Solar Panel Cost Guide in Scotia, NY (2023 Update)
- Scotia 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 Scotia
See how much it might cost to go solar in Scotia.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Scotia, the typical cost of a solar system is 2.95 per watt. The average Scotia 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.
How much you pay can be above or below the average in Scotia depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire. With average savings of about $14,000 on utility bills over 20 years, many homeowners in Scotia find installing solar panels can be quite rewarding.
Click the button below to get connected to a top solar panel company in your area for a custom estimate.
Solar savings over time in Scotia
| Year | Return on Investment |
|---|---|
| 1 years | $-9,128 |
| 3 years | $-9,020 |
| 5 years | $-8,912 |
| 7 years | $-8,804 |
| 9 years | $-8,696 |
| 11 years | $-8,588 |
| 13 years | $-8,480 |
| 15 years | $-8,372 |
| 17 years | $-8,264 |
| 19 years | $-8,156 |
| 21 years | $-8,048 |
| 23 years | $-7,940 |
| 25 years | $-7,832 |
Top Solar Installers in Scotia
Many homeowners decide to hire a solar panel installer since trying to install solar panels by yourself can be time-consuming. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
Working with a licensed solar company can make going solar easier. 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 Scotia
Factors that Affect Solar Panel Costs in Scotia
Although the average cost of a solar system in Scotia is $9,189, your actual cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar panel system in Scotia, one of the most important 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 usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,950 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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 electric bills. In addition, extra products, such as solar batteries, can bump up your total well above the Scotia average.
Solar Financing Terms
Most solar installers in Scotia offer solar loans, which reduce the initial cost of installing solar. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Scotia, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $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 company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies have various brands and types of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Warranty: If you care about the durability of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
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 Scotia, NY Solar Cost FAQs
How much does it cost to install solar panels in Scotia?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to 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 goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will installing solar panels impact the value of my home?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't opt 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 long do solar panels last in Scotia?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.