Solar Panel Cost Guide in Olive, NY (2025 Update)
- Olive Solar Installation Cost: $11,137
- 25-Year Savings: $10,599
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Olive
We go over average solar pricing in Olive.
In Olive, solar panels cost about 4 per watt on average.Using this figure, a typical 4.4-kW system would cost about $11,137 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Olive depending on a few factors, such as the type of solar panels you choose and the solar installer you hire.Even with the high initial cost, the average Olive homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the positives of solar.
To get a free estimate from a top solar installer in Olive, you can click the button below.
Solar savings over time in Olive
| Year | Return on Investment |
|---|---|
| 1 years | $-9,874 |
| 3 years | $-7,348 |
| 5 years | $-4,821 |
| 7 years | $-2,295 |
| 9 years | $231 |
| 11 years | $2,758 |
| 13 years | $5,284 |
| 15 years | $7,810 |
| 17 years | $10,337 |
| 19 years | $12,863 |
| 21 years | $15,390 |
| 23 years | $17,916 |
| 25 years | $20,442 |
Top Solar Installers in Olive
Many homeowners opt for a solar panel company since trying to install solar panels on your own can be time-consuming. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance in the long run.
If you're looking for a solar company in Olive, the EcoWatch team has put together a list of our top suggestions here:
See all of the solar companies in Olive
Factors that Affect Solar Panel Costs in Olive
For many Olive homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Olive, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also fits within your budget.
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 | $11,035 | 14.8 years |
| 8 kW | $3.72 | $20,849 | $15,122 | 14.5 years |
| 10 kW | $3.65 | $25,550 | $19,414 | 14.2 years |
| 12 kW | $3.58 | $30,047 | $23,910 | 13.9 years |
| 14 kW | $3.50 | $34,339 | $28,610 | 13.6 years |
| 16 kW | $3.43 | $38,427 | $33,515 | 13.4 years |
| 18 kW | $3.36 | $42,311 | $38,624 | 13.1 years |
| 20 kW | $3.29 | $45,990 | $43,938 | 12.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
EcoWatch's Olive, NY Solar Cost FAQs
What is the average cost of installing solar panels in Olive?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 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 higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does Olive have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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 cover 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.