Solar Panel Cost Guide in Spencerport, NY (2024 Update)
- Spencerport Solar Installation Cost: $10,653
- 25-Year Savings: $8,137
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Spencerport
Find out what the average cost of solar panels are in Spencerport.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Spencerport, the typical cost of solar panels is 4 per watt.Using this figure, a typical 4.2-kW system would cost about $10,653 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Spencerport homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $15,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Spencerport that can help you get a more accurate cost estimate for your home.
Solar savings over time in Spencerport
| Year | Return on Investment |
|---|---|
| 1 years | $-9,744 |
| 3 years | $-7,927 |
| 5 years | $-6,110 |
| 7 years | $-4,293 |
| 9 years | $-2,476 |
| 11 years | $-658 |
| 13 years | $1,159 |
| 15 years | $2,976 |
| 17 years | $4,793 |
| 19 years | $6,610 |
| 21 years | $8,427 |
| 23 years | $10,244 |
| 25 years | $12,062 |
Top Solar Installers in Spencerport
When making the switch to solar, many homeowners choose to use a solar company since DIY solar panel installation can be a difficult project. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Spencerport
Factors that Affect Solar Panel Costs in Spencerport
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Spencerport: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar 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, you can expect your total to increase by about $3,650. The solar equipment you choose can increase or decrease your cost 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. However, higher efficiency could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Spencerport average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Spencerport homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also adds to your total costs, so it’s vital to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Spencerport is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services at different costs.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk 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 | $3.80 | $15,943 | $8,156 | 16.5 years |
| 8 kW | $3.72 | $20,849 | $11,284 | 16.2 years |
| 10 kW | $3.65 | $25,550 | $14,616 | 15.9 years |
| 12 kW | $3.58 | $30,047 | $18,152 | 15.6 years |
| 14 kW | $3.50 | $34,339 | $21,893 | 15.3 years |
| 16 kW | $3.43 | $38,427 | $25,838 | 14.9 years |
| 18 kW | $3.36 | $42,311 | $29,987 | 14.6 years |
| 20 kW | $3.29 | $45,990 | $34,341 | 14.3 years |
How to Save on Solar Panels
There are numerous companies available in Spencerport, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
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 Spencerport, NY Solar Cost FAQs
What is the average cost of installing solar panels in Spencerport?
The average cost of solar panels in Spencerport is about $18,250 for a 5-kW system and $36,500 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 use.
Should I lease or buy solar panels in Spencerport?
Leasing solar panels can be an appealing choice, because it often 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 way to go if you want to get the most savings.
How will having solar panels impact how much my home is worth?
Solar panels can increase the value of your home remarkably 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 many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 cover 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.