Solar Panel Cost Guide in Schenectady, NY (2023 Update)
- Schenectady Solar Installation Cost: $9,182
- 25-Year Savings: $7,025
- Payback Period: 14.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Schenectady
Find out what the average cost of installing solar panels is in Schenectady.
The national average cost of solar panels is $2.66 per watt, but in Schenectady it's 2.95 per watt. To account for the typical energy needs of the average home in Schenectady, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs around $9,189, or $13,140 before the federal solar tax credit of 30% 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 installing solar panels can vary based on several factors, such as what size system you need, your energy usage and what installation company you go with. With typical savings of about $14,000 on power bills over 20 years, many homeowners in Schenectady find installing solar panels can pay off big.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Schenectady
| Year | Return on Investment |
|---|---|
| 1 years | $-8,274 |
| 3 years | $-6,456 |
| 5 years | $-4,639 |
| 7 years | $-2,822 |
| 9 years | $-1,005 |
| 11 years | $812 |
| 13 years | $2,629 |
| 15 years | $4,447 |
| 17 years | $6,264 |
| 19 years | $8,081 |
| 21 years | $9,898 |
| 23 years | $11,715 |
| 25 years | $13,532 |
Top Solar Installers in Schenectady
Although it's possible to install solar panels on your own, it requires extra time and expertise. That's one of the reasons most people choose to go with a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're searching for a solar company in Schenectady, the EcoWatch team has organized a list of our top suggestions here:
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 Schenectady
Factors that Affect Solar Panel Costs in Schenectady
There are several criteria that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the price of a solar system in Schenectady, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by around $2,950 for each additional kilowatt you need. The type of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Schenectady to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time because of interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can influence your pricing. Schenectady's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes 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 | $8,983 | 14.7 years |
| 8 kW | $3.01 | $16,850 | $12,308 | 14.4 years |
| 10 kW | $2.95 | $20,650 | $15,798 | 14.2 years |
| 12 kW | $2.89 | $24,284 | $19,454 | 13.9 years |
| 14 kW | $2.83 | $27,754 | $23,274 | 13.6 years |
| 16 kW | $2.77 | $31,058 | $27,260 | 13.3 years |
| 18 kW | $2.71 | $34,196 | $31,411 | 13.0 years |
| 20 kW | $2.66 | $37,170 | $35,727 | 12.7 years |
How to Save on Solar Panels
The solar company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Warranty: If you care about the longevity of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
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 Schenectady, NY Solar Cost FAQs
What is the average cost of installing solar panels in Schenectady?
This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Schenectady, 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 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 are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having 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.