Solar Panel Cost Guide in Skaneateles, NY (2024 Update)
- Skaneateles Solar Installation Cost: $11,835
- 25-Year Savings: $6,017
- Payback Period: 19.0 Years
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Average Cost of Solar Panels in Skaneateles
Let’s have a look at the average cost of solar panels in Skaneateles.
The national average cost of solar panels is $2.66 per watt, but in Skaneateles it’s 4 per watt.To account for the typical energy usage of the average home in Skaneateles, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,835, or $16,924 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Skaneateles homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $13,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar installer in Skaneateles that can help you get a more accurate cost estimate for your home.
Solar savings over time in Skaneateles
| Year | Return on Investment |
|---|---|
| 1 years | $-10,981 |
| 3 years | $-9,274 |
| 5 years | $-7,567 |
| 7 years | $-5,860 |
| 9 years | $-4,153 |
| 11 years | $-2,447 |
| 13 years | $-740 |
| 15 years | $967 |
| 17 years | $2,674 |
| 19 years | $4,381 |
| 21 years | $6,088 |
| 23 years | $7,795 |
| 25 years | $9,502 |
Top Solar Installers in Skaneateles
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Using a solar company can make your switch to solar power much easier. A solar company can also help save you money over time by providing warranties, repairs and part replacements.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Skaneateles
Factors that Affect Solar Panel Costs in Skaneateles
For many Skaneateles homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Skaneateles, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,650. The solar equipment you choose can bring your price up or down 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. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Skaneateles average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Skaneateles, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the growing popularity of clean energy solutions in Skaneateles, you’ll have many options to choose from, but each comes at various price points for labor and equipment.The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $4,240 | 19.7 years |
| 8 kW | $3.72 | $20,849 | $6,062 | 19.4 years |
| 10 kW | $3.65 | $25,550 | $8,089 | 19.0 years |
| 12 kW | $3.58 | $30,047 | $10,320 | 18.6 years |
| 14 kW | $3.50 | $34,339 | $12,756 | 18.2 years |
| 16 kW | $3.43 | $38,427 | $15,395 | 17.8 years |
| 18 kW | $3.36 | $42,311 | $18,240 | 17.5 years |
| 20 kW | $3.29 | $45,990 | $21,288 | 17.1 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Skaneateles, NY Solar Cost FAQs
How much does it cost to install solar panels in Skaneateles?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 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 above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Skaneateles?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Can you sell solar power back to the grid in Skaneateles?
The majority of states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.