Solar Panel Cost Guide in Ravena, NY (Jan 2023)

  • Ravena Solar Installation Cost: $9,189
  • 25-Year Savings: $9,914
  • Payback Period: 12.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Ravena

Let's take a look at the average cost of solar in Ravena.

In Ravena, solar panels cost about $3 per watt on average. Since a 4.5-kW system is needed to cover the energy needs of a typical home in Ravena, the average price of going solar will be about $9,189 before claiming the federal solar tax credit of 30%.

The true price you pay can go above or below the average in Ravena based on a few factors, such as the model of solar panels you choose and the solar contractor you hire. But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on energy bills.

Click the button below to get connected to a highly rated solar installer in your area for a customized estimate.

Solar savings over time in Ravena

Year Return on Investment
1 years $-8,425
3 years $-6,897
5 years $-5,368
7 years $-3,840
9 years $-2,312
11 years $-784
13 years $745
15 years $2,273
17 years $3,801
19 years $5,330
21 years $6,858
23 years $8,386
25 years $9,914

Top Solar Installers in Ravena

Although it's possible to install solar panels by yourself, it requires extra time and handiness. Because of that, the majority of homeowners choose to hire a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.

Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Ravena

Factors that Affect Solar Panel Costs in Ravena

For many Ravena homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Ravena, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have 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 $2,950. The type of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Ravena, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of 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 more than the original 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 last significant cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Ravena, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.

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 $12,851 12.5 years
8 kW $3.01 $16,850 $17,465 12.3 years
10 kW $2.95 $20,650 $22,244 12.0 years
12 kW $2.89 $24,284 $27,189 11.8 years
14 kW $2.83 $27,754 $32,299 11.6 years
16 kW $2.77 $31,058 $37,573 11.3 years
18 kW $2.71 $34,196 $43,014 11.1 years
20 kW $2.66 $37,170 $48,619 10.8 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:

  • Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
  • Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
  • Solar Panel Brands: The brand of solar panel you'd like to install plays a part in which company you should go with, since different companies have access to different panels.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Ravena, NY Solar Cost FAQs

How much does it cost to install solar panels in Ravena?

This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Ravena?

Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

How much can I save on power bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $857.89 per year.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.

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.

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