Solar Panel Cost Guide in Skaneateles, NY (2023 Update)
- Skaneateles Solar Installation Cost: $9,565
- 25-Year Savings: $6,017
- Payback Period: 15.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Skaneateles
Find out what the average cost of solar panels are in Skaneateles.
Although the national average of solar panels is $2.66 per watt, solar panels in Skaneateles generally cost about 2.95. To account for the typical energy needs of the average home in Skaneateles, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs around $9,561, or $13,672 before the federal solar tax credit of 30% is applied.
These figures are just averages, and the cost of going solar for you may differ based on your specific situation and what company you go with. With average savings of about $13,000 on utility bills over 20 years, many homeowners in Skaneateles find installing solar panels can pay off big.
Click the button below to get connected to a vetted solar panel company in Skaneateles for a personalized quote.
Solar savings over time in Skaneateles
| Year | Return on Investment |
|---|---|
| 1 years | $-8,712 |
| 3 years | $-7,005 |
| 5 years | $-5,298 |
| 7 years | $-3,591 |
| 9 years | $-1,884 |
| 11 years | $-177 |
| 13 years | $1,530 |
| 15 years | $3,237 |
| 17 years | $4,944 |
| 19 years | $6,651 |
| 21 years | $8,358 |
| 23 years | $10,065 |
| 25 years | $11,772 |
Top Solar Installers in Skaneateles
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using a solar panel installer can make your switch to solar power much easier. Some solar companies, especially local ones, can help you better understand incentives in Skaneateles, thereby optimizing your ROI.
If you're looking for a solar installer in Skaneateles, the EcoWatch team has put together 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 Skaneateles
Factors that Affect Solar Panel Costs in Skaneateles
Even though the average cost of a solar system in Skaneateles is $9,561, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The brand of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Skaneateles offer solar loans, which reduce the initial cost of installing solar. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Skaneateles is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that offer a range of services at different price points. Additionally, some companies in Skaneateles know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $7,298 | 16.0 years |
| 8 kW | $3.01 | $16,850 | $10,061 | 15.7 years |
| 10 kW | $2.95 | $20,650 | $12,989 | 15.3 years |
| 12 kW | $2.89 | $24,284 | $16,083 | 15.0 years |
| 14 kW | $2.83 | $27,754 | $19,341 | 14.7 years |
| 16 kW | $2.77 | $31,058 | $22,765 | 14.4 years |
| 18 kW | $2.71 | $34,196 | $26,354 | 14.1 years |
| 20 kW | $2.66 | $37,170 | $30,108 | 13.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar company, be sure to look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
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 Skaneateles, NY Solar Cost FAQs
What is the average cost of installing solar panels in Skaneateles?
The average cost of solar panels in Skaneateles 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Skaneateles?
A solar panel system isn't free in Skaneateles, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $672.78 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires 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 household 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.