Solar Panel Cost Guide in Spring Valley, NY (2023 Update)
- Spring Valley Solar Installation Cost: $8,756
- 25-Year Savings: $18,344
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Spring Valley
Let's take a look at the average cost of solar panels in Spring Valley.
While the national average of solar panels is $2.66 per watt, solar panels in Spring Valley typically cost about 2.95. Using this figure, a typical 4.2-kW system would cost about $8,756 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. With average savings of about $24,000 on utility bills over 20 years, many homeowners in Spring Valley find investing in solar can be quite rewarding.
Click the button below to get connected to a vetted solar panel company in Spring Valley for a custom estimate.
Solar savings over time in Spring Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-7,672 |
| 3 years | $-5,504 |
| 5 years | $-3,336 |
| 7 years | $-1,168 |
| 9 years | $1,000 |
| 11 years | $3,168 |
| 13 years | $5,336 |
| 15 years | $7,504 |
| 17 years | $9,672 |
| 19 years | $11,840 |
| 21 years | $14,008 |
| 23 years | $16,176 |
| 25 years | $18,344 |
Top Solar Installers in Spring Valley
When going solar, many homeowners opt to use a solar company since handling can be a challenging project. Plus, if you're not certain what brand of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are several licensed solar professionals that can help you install your solar system. 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
See all of the solar companies in Spring Valley
Factors that Affect Solar Panel Costs in Spring Valley
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Spring Valley: 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 cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,950. The type of 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. On the other hand, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Spring Valley average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Spring Valley homeowners opt to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your total costs, so it's vital to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can affect your pricing. Spring Valley's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $3.07 | $12,886 | $25,446 | 8.4 years |
| 8 kW | $3.01 | $16,850 | $34,259 | 8.2 years |
| 10 kW | $2.95 | $20,650 | $43,236 | 8.1 years |
| 12 kW | $2.89 | $24,284 | $52,379 | 7.9 years |
| 14 kW | $2.83 | $27,754 | $61,687 | 7.8 years |
| 16 kW | $2.77 | $31,058 | $71,161 | 7.6 years |
| 18 kW | $2.71 | $34,196 | $80,799 | 7.4 years |
| 20 kW | $2.66 | $37,170 | $90,603 | 7.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, completion timeline incentives and warranties.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Spring Valley, NY Solar Cost FAQs
What is the average cost of installing solar panels in Spring Valley?
The average cost of solar panels in Spring Valley 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 such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Spring Valley?
You can't get solar panels for free in Spring Valley. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Spring Valley?
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 utility bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.