Solar Panel Cost Guide in Phelps, NY (2024 Update)
- Phelps Solar Installation Cost: $11,777
- 25-Year Savings: $6,214
- Payback Period: 18.7 Years
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Average Cost of Solar Panels in Phelps
Find out what the average cost of solar panels are in Phelps.
Although the national average of solar panels is $2.66 per watt, solar panels in Phelps typically cost around 4.To account for the typical energy needs of the average home in Phelps, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $11,777, or $16,841 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Phelps homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $13,000 on electricity bills over 20 years, many homeowners in Phelps find installing solar panels can be quite rewarding.
To get a free quote from a pre-vetted solar company in Phelps, you can click the button below.
Solar savings over time in Phelps
| Year | Return on Investment |
|---|---|
| 1 years | $-10,951 |
| 3 years | $-9,299 |
| 5 years | $-7,647 |
| 7 years | $-5,995 |
| 9 years | $-4,344 |
| 11 years | $-2,692 |
| 13 years | $-1,040 |
| 15 years | $612 |
| 17 years | $2,264 |
| 19 years | $3,916 |
| 21 years | $5,567 |
| 23 years | $7,219 |
| 25 years | $8,871 |
Top Solar Installers in Phelps
When making the switch to solar, many homeowners opt to hire a solar installation company since DIY solar panel installation can be a time-consuming project. Another advantage of going with a solar installer is that they can help you make the most of your return of investment by lowering your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
If you're looking for a solar installer in Phelps, we've compiled a list of our top suggestions here:
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 Phelps
Factors that Affect Solar Panel Costs in Phelps
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Phelps: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Phelps average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can impact your pricing. Phelps’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that offers the products, warranties and services you want and also is 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 | $3.80 | $15,943 | $4,535 | 19.5 years |
| 8 kW | $3.72 | $20,849 | $6,456 | 19.1 years |
| 10 kW | $3.65 | $25,550 | $8,581 | 18.7 years |
| 12 kW | $3.58 | $30,047 | $10,910 | 18.3 years |
| 14 kW | $3.50 | $34,339 | $13,444 | 18.0 years |
| 16 kW | $3.43 | $38,427 | $16,182 | 17.6 years |
| 18 kW | $3.36 | $42,311 | $19,125 | 17.2 years |
| 20 kW | $3.29 | $45,990 | $22,272 | 16.8 years |
How to Save on Solar Panels
There are a large number of companies available in Phelps, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar company. See to it that you understand how the installation process works and the project completion timeline.
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Phelps, NY Solar Cost FAQs
What is the average cost of installing solar panels in Phelps?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Phelps, that will require at least a 10-kW system. Not all homes will have roofs that 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 should I get to power my home?
To figure out how many solar panels 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 typically produce about 250 to 400 watt-hours per hour, the average home 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.