Solar Panel Cost Guide in Oswego, NY (2024 Update)
- Oswego Solar Installation Cost: $11,706
- 25-Year Savings: $7,286
- Payback Period: 17.5 Years
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Average Cost of Solar Panels in Oswego
Here’s how much it might cost to switch to solar power in Oswego.
The average cost of a solar panel system in Oswego is 4 per watt.The average Oswego homeowner needs a 4.6-kilowatt system, which would cost about $11,706 with the federal tax credit, or $16,740 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 exact cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with.Despite the large initial cost, the average Oswego homeowner can save around $14,000 on their electricity bills over 20 years, which is one of the positives of solar.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Oswego
| Year | Return on Investment |
|---|---|
| 1 years | $-10,797 |
| 3 years | $-8,980 |
| 5 years | $-7,163 |
| 7 years | $-5,346 |
| 9 years | $-3,529 |
| 11 years | $-1,712 |
| 13 years | $106 |
| 15 years | $1,923 |
| 17 years | $3,740 |
| 19 years | $5,557 |
| 21 years | $7,374 |
| 23 years | $9,191 |
| 25 years | $11,008 |
Top Solar Installers in Oswego
Installing solar panels yourself can be a dangerous project, which is why hiring a solar installer is a good option for many homeowners. Another good thing about going with a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
There are various licensed solar professionals that can install solar panels for you. 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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Oswego
Factors that Affect Solar Panel Costs in Oswego
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Oswego: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Oswego, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $3,650 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space 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 extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also adds to your all-in costs, so it’s vital to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Oswego is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services for different budgets.Additionally, some companies in Oswego know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.80 | $15,943 | $5,988 | 18.2 years |
| 8 kW | $3.72 | $20,849 | $8,393 | 17.8 years |
| 10 kW | $3.65 | $25,550 | $11,002 | 17.5 years |
| 12 kW | $3.58 | $30,047 | $13,815 | 17.1 years |
| 14 kW | $3.50 | $34,339 | $16,833 | 16.8 years |
| 16 kW | $3.43 | $38,427 | $20,056 | 16.4 years |
| 18 kW | $3.36 | $42,311 | $23,482 | 16.1 years |
| 20 kW | $3.29 | $45,990 | $27,113 | 15.7 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Installation Process: When making the switch to solar energy, it’s necessary to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the completion timeline.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Oswego, NY Solar Cost FAQs
What is the average cost of installing solar panels in Oswego?
This is a hard question to answer exactly, because the cost depends on a variety of 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Oswego?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Does Oswego have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a 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 get between 20 and 35 panels to account for 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.
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.