Solar Panel Cost Guide in Palmyra, NY (2024 Update)
- Palmyra Solar Installation Cost: $11,083
- 25-Year Savings: $7,086
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Palmyra
Find out what the average cost of solar panels are in Palmyra.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Palmyra, the average cost of solar panels is 4 per watt.The average solar panel system size in Palmyra is around 4.3 kilowatts, meaning a cost of about $11,083 for a solar installation, or $15,849 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Palmyra homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar company in Palmyra for a quote for your home.
Solar savings over time in Palmyra
| Year | Return on Investment |
|---|---|
| 1 years | $-10,257 |
| 3 years | $-8,605 |
| 5 years | $-6,953 |
| 7 years | $-5,301 |
| 9 years | $-3,650 |
| 11 years | $-1,998 |
| 13 years | $-346 |
| 15 years | $1,306 |
| 17 years | $2,958 |
| 19 years | $4,610 |
| 21 years | $6,261 |
| 23 years | $7,913 |
| 25 years | $9,565 |
Top Solar Installers in Palmyra
Installing solar panels on your own can be a difficult project, which is why using a solar installation company is a good option for many homeowners. Another great thing about choosing a top solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Palmyra
Factors that Affect Solar Panel Costs in Palmyra
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Palmyra: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.There are many different solar panel brands and the one you choose also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.Though solar loans make switching to solar energy more accessible for Palmyra homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Palmyra, and each can charge different amounts for labor and equipment.Additionally, some companies in Palmyra know more 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 | $3.80 | $15,943 | $6,248 | 18.0 years |
| 8 kW | $3.72 | $20,849 | $8,739 | 17.6 years |
| 10 kW | $3.65 | $25,550 | $11,435 | 17.3 years |
| 12 kW | $3.58 | $30,047 | $14,335 | 16.9 years |
| 14 kW | $3.50 | $34,339 | $17,439 | 16.6 years |
| 16 kW | $3.43 | $38,427 | $20,748 | 16.2 years |
| 18 kW | $3.36 | $42,311 | $24,262 | 15.9 years |
| 20 kW | $3.29 | $45,990 | $27,979 | 15.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Palmyra, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Solar Panel Brands: The model of solar panel you want to install plays a part in which company you should choose, since different companies have different panels.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Palmyra, NY Solar Cost FAQs
What is the average cost of installing solar panels in Palmyra?
The average cost of solar panels in Palmyra is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Palmyra?
You can’t get solar panels for free in Palmyra. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Palmyra have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.