Solar Panel Cost Guide in Sidney, NY (2023 Update)
- Sidney Solar Installation Cost: $9,499
- 25-Year Savings: $5,301
- Payback Period: 16.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Sidney
Find out how much it might cost to install solar panels in Sidney.
In Sidney, solar panels cost about 2.95 per watt on average. To account for the typical energy usage of the average home in Sidney, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $9,499, or $13,584 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with. For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Sidney see about $12,000 in savings on energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Sidney
| Year | Return on Investment |
|---|---|
| 1 years | $-9,450 |
| 3 years | $-9,351 |
| 5 years | $-9,253 |
| 7 years | $-9,154 |
| 9 years | $-9,055 |
| 11 years | $-8,957 |
| 13 years | $-8,858 |
| 15 years | $-8,759 |
| 17 years | $-8,661 |
| 19 years | $-8,562 |
| 21 years | $-8,464 |
| 23 years | $-8,365 |
| 25 years | $-8,266 |
Top Solar Installers in Sidney
Many homeowners choose to hire a solar installation company since installing solar panels on your own can be a lot of work. Another perk of going with a solar installer is that they can help you optimize your investment by bringing down your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
If you're searching for a solar installer in Sidney, we've compiled 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 Sidney
Factors that Affect Solar Panel Costs in Sidney
There are several factors that can affect your 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
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,950. There are several different solar panel brands and the one you choose also affects the cost. Usually, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Sidney provide solar loans, which reduce your upfront costs of installing solar. Even though solar loans make going solar more accessible for Sidney homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installation company you pick will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, 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 | $6,418 | 16.7 years |
| 8 kW | $3.01 | $16,850 | $8,887 | 16.4 years |
| 10 kW | $2.95 | $20,650 | $11,522 | 16.0 years |
| 12 kW | $2.89 | $24,284 | $14,322 | 15.7 years |
| 14 kW | $2.83 | $27,754 | $17,287 | 15.4 years |
| 16 kW | $2.77 | $31,058 | $20,418 | 15.1 years |
| 18 kW | $2.71 | $34,196 | $23,713 | 14.8 years |
| 20 kW | $2.66 | $37,170 | $27,174 | 14.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: If you're worried about the longevity of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Sidney, NY Solar Cost FAQs
What is the average cost of installing solar panels in Sidney?
The average cost of solar panels in Sidney 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 consume.
Should I lease or buy solar panels in Sidney?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Do solar panels increase your property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't choose 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 solar panels."
How long do solar panels last in Sidney?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.