Solar Panel Cost Guide in Red Oaks Mill, NY (2023 Update)
- Red Oaks Mill Solar Installation Cost: $8,983
- 25-Year Savings: $13,018
- Payback Period: 10.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Red Oaks Mill
Let's have a look at the average cost of solar panels in Red Oaks Mill.
Although the national average of solar panels is $2.66 per watt, solar panels in Red Oaks Mill typically cost around 2.95. The average solar panel system size in Red Oaks Mill is around 4.3 kilowatts, meaning a cost of about $8,983 for a solar installation, or $12,846 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary based on several factors, such as what size system you need, your energy usage and what solar installer you go with. With typical savings of about $19,000 on electricity bills over 20 years, many homeowners in Red Oaks Mill find installing solar panels has a decent ROI.
You can click the button below to get connected with a vetted solar company in Red Oaks Mill for a quote for your home.
Solar savings over time in Red Oaks Mill
| Year | Return on Investment |
|---|---|
| 1 years | $-8,103 |
| 3 years | $-6,343 |
| 5 years | $-4,583 |
| 7 years | $-2,823 |
| 9 years | $-1,063 |
| 11 years | $697 |
| 13 years | $2,458 |
| 15 years | $4,218 |
| 17 years | $5,978 |
| 19 years | $7,738 |
| 21 years | $9,498 |
| 23 years | $11,258 |
| 25 years | $13,018 |
Top Solar Installers in Red Oaks Mill
Putting up solar panels on your own can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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 Red Oaks Mill
Factors that Affect Solar Panel Costs in Red Oaks Mill
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Red Oaks Mill: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,950. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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. Also, 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 power bills over many years, but they can also be a significant investment. That's why many Red Oaks Mill homeowners opt to finance their solar panel systems to make going solar more affordable. Though solar loans make adopting solar energy more accessible for Red Oaks Mill homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Red Oaks Mill is the company you choose to install your PV system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $17,451 | 10.6 years |
| 8 kW | $3.01 | $16,850 | $23,599 | 10.4 years |
| 10 kW | $2.95 | $20,650 | $29,912 | 10.2 years |
| 12 kW | $2.89 | $24,284 | $36,389 | 10.0 years |
| 14 kW | $2.83 | $27,754 | $43,033 | 9.8 years |
| 16 kW | $2.77 | $31,058 | $49,841 | 9.6 years |
| 18 kW | $2.71 | $34,196 | $56,814 | 9.4 years |
| 20 kW | $2.66 | $37,170 | $63,953 | 9.2 years |
How to Save on Solar Panels
There are numerous companies available in Red Oaks Mill, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- 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 should know with your solar company, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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 Red Oaks Mill, NY Solar Cost FAQs
How much does it cost to install solar panels in Red Oaks Mill?
The average cost of solar panels in Red Oaks Mill 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is a very important 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 trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will solar panels impact my property value?
Solar panels can increase your property's value considerably 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% after installing a solar system."
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.