Solar Panel Cost Guide in Owasco, NY (2023 Update)
- Owasco Solar Installation Cost: $9,561
- 25-Year Savings: $5,943
- Payback Period: 15.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Owasco
Find out what the average cost of a solar system is in Owasco.
In Owasco, solar panels cost about 2.95 per watt on average. To account for the typical energy needs of the average home in Owasco, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,561, or $13,672 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of solar system you choose, your solar contractor and more. Despite the high initial cost, the average Owasco homeowner can save about $13,000 on their power bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Owasco
| Year | Return on Investment |
|---|---|
| 1 years | $-8,941 |
| 3 years | $-7,701 |
| 5 years | $-6,460 |
| 7 years | $-5,220 |
| 9 years | $-3,980 |
| 11 years | $-2,739 |
| 13 years | $-1,499 |
| 15 years | $-259 |
| 17 years | $981 |
| 19 years | $2,222 |
| 21 years | $3,462 |
| 23 years | $4,702 |
| 25 years | $5,943 |
Top Solar Installers in Owasco
Although you can install solar panels yourself, it involves extra effort and expertise. Because of that, the majority of homeowners choose to hire a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you'd like to switch to solar energy but still aren't sure which solar panel installer to go with, here are our recommendations for providers nearby:
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 Owasco
Factors that Affect Solar Panel Costs in Owasco
For many Owasco homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Owasco, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Owasco, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,950 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Owasco, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Owasco is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services for different budgets. 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 at a higher cost. It's best to do some research and decide on the company that offers the products, warranties and services you want and also fit into 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 | $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
Since the brand of solar panels and the installation company you choose considerably influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Contract: Read the contract terms closely to make sure you understand the total cost, completion timeline incentives and warranties.
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 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.