Solar Panel Cost Guide in University at Buffalo, NY (2023 Update)
- University at Buffalo Solar Installation Cost: $9,453
- 25-Year Savings: $6,285
- Payback Period: 15.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in University at Buffalo
We go over average solar pricing in University at Buffalo.
Although the national average of solar panels is $2.66 per watt, solar panels in University at Buffalo typically cost around 2.95. The average solar panel system size in University at Buffalo is around 4.6 kilowatts, meaning a cost of about $9,458 for a solar installation, or $13,525 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in University at Buffalo depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront cost of solar is worth paying. On average University at Buffalo homeowners see about $13,000 in savings on energy bills over 20 years.
To get a free quote from a top solar installation company in University at Buffalo, you can click the button below.
Solar savings over time in University at Buffalo
| Year | Return on Investment |
|---|---|
| 1 years | $-8,572 |
| 3 years | $-6,810 |
| 5 years | $-5,048 |
| 7 years | $-3,286 |
| 9 years | $-1,524 |
| 11 years | $238 |
| 13 years | $2,000 |
| 15 years | $3,762 |
| 17 years | $5,525 |
| 19 years | $7,287 |
| 21 years | $9,049 |
| 23 years | $10,811 |
| 25 years | $12,573 |
Top Solar Installers in University at Buffalo
When making the switch to solar, many homeowners choose to use a solar installation company since handling can be a challenging project. Companies can also have access to a large variety of the best solar panels and help you choose which one will be best for your home.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 University at Buffalo
Factors that Affect Solar Panel Costs in University at Buffalo
The cost of installing a solar system in University at Buffalo can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
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 spend around $2,950 per kilowatt in University at Buffalo. 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, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the University at Buffalo average.
Solar Financing Terms
Many homeowners find the average cost of solar in University at Buffalo to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time due to interest. However, the interest on solar loans also increases your all-in costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
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 University at Buffalo is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that provide a range of services for different budgets. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $7,742 | 15.6 years |
| 8 kW | $3.01 | $16,850 | $10,653 | 15.3 years |
| 10 kW | $2.95 | $20,650 | $13,730 | 15.0 years |
| 12 kW | $2.89 | $24,284 | $16,971 | 14.7 years |
| 14 kW | $2.83 | $27,754 | $20,378 | 14.4 years |
| 16 kW | $2.77 | $31,058 | $23,950 | 14.1 years |
| 18 kW | $2.71 | $34,196 | $27,687 | 13.8 years |
| 20 kW | $2.66 | $37,170 | $31,590 | 13.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Installation Process: When going solar, it's important to maintain an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the completion timeline.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The brand of solar panel you'd like to get plays a role in which company you should go with, since different companies offer different panels.
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 University at Buffalo, NY Solar Cost FAQs
How much does it cost to install solar panels in University at Buffalo?
The average cost of solar panels in University at Buffalo 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 use.
Is it better to lease or buy solar panels in University at Buffalo?
Leasing solar panels can be an appealing choice, because it typically 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 option if you want to get the most savings.
Can you sell solar power back to the grid in University at Buffalo?
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 give you credit toward your future utility bills.
How long do solar panels last in University at Buffalo?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having 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.