Solar Panel Cost Guide in Springville, NY (2024 Update)
- Springville Solar Installation Cost: $11,696
- 25-Year Savings: $6,051
- Payback Period: 18.9 Years
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Average Cost of Solar Panels in Springville
Find out what the average cost of solar panels are in Springville.
In Springville, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in Springville, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,696, or $16,725 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Springville homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Despite the large initial cost, the average Springville homeowner can save about $13,000 on their power bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a reputable solar panel company in Springville for a custom quote.
Solar savings over time in Springville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,870 |
| 3 years | $-9,218 |
| 5 years | $-7,566 |
| 7 years | $-5,914 |
| 9 years | $-4,263 |
| 11 years | $-2,611 |
| 13 years | $-959 |
| 15 years | $693 |
| 17 years | $2,345 |
| 19 years | $3,997 |
| 21 years | $5,648 |
| 23 years | $7,300 |
| 25 years | $8,952 |
Top Solar Installers in Springville
When making the switch to solar, many homeowners decide to use a solar installation company since overseeing your solar installation yourself can be a difficult project. Local solar installers can also help you maximize your return on investment by walking you through any local incentives you can take advantage of and by offering warranties and repairs.
If you're looking for a solar installer in Springville, we've 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 Springville
Factors that Affect Solar Panel Costs in Springville
While the average cost of a solar system in Springville is $11,696, your actual cost may differ. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar system in Springville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Springville to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you choose will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $4,377 | 19.6 years |
| 8 kW | $3.72 | $20,849 | $6,245 | 19.2 years |
| 10 kW | $3.65 | $25,550 | $8,318 | 18.9 years |
| 12 kW | $3.58 | $30,047 | $10,594 | 18.5 years |
| 14 kW | $3.50 | $34,339 | $13,075 | 18.1 years |
| 16 kW | $3.43 | $38,427 | $15,761 | 17.7 years |
| 18 kW | $3.36 | $42,311 | $18,651 | 17.4 years |
| 20 kW | $3.29 | $45,990 | $21,745 | 17.0 years |
How to Save on Solar Panels
There are a large number of companies available in Springville, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
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 Springville, NY Solar Cost FAQs
How much does it cost to install solar panels in Springville?
This is a tough question to answer exactly, 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. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Springville?
You can’t get solar panels for free in Springville. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Springville is currently $230,188, which means you could be looking at a value of about $9,438 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Springville is a fruitful investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.