Solar Panel Cost Guide in Solvay, NY (2024 Update)
- Solvay Solar Installation Cost: $11,835
- 25-Year Savings: $4,220
- Payback Period: 21.5 Years
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Average Cost of Solar Panels in Solvay
Let’s have a look at the average cost of solar in Solvay.
In Solvay, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Solvay, most homeowners require a 4.6-kilowatt system. Using the 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 Solvay homeowner. 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.Despite the significant initial cost, the average Solvay homeowner can save about $11,000 on their energy bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a highly rated solar installer in your area for a customized estimate.
Solar savings over time in Solvay
| Year | Return on Investment |
|---|---|
| 1 years | $-10,967 |
| 3 years | $-9,233 |
| 5 years | $-7,498 |
| 7 years | $-5,764 |
| 9 years | $-4,029 |
| 11 years | $-2,295 |
| 13 years | $-560 |
| 15 years | $1,174 |
| 17 years | $2,909 |
| 19 years | $4,643 |
| 21 years | $6,377 |
| 23 years | $8,112 |
| 25 years | $9,846 |
Top Solar Installers in Solvay
Many homeowners choose to use a solar installation company since figuring out how to install solar panels by yourself can be a labor-intensive endeavor. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
If you're looking for a solar company in Solvay, the EcoWatch team has put together a list of our top suggestions here:
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 Solvay
Factors that Affect Solar Panel Costs in Solvay
The cost of installing a solar system in Solvay can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important 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 increase or decrease your cost 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, higher efficiency could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Solvay average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Solvay, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have 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 promotion can bring their pricing lower to compete with bigger names.
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 | $1,913 | 22.3 years |
| 8 kW | $3.72 | $20,849 | $2,959 | 21.9 years |
| 10 kW | $3.65 | $25,550 | $4,210 | 21.5 years |
| 12 kW | $3.58 | $30,047 | $5,665 | 21.0 years |
| 14 kW | $3.50 | $34,339 | $7,325 | 20.6 years |
| 16 kW | $3.43 | $38,427 | $9,189 | 20.2 years |
| 18 kW | $3.36 | $42,311 | $11,257 | 19.7 years |
| 20 kW | $3.29 | $45,990 | $13,530 | 19.3 years |
How to Save on Solar Panels
There are a large number of companies available in Solvay, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- 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 unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Solvay, NY Solar Cost FAQs
How much does it cost to install solar panels in Solvay?
This is a tough question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Solvay have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
How long do solar panels last in Solvay?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to 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.