Solar Panel Cost Guide in Owasco, NY (2023 Update)
- Owasco Solar Installation Cost: $9,563
- 25-Year Savings: $5,941
- Payback Period: 15.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Owasco
Here's how much it might cost to install solar panels in Owasco.
The average cost of solar panels in Owasco is 2.95 per watt. To account for the typical energy usage of the average home in Owasco, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs around $9,561, or $13,672 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Owasco homeowner. 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. But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $13,000 over 20 years on utility bills.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Owasco
| Year | Return on Investment |
|---|---|
| 1 years | $-9,511 |
| 3 years | $-9,408 |
| 5 years | $-9,304 |
| 7 years | $-9,201 |
| 9 years | $-9,098 |
| 11 years | $-8,994 |
| 13 years | $-8,891 |
| 15 years | $-8,788 |
| 17 years | $-8,684 |
| 19 years | $-8,581 |
| 21 years | $-8,478 |
| 23 years | $-8,374 |
| 25 years | $-8,271 |
Top Solar Installers in Owasco
Putting up solar panels yourself can be a difficult task, which is why hiring a solar installation company is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you decide which one will be right for you.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Owasco
Factors that Affect Solar Panel Costs in Owasco
There are a number of criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,950 per kilowatt in Owasco. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Owasco have solar loans, which reduce your upfront costs of installing a solar system. While solar loans make adopting solar energy more accessible for Owasco homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $7,201 | 16.0 years |
| 8 kW | $3.01 | $16,850 | $9,932 | 15.7 years |
| 10 kW | $2.95 | $20,650 | $12,828 | 15.4 years |
| 12 kW | $2.89 | $24,284 | $15,889 | 15.1 years |
| 14 kW | $2.83 | $27,754 | $19,116 | 14.8 years |
| 16 kW | $2.77 | $31,058 | $22,507 | 14.5 years |
| 18 kW | $2.71 | $34,196 | $26,064 | 14.2 years |
| 20 kW | $2.66 | $37,170 | $29,786 | 13.9 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. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: The brand of solar panel you'd like to install plays a part in which company you should choose, since different companies offer different panels.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
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 Owasco, NY Solar Cost FAQs
How much does it cost to install solar panels in Owasco?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Owasco, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact 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 what solar panel system size you need, you should find out how much energy your home needs 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 household 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.