| 13 years | $-576 |
| 15 years | $721 |
| 17 years | $2,017 |
| 19 years | $3,314 |
| 21 years | $4,610 |
| 23 years | $5,907 |
| 25 years | $7,204 |
Top Solar Installers in Oakfield
Many homeowners opt for a solar installation company since trying to install solar panels by yourself can be time-consuming. The expertise that solar companies offer can be valuable as well, particularly if you don't quite know what brand of solar equipment you need.
There are a number of 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Oakfield
Factors that Affect Solar Panel Costs in Oakfield
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Oakfield: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,950 per kilowatt in Oakfield. The brand of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Oakfield offer solar loans, which reduce the initial cost of installing solar panels. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Oakfield is the company you hire to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services at different costs. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $9,405 | 14.5 years |
| 8 kW | $3.01 | $16,850 | $12,871 | 14.2 years |
| 10 kW | $2.95 | $20,650 | $16,502 | 13.9 years |
| 12 kW | $2.89 | $24,284 | $20,298 | 13.6 years |
| 14 kW | $2.83 | $27,754 | $24,259 | 13.3 years |
| 16 kW | $2.77 | $31,058 | $28,385 | 13.1 years |
| 18 kW | $2.71 | $34,196 | $32,677 | 12.8 years |
| 20 kW | $2.66 | $37,170 | $37,134 | 12.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Oakfield, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before making your decision.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Oakfield, NY Solar Cost FAQs
What is the average cost of installing solar panels in Oakfield?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally 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 other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Oakfield?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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.
Can you sell solar power back to the grid in Oakfield?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.