Solar Panel Cost Guide in Penn Yan, NY (2023 Update)
- Penn Yan Solar Installation Cost: $9,549
- 25-Year Savings: $5,251
- Payback Period: 16.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Penn Yan
We go over average solar pricing in Penn Yan.
The average cost of a solar panel system in Penn Yan is 2.95 per watt. The average Penn Yan homeowner needs a 4.6-kilowatt system, which would cost about $9,540 with the federal tax credit, or $13,642 before the 30% tax credit is applied.
These figures are only estimates, and your own solar costs will differ based on your specific situation and what company you choose to go with. Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Penn Yan can save about $12,000 on their electricity bills over 20 years.
To get a free estimate from a top solar installation company in Penn Yan, you can click the button below.
Solar savings over time in Penn Yan
| Year | Return on Investment |
|---|---|
| 1 years | $-9,500 |
| 3 years | $-9,401 |
| 5 years | $-9,303 |
| 7 years | $-9,204 |
| 9 years | $-9,105 |
| 11 years | $-9,007 |
| 13 years | $-8,908 |
| 15 years | $-8,809 |
| 17 years | $-8,711 |
| 19 years | $-8,612 |
| 21 years | $-8,513 |
| 23 years | $-8,415 |
| 25 years | $-8,316 |
Top Solar Installers in Penn Yan
Although it's possible to install solar panels yourself, it requires extra effort and know-how. That's one of the reasons almost all homeowners choose to go with a solar panel installer. In addition, if you'd like to maximize your investment in solar power, going with a solar company can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Penn Yan:
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 Penn Yan
Factors that Affect Solar Panel Costs in Penn Yan
There are a number of factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,950. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Penn Yan, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Penn Yan have solar loans, which reduce the initial cost of installing solar. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Penn Yan, and each can charge different amounts for labor and equipment. Additionally, some companies in Penn Yan are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $3.07 | $12,886 | $6,317 | 16.8 years |
| 8 kW | $3.01 | $16,850 | $8,753 | 16.5 years |
| 10 kW | $2.95 | $20,650 | $11,354 | 16.1 years |
| 12 kW | $2.89 | $24,284 | $14,120 | 15.8 years |
| 14 kW | $2.83 | $27,754 | $17,052 | 15.5 years |
| 16 kW | $2.77 | $31,058 | $20,149 | 15.2 years |
| 18 kW | $2.71 | $34,196 | $23,411 | 14.8 years |
| 20 kW | $2.66 | $37,170 | $26,838 | 14.5 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Reputation: Your solar installer should have a solid reputation as a company and have proven 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 past customers.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Penn Yan, NY Solar Cost FAQs
How much does it cost to install solar panels in Penn Yan?
This is a hard question to answer exactly, 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 cost more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost 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.
How will having solar panels impact the value of my home?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.