Solar Panel Cost Guide in Tonawanda, NY (Mar 2023)
- Tonawanda Solar Installation Cost: $9,458
- 25-Year Savings: $6,749
- Payback Period: 14.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Tonawanda
Find out what the average cost of solar panels are in Tonawanda.
In Tonawanda, solar panels cost about 2.95 per watt on average. The average Tonawanda homeowner needs a 4.6-kilowatt system, which would cost about $9,458 with the federal tax credit, or $13,525 before the 30% tax credit is applied.
These figures are only estimates, and the cost of going solar for you will differ based on the amount of energy your home requires and what company you go with. Many homeowners find going solar is a fruitful investment. The average homeowner in Tonawanda can save about $13,000 on their power bills over 20 years.
To receive a free quote from a top solar installation company in Tonawanda, you can click the button below.
Solar savings over time in Tonawanda
| Year | Return on Investment |
|---|---|
| 1 years | $-8,809 |
| 3 years | $-7,513 |
| 5 years | $-6,216 |
| 7 years | $-4,920 |
| 9 years | $-3,623 |
| 11 years | $-2,327 |
| 13 years | $-1,030 |
| 15 years | $266 |
| 17 years | $1,563 |
| 19 years | $2,860 |
| 21 years | $4,156 |
| 23 years | $5,453 |
| 25 years | $6,749 |
Top Solar Installers in Tonawanda
Installing solar panels yourself can be a difficult project, which is why hiring a solar installer is a good option for many homeowners. Plus, if you're unsure what type of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
If you'd like to start using solar energy but still aren't sure which solar company to go with, here are our recommendations for providers nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Tonawanda
Factors that Affect Solar Panel Costs in Tonawanda
Even though the average cost of a solar system in Tonawanda is $9,458, your actual cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Tonawanda, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof 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 Tonawanda to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Tonawanda, and each can charge varying amounts for labor and equipment. The company's size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater 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 discount 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 | $3.07 | $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
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, project timeline incentives and warranties.
- Warranty: If you care about the endurance of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Tonawanda, NY Solar Cost FAQs
How much does it cost to install solar panels in Tonawanda?
The average cost of solar panels in Tonawanda 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 certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Tonawanda?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase your home value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go for 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 a solar system."
How often do you have to replace solar panels?
Even though 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 the amount of 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.