Solar Panel Cost Guide in Peru, NY (2023 Update)
- Peru Solar Installation Cost: $9,602
- 25-Year Savings: $5,035
- Payback Period: 16.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Peru
Here's how much it might cost to go solar in Peru.
In Peru, solar panels cost about 2.95 per watt on average. To account for the typical energy needs of the average home in Peru, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs around $9,602, or $13,731 before the federal solar tax credit of 30% is applied.
The true cost of your system can go higher or lower than the average in Peru depending on several factors, such as the brand of solar panels you choose and the solar installer you hire. But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $12,000 over 20 years on electricity bills.
To get a free estimate from a pre-vetted solar installation company in Peru, you can click the button below.
Solar savings over time in Peru
| Year | Return on Investment |
|---|---|
| 1 years | $-9,017 |
| 3 years | $-7,846 |
| 5 years | $-6,675 |
| 7 years | $-5,504 |
| 9 years | $-4,333 |
| 11 years | $-3,162 |
| 13 years | $-1,991 |
| 15 years | $-820 |
| 17 years | $351 |
| 19 years | $1,522 |
| 21 years | $2,693 |
| 23 years | $3,864 |
| 25 years | $5,035 |
Top Solar Installers in Peru
When switching to solar energy, many homeowners prefer to go with a solar company since overseeing your solar installation yourself can be a difficult project. Plus, if you're unsure what type of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 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 is dependent on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space 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 raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Peru homeowners choose to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Peru, and each can charge different amounts for labor and equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that has the products, warranties and services you're looking for and also fits within 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 | $6,003 | 17.1 years |
| 8 kW | $3.01 | $16,850 | $8,334 | 16.7 years |
| 10 kW | $2.95 | $20,650 | $10,831 | 16.4 years |
| 12 kW | $2.89 | $24,284 | $13,493 | 16.1 years |
| 14 kW | $2.83 | $27,754 | $16,320 | 15.7 years |
| 16 kW | $2.77 | $31,058 | $19,312 | 15.4 years |
| 18 kW | $2.71 | $34,196 | $22,469 | 15.1 years |
| 20 kW | $2.66 | $37,170 | $25,792 | 14.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Before you sign a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 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 $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Peru is currently $145,159, which means you could be looking at a value of about $5,952 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Peru is a fruitful investment.
What solar power system size is right for 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 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.