Solar Panel Cost Guide in Otsego, NY (Mar 2023)
- Otsego Solar Installation Cost: $9,478
- 25-Year Savings: $5,556
- Payback Period: 15.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Otsego
We go over average solar pricing in Otsego.
In Otsego, solar panels cost about 2.95 per watt on average. To cover the typical energy usage of the average home in Otsego, 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.
Bear in mind that the figures above are only estimates based on the average energy use of Otsego homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $12,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar installer in Otsego for a customized estimate.
Solar savings over time in Otsego
| Year | Return on Investment |
|---|---|
| 1 years | $-8,877 |
| 3 years | $-7,674 |
| 5 years | $-6,471 |
| 7 years | $-5,269 |
| 9 years | $-4,066 |
| 11 years | $-2,863 |
| 13 years | $-1,660 |
| 15 years | $-458 |
| 17 years | $745 |
| 19 years | $1,948 |
| 21 years | $3,151 |
| 23 years | $4,353 |
| 25 years | $5,556 |
Top Solar Installers in Otsego
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make your swap to solar power much easier. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can take care of your solar installation project. 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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Otsego
Factors that Affect Solar Panel Costs in Otsego
While the average cost of a solar system in Otsego is $9,478, your final cost may differ. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,950. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Otsego average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Otsego homeowners opt to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's vital to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you choose will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that has the products, warranties and services you want 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 | $3.07 | $12,886 | $6,776 | 16.4 years |
| 8 kW | $3.01 | $16,850 | $9,365 | 16.1 years |
| 10 kW | $2.95 | $20,650 | $12,119 | 15.8 years |
| 12 kW | $2.89 | $24,284 | $15,039 | 15.4 years |
| 14 kW | $2.83 | $27,754 | $18,123 | 15.1 years |
| 16 kW | $2.77 | $31,058 | $21,373 | 14.8 years |
| 18 kW | $2.71 | $34,196 | $24,788 | 14.5 years |
| 20 kW | $2.66 | $37,170 | $28,368 | 14.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Contract: Before signing a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: The kind of solar panel you'd like to get plays a part in which company you should go with, since different companies have different panels.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Otsego, NY Solar Cost FAQs
What is the average cost of installing solar panels in Otsego?
The average cost of solar panels in Otsego is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Otsego?
Solar panels aren't free in Otsego, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Otsego?
Each state has some kind 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 power bills.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had 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.
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.