Solar Panel Cost Guide in Solvay, NY (2023 Update)
- Solvay Solar Installation Cost: $9,561
- 25-Year Savings: $4,224
- Payback Period: 17.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Solvay
Find out how much it might cost to make the switch to solar in Solvay.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Solvay, the average cost of solar panels is 2.95 per watt. The average Solvay homeowner needs a 4.6-kilowatt system, which would cost about $9,561 with the federal tax credit, or $13,672 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar panels you want, your solar contractor and more. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $11,000 over 20 years on electricity bills.
Click the button below to get connected to a reputable solar installer in your area for a custom quote.
Solar savings over time in Solvay
| Year | Return on Investment |
|---|---|
| 1 years | $-9,010 |
| 3 years | $-7,907 |
| 5 years | $-6,804 |
| 7 years | $-5,701 |
| 9 years | $-4,598 |
| 11 years | $-3,496 |
| 13 years | $-2,393 |
| 15 years | $-1,290 |
| 17 years | $-187 |
| 19 years | $916 |
| 21 years | $2,018 |
| 23 years | $3,121 |
| 25 years | $4,224 |
Top Solar Installers in Solvay
Trying to put up solar panels yourself can be a stressful task, which is why using a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance in the long run.
If you'd like to start using solar energy but still aren't certain which solar company to go with, here are our suggestions for providers in Solvay:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Solvay
Factors that Affect Solar Panel Costs in Solvay
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Solvay: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $2,950 per kilowatt in Solvay. There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Solvay offer solar loans, which reduce your upfront costs of installing solar. Although solar loans make adopting solar energy more accessible for Solvay 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 installer you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Solvay, and each can charge varying amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that has the products, warranties and services you're looking for and also fit into your budget.
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 | $4,970 | 18.0 years |
| 8 kW | $3.01 | $16,850 | $6,958 | 17.7 years |
| 10 kW | $2.95 | $20,650 | $9,110 | 17.3 years |
| 12 kW | $2.89 | $24,284 | $11,428 | 17.0 years |
| 14 kW | $2.83 | $27,754 | $13,910 | 16.7 years |
| 16 kW | $2.77 | $31,058 | $16,558 | 16.3 years |
| 18 kW | $2.71 | $34,196 | $19,372 | 16.0 years |
| 20 kW | $2.66 | $37,170 | $22,350 | 15.6 years |
How to Save on Solar Panels
The solar company you go with will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Different companies offer various brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Contract: Before you sign 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 to do if a part breaks or malfunctions and what services you can expect from them.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Solvay, NY Solar Cost FAQs
What is the average cost of installing solar panels in Solvay?
The average cost of solar panels in Solvay 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 stuff like the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for lots 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 energy bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Solvay?
Even 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 the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using 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.