Solar Panel Cost Guide in Oneonta, NY (2023 Update)
- Oneonta Solar Installation Cost: $9,474
- 25-Year Savings: $6,029
- Payback Period: 15.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oneonta
We go over average solar pricing in Oneonta.
Although the national average of solar panels is $2.66 per watt, solar panels in Oneonta generally cost around 2.95. To account for the typical energy needs of the average home in Oneonta, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,478, or $13,554 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of going solar can vary based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with. For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $13,000 in savings on utility bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Oneonta
| Year | Return on Investment |
|---|---|
| 1 years | $-9,422 |
| 3 years | $-9,319 |
| 5 years | $-9,216 |
| 7 years | $-9,112 |
| 9 years | $-9,009 |
| 11 years | $-8,906 |
| 13 years | $-8,802 |
| 15 years | $-8,699 |
| 17 years | $-8,596 |
| 19 years | $-8,492 |
| 21 years | $-8,389 |
| 23 years | $-8,286 |
| 25 years | $-8,182 |
Top Solar Installers in Oneonta
Although you can install solar panels by yourself, it takes extra energy and knowledge. For that reason, the majority of homeowners choose a solar panel installer. The expertise that solar companies offer can be valuable as well, especially if you aren't sure what brand of solar equipment you need.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our suggestions for providers near you:
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 Oneonta
Factors that Affect Solar Panel Costs in Oneonta
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Oneonta: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Oneonta, 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 usage, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,950 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Oneonta, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you pick will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Oneonta have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $7,389 | 15.9 years |
| 8 kW | $3.01 | $16,850 | $10,183 | 15.6 years |
| 10 kW | $2.95 | $20,650 | $13,141 | 15.3 years |
| 12 kW | $2.89 | $24,284 | $16,265 | 15.0 years |
| 14 kW | $2.83 | $27,754 | $19,554 | 14.7 years |
| 16 kW | $2.77 | $31,058 | $23,009 | 14.4 years |
| 18 kW | $2.71 | $34,196 | $26,628 | 14.1 years |
| 20 kW | $2.66 | $37,170 | $30,413 | 13.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project timeline incentives and warranties.
- Installation Process: Make sure you're on the same page with the company in regard to 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: The type of solar panel you'd like plays a part in which installer you should opt for, since different companies provide different panels.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Oneonta, NY Solar Cost FAQs
How much does it cost to install solar panels in Oneonta?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Oneonta?
You can't get solar panels for free in Oneonta. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Oneonta, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate 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 many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.