Solar Panel Cost Guide in Olean, NY (2025 Update)
- Olean Solar Installation Cost: $11,918
- 25-Year Savings: $7,114
- Payback Period: 17.8 Years
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Average Cost of Solar Panels in Olean
We break down average solar pricing in Olean.
Although the national average of solar panels is $2.66 per watt, solar panels in Olean typically cost around 4.The average Olean homeowner needs a 4.7-kilowatt system, which would cost about $11,918 with the federal tax credit, or $17,043 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what company you go with.Despite the high upfront cost, the average Olean homeowner can save about $14,000 on their power bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a pre-vetted solar installer in Olean that can help you get a more accurate cost estimate for your home.
Solar savings over time in Olean
| Year | Return on Investment |
|---|---|
| 1 years | $-11,009 |
| 3 years | $-9,192 |
| 5 years | $-7,375 |
| 7 years | $-5,558 |
| 9 years | $-3,741 |
| 11 years | $-1,923 |
| 13 years | $-106 |
| 15 years | $1,711 |
| 17 years | $3,528 |
| 19 years | $5,345 |
| 21 years | $7,162 |
| 23 years | $8,979 |
| 25 years | $10,797 |
Top Solar Installers in Olean
Many homeowners choose to hire a solar installation company since trying to put up solar panels on your own can be a labor-intensive endeavor. Local solar companies can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
If you’d like to go solar but still aren’t certain which solar installer to go with, here are our recommendations for providers near you:
See all of the solar companies in Olean
Factors that Affect Solar Panel Costs in Olean
The cost of installing a solar system in Olean can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to get 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
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Olean homeowners choose to finance their solar panel systems to offset upfront costs.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the growing popularity of clean energy solutions in Olean, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $3.80 | $15,943 | $5,598 | 18.5 years |
| 8 kW | $3.72 | $20,849 | $7,873 | 18.1 years |
| 10 kW | $3.65 | $25,550 | $10,352 | 17.8 years |
| 12 kW | $3.58 | $30,047 | $13,035 | 17.4 years |
| 14 kW | $3.50 | $34,339 | $15,923 | 17.1 years |
| 16 kW | $3.43 | $38,427 | $19,016 | 16.7 years |
| 18 kW | $3.36 | $42,311 | $22,313 | 16.4 years |
| 20 kW | $3.29 | $45,990 | $25,814 | 16.0 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- 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.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Contract: Before you sign a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
EcoWatch's Olean, NY Solar Cost FAQs
How much does it cost to install solar panels in Olean?
The average cost of solar panels in Olean is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Olean, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.