Solar Panel Cost Guide in Peru, NY (2024 Update)
- Peru Solar Installation Cost: $11,879
- 25-Year Savings: $5,036
- Payback Period: 20.3 Years
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Average Cost of Solar Panels in Peru
Find out what the average cost of a solar system is in Peru.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Peru, the average cost of solar panels is 4 per watt.Because a 4.6-kW system is needed to cover the energy costs of a typical home in Peru, the average price of going solar will be about $11,879 after claiming the federal solar tax credit of 0.
The actual price you pay can be above or below the average in Peru depending on a few factors, such as the brand of solar panels you choose and the solar company you hire.Even with the high upfront cost, the average Peru homeowner can save about $12,000 on their power bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a highly rated solar installation company in Peru, you can click the button below.
Solar savings over time in Peru
| Year | Return on Investment |
|---|---|
| 1 years | $-11,053 |
| 3 years | $-9,402 |
| 5 years | $-7,750 |
| 7 years | $-6,098 |
| 9 years | $-4,446 |
| 11 years | $-2,794 |
| 13 years | $-1,142 |
| 15 years | $509 |
| 17 years | $2,161 |
| 19 years | $3,813 |
| 21 years | $5,465 |
| 23 years | $7,117 |
| 25 years | $8,769 |
Top Solar Installers in Peru
Many homeowners opt for a solar panel installer since trying to install solar panels by yourself can be time-consuming. A solar installer can also help save you money over time by providing warranties, repairs and component replacements.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Peru
Factors that Affect Solar Panel Costs in Peru
The cost of installing a solar system in Peru can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher 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 $3,650.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Peru, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Peru to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Peru is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that offer a range of services at different costs.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $2,945 | 21.1 years |
| 8 kW | $3.72 | $20,849 | $4,336 | 20.7 years |
| 10 kW | $3.65 | $25,550 | $5,931 | 20.3 years |
| 12 kW | $3.58 | $30,047 | $7,730 | 19.9 years |
| 14 kW | $3.50 | $34,339 | $9,734 | 19.5 years |
| 16 kW | $3.43 | $38,427 | $11,942 | 19.1 years |
| 18 kW | $3.36 | $42,311 | $14,355 | 18.7 years |
| 20 kW | $3.29 | $45,990 | $16,972 | 18.3 years |
How to Save on Solar Panels
There are numerous companies available in Peru, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, completion timeline incentives and warranties.
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 Peru, NY Solar Cost FAQs
How much does it cost to install solar panels in Peru?
The average cost of solar panels in Peru is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
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.