Solar Panel Cost Guide in Schodack, NY (2023 Update)
- Schodack Solar Installation Cost: $9,416
- 25-Year Savings: $7,094
- Payback Period: 14.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Schodack
Let's take a look at the average cost of solar panels in Schodack.
The national average cost of solar panels is $2.66 per watt, but in Schodack it's 2.95 per watt. To cover the typical energy needs of the average home in Schodack, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs around $9,416, or $13,465 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and your own solar costs will most likely differ based on factors unique to your home and what company you choose to go with. Many homeowners find installing a solar panel system is a sound investment. The average homeowner in Schodack can save around $14,000 on their electricity bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Schodack
| Year | Return on Investment |
|---|---|
| 1 years | $-8,756 |
| 3 years | $-7,435 |
| 5 years | $-6,114 |
| 7 years | $-4,793 |
| 9 years | $-3,473 |
| 11 years | $-2,152 |
| 13 years | $-831 |
| 15 years | $490 |
| 17 years | $1,811 |
| 19 years | $3,132 |
| 21 years | $4,452 |
| 23 years | $5,773 |
| 25 years | $7,094 |
Top Solar Installers in Schodack
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your switch to solar power much easier. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be best for your family.
Working with a licensed solar company 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 Schodack
Factors that Affect Solar Panel Costs in Schodack
The cost of installing a solar system in Schodack can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Schodack, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment is more than just the solar panels themselves. You'll also need to decide on 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
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Schodack homeowners decide to finance their solar panel systems to offset upfront costs. Although solar loans make adopting solar energy more accessible for Schodack homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you select will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Schodack are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $8,828 | 14.8 years |
| 8 kW | $3.01 | $16,850 | $12,101 | 14.6 years |
| 10 kW | $2.95 | $20,650 | $15,539 | 14.3 years |
| 12 kW | $2.89 | $24,284 | $19,142 | 14.0 years |
| 14 kW | $2.83 | $27,754 | $22,911 | 13.7 years |
| 16 kW | $2.77 | $31,058 | $26,844 | 13.4 years |
| 18 kW | $2.71 | $34,196 | $30,943 | 13.1 years |
| 20 kW | $2.66 | $37,170 | $35,208 | 12.8 years |
How to Save on Solar Panels
The solar installer you opt for will affect 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 a few important things you should consider, such as:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it 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 substantial role in the company you go with.
- Reputation: Companies that have been operating for many years likely have a good 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 support, such as part repairs and replacements.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
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 Schodack, NY Solar Cost FAQs
How much does it cost to install solar panels in Schodack?
The average cost of solar panels in Schodack is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model 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 without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.