Solar Panel Cost Guide in Troy, NY (2024 Update)
- Troy Solar Installation Cost: $11,657
- 25-Year Savings: $6,504
- Payback Period: 18.3 Years
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Average Cost of Solar Panels in Troy
We go over average solar pricing in Troy.
In Troy, solar panels cost about 4 per watt on average.The average solar panel system size in Troy is around 4.6 kilowatts, meaning a cost of about $11,657 for a solar installation, or $16,670 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of equipment you want to get, your solar contractor and more.Despite the significant initial cost, the average Troy homeowner can save around $13,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a vetted solar company in Troy for a quote for your home.
Solar savings over time in Troy
| Year | Return on Investment |
|---|---|
| 1 years | $-10,765 |
| 3 years | $-8,981 |
| 5 years | $-7,196 |
| 7 years | $-5,412 |
| 9 years | $-3,628 |
| 11 years | $-1,844 |
| 13 years | $-60 |
| 15 years | $1,724 |
| 17 years | $3,508 |
| 19 years | $5,292 |
| 21 years | $7,076 |
| 23 years | $8,860 |
| 25 years | $10,644 |
Top Solar Installers in Troy
Although you can install solar panels on your own, it requires extra time and knowledge. Because of that, most people choose to hire a solar panel installer. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're searching for a solar company in Troy, we've organized 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 Troy
Factors that Affect Solar Panel Costs in Troy
The cost of installing a solar system in Troy can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,650. There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Troy have solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also increases your total costs, so it’s crucial to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Troy is the company you get to install your PV 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.Some companies 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 with an above-average cost. It’s best to do some research and go with the company that offers the products, warranties and services you want and also fit into 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 | $3.80 | $15,943 | $5,001 | 19.0 years |
| 8 kW | $3.72 | $20,849 | $7,077 | 18.7 years |
| 10 kW | $3.65 | $25,550 | $9,357 | 18.3 years |
| 12 kW | $3.58 | $30,047 | $11,841 | 17.9 years |
| 14 kW | $3.50 | $34,339 | $14,530 | 17.6 years |
| 16 kW | $3.43 | $38,427 | $17,424 | 17.2 years |
| 18 kW | $3.36 | $42,311 | $20,522 | 16.8 years |
| 20 kW | $3.29 | $45,990 | $23,824 | 16.5 years |
How to Save on Solar Panels
There are numerous companies available in Troy, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: If you care about the endurance of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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 Troy, NY Solar Cost FAQs
What is the average cost of installing solar panels in Troy?
This is a tough question to answer exactly, because the cost depends on a variety of 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Troy?
Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.