Solar Panel Cost Guide in Ridgeway, NY (2023 Update)
- Ridgeway Solar Installation Cost: $8,517
- 25-Year Savings: $7,690
- Payback Period: 13.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Ridgeway
We go over average solar pricing in Ridgeway.
Although the national average of solar panels is $2.66 per watt, solar panels in Ridgeway generally cost about 2.95. Using this figure, a typical 4.1-kW system would cost about $8,508 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 actual cost of making the switch to solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what installation company you go with. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically good, with a net average savings of about $15,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar company in Ridgeway that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ridgeway
| Year | Return on Investment |
|---|---|
| 1 years | $-7,609 |
| 3 years | $-5,792 |
| 5 years | $-3,974 |
| 7 years | $-2,157 |
| 9 years | $-340 |
| 11 years | $1,477 |
| 13 years | $3,294 |
| 15 years | $5,111 |
| 17 years | $6,928 |
| 19 years | $8,746 |
| 21 years | $10,563 |
| 23 years | $12,380 |
| 25 years | $14,197 |
Top Solar Installers in Ridgeway
Putting up solar panels yourself can be a challenging task, which is why using a solar installer is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be best for you.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Ridgeway
Factors that Affect Solar Panel Costs in Ridgeway
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Ridgeway: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,950 per kilowatt in Ridgeway. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Ridgeway, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Ridgeway homeowners choose to finance their solar panel systems to offset upfront costs. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies in Ridgeway, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 | $10,690 | 13.7 years |
| 8 kW | $3.01 | $16,850 | $14,584 | 13.4 years |
| 10 kW | $2.95 | $20,650 | $18,643 | 13.1 years |
| 12 kW | $2.89 | $24,284 | $22,867 | 12.9 years |
| 14 kW | $2.83 | $27,754 | $27,257 | 12.6 years |
| 16 kW | $2.77 | $31,058 | $31,811 | 12.4 years |
| 18 kW | $2.71 | $34,196 | $36,531 | 12.1 years |
| 20 kW | $2.66 | $37,170 | $41,416 | 11.8 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 models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: An important thing 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 acquire and what the project timeline is.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Contract: When looking over 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 such as a system part breaking or if the company goes out of business.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
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 Ridgeway, NY Solar Cost FAQs
What is the average cost of installing solar panels in Ridgeway?
The average cost of solar panels in Ridgeway 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 such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities 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 much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Ridgeway, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Ridgeway?
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 higher level 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.