Solar Panel Cost Guide in Schenectady, NY (2023 Update)
- Schenectady Solar Installation Cost: $9,189
- 25-Year Savings: $7,018
- Payback Period: 14.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Schenectady
See how much it might cost to go solar in Schenectady.
Although the national average of solar panels is $2.66 per watt, solar panels in Schenectady generally cost about 2.95. The average Schenectady homeowner needs a 4.5-kilowatt system, which would cost about $9,189 with the federal tax credit, or $13,140 before the 30% 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 installing solar panels can vary depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average Schenectady homeowners see about $14,000 in savings on utility bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Schenectady
| Year | Return on Investment |
|---|---|
| 1 years | $-8,541 |
| 3 years | $-7,244 |
| 5 years | $-5,948 |
| 7 years | $-4,651 |
| 9 years | $-3,355 |
| 11 years | $-2,058 |
| 13 years | $-762 |
| 15 years | $535 |
| 17 years | $1,832 |
| 19 years | $3,128 |
| 21 years | $4,425 |
| 23 years | $5,721 |
| 25 years | $7,018 |
Top Solar Installers in Schenectady
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. The expertise that solar companies offer can be useful as well, particularly if you don't quite know what kind of solar equipment would be right for your home.
If you'd like to switch to solar energy but still aren't sure which solar panel company to go with, here are our recommendations for providers nearby:
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
For many Schenectady homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Schenectady, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over 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 energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,950 per kilowatt in Schenectady. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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, such as solar batteries, can bump up your total well above the Schenectady average.
Solar Financing Terms
Many homeowners find the average cost of solar in Schenectady to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Schenectady is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different price points. Companies that 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 provides the products, warranties and services you're looking for and also fit into 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 | $3.07 | $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 installer you go with will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The kind of solar panel you need to get plays a role in which installer you should choose, since different companies have access to different panels.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
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.