Solar Panel Cost Guide in Tonawanda, NY (2023 Update)
- Tonawanda Solar Installation Cost: $9,453
- 25-Year Savings: $6,754
- Payback Period: 14.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Tonawanda
Here's how much it might cost to make the switch to solar in Tonawanda.
Although the national average of solar panels is $2.66 per watt, solar panels in Tonawanda typically cost around 2.95. Since a 4.6-kW system is needed to cover the energy needs of a typical home in Tonawanda, the average price of going solar will be about $9,458 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Tonawanda can save about $13,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Tonawanda
| Year | Return on Investment |
|---|---|
| 1 years | $-8,544 |
| 3 years | $-6,727 |
| 5 years | $-4,910 |
| 7 years | $-3,093 |
| 9 years | $-1,276 |
| 11 years | $541 |
| 13 years | $2,359 |
| 15 years | $4,176 |
| 17 years | $5,993 |
| 19 years | $7,810 |
| 21 years | $9,627 |
| 23 years | $11,444 |
| 25 years | $13,261 |
Top Solar Installers in Tonawanda
When going solar, many homeowners decide to go with a solar installation company since installing solar panels yourself can be a time-consuming project. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your family.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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 Tonawanda
Factors that Affect Solar Panel Costs in Tonawanda
While the average cost of a solar system in Tonawanda is $9,458, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
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 electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,950 per kilowatt in Tonawanda. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Tonawanda, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Tonawanda to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Tonawanda is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that offer a range of services at different price points. Companies that 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 at a higher cost. It's best to do some research and choose a company that provides the products, warranties and services you want and also fits within 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 | $8,357 | 15.2 years |
| 8 kW | $3.01 | $16,850 | $11,473 | 14.9 years |
| 10 kW | $2.95 | $20,650 | $14,754 | 14.6 years |
| 12 kW | $2.89 | $24,284 | $18,201 | 14.3 years |
| 14 kW | $2.83 | $27,754 | $21,813 | 14.0 years |
| 16 kW | $2.77 | $31,058 | $25,589 | 13.7 years |
| 18 kW | $2.71 | $34,196 | $29,531 | 13.4 years |
| 20 kW | $2.66 | $37,170 | $33,639 | 13.1 years |
How to Save on Solar Panels
There are many companies available in Tonawanda, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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 opt for.
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 Tonawanda, NY Solar Cost FAQs
What is the average cost of installing solar panels in Tonawanda?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Tonawanda?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in Tonawanda?
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 higher amount 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.