Solar Panel Cost Guide in Oneida, NY (2023 Update)
- Oneida Solar Installation Cost: $9,540
- 25-Year Savings: $6,064
- Payback Period: 15.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Oneida
Let's take a look at the average cost of solar in Oneida.
While the national average of solar panels is $2.66 per watt, solar panels in Oneida typically cost about 2.95. The average solar panel system size in Oneida is around 4.6 kilowatts, meaning a cost of about $9,540 for a solar installation, or $13,642 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Oneida homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $13,000 in savings on utility bills over 20 years.
To receive a free estimate from a top solar installer in Oneida, you can click the button below.
Solar savings over time in Oneida
| Year | Return on Investment |
|---|---|
| 1 years | $-8,916 |
| 3 years | $-7,668 |
| 5 years | $-6,420 |
| 7 years | $-5,171 |
| 9 years | $-3,923 |
| 11 years | $-2,675 |
| 13 years | $-1,426 |
| 15 years | $-178 |
| 17 years | $1,070 |
| 19 years | $2,319 |
| 21 years | $3,567 |
| 23 years | $4,815 |
| 25 years | $6,064 |
Top Solar Installers in Oneida
When making the switch to solar, many homeowners opt to use a solar installer since installing a solar system yourself can be a difficult project. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.
If you're searching for a solar installer in Oneida, we've put together a list of our top suggestions here:
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 Oneida
Factors that Affect Solar Panel Costs in Oneida
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Oneida: 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
When it comes to estimating the price of a solar panel system in Oneida, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $2,950 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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, such as solar batteries, can bump up your total well above the Oneida average.
Solar Financing Terms
Many homeowners find the average cost of solar in Oneida to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Oneida, and each can charge different amounts for labor and equipment. Larger national companies generally 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 add-on 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 | $7,395 | 15.9 years |
| 8 kW | $3.01 | $16,850 | $10,190 | 15.6 years |
| 10 kW | $2.95 | $20,650 | $13,150 | 15.3 years |
| 12 kW | $2.89 | $24,284 | $16,276 | 15.0 years |
| 14 kW | $2.83 | $27,754 | $19,567 | 14.7 years |
| 16 kW | $2.77 | $31,058 | $23,023 | 14.4 years |
| 18 kW | $2.71 | $34,196 | $26,644 | 14.1 years |
| 20 kW | $2.66 | $37,170 | $30,431 | 13.7 years |
How to Save on Solar Panels
There are numerous companies available in Oneida, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
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 Oneida, NY Solar Cost FAQs
How much does it cost to install solar panels in Oneida?
The average cost of solar panels in Oneida 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 things such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Oneida?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 savings from going solar.
Is going solar worth it?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
Although 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 choose to replace them after having them for that long or you can keep using 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.
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.