Solar Panel Cost Guide in Vails Gate, NY (2023 Update)
- Vails Gate Solar Installation Cost: $8,941
- 25-Year Savings: $13,059
- Payback Period: 10.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Vails Gate
Find out what the average cost of solar panels are in Vails Gate.
In Vails Gate, solar panels cost about 2.95 per watt on average. To account for the typical energy usage of the average home in Vails Gate, most homeowners require a 4.3-kilowatt system. Using the figure above, a solar installation costs around $8,941, or $12,786 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy consumption and what installation company you go with. Even with the significant initial cost, the average Vails Gate homeowner can save around $19,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar panel company in Vails Gate for a personalized quote.
Solar savings over time in Vails Gate
| Year | Return on Investment |
|---|---|
| 1 years | $-8,061 |
| 3 years | $-6,301 |
| 5 years | $-4,541 |
| 7 years | $-2,781 |
| 9 years | $-1,021 |
| 11 years | $739 |
| 13 years | $2,499 |
| 15 years | $4,259 |
| 17 years | $6,019 |
| 19 years | $7,779 |
| 21 years | $9,539 |
| 23 years | $11,299 |
| 25 years | $13,059 |
Top Solar Installers in Vails Gate
Trying to put up solar panels yourself can be a challenging task, which is why hiring a solar installer is a good option for many homeowners. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.
Working with a professional solar company can help your solar project go smoothly. 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 Vails Gate
Factors that Affect Solar Panel Costs in Vails Gate
Even though the average cost of a solar system in Vails Gate is $8,941, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,950. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Vails Gate, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Vails Gate, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's wise to include 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 installer you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in Vails Gate, and each can charge varying amounts for labor and equipment. 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 find a company that has the products, warranties and services you're looking for 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 | $3.07 | $12,886 | $17,615 | 10.6 years |
| 8 kW | $3.01 | $16,850 | $23,818 | 10.4 years |
| 10 kW | $2.95 | $20,650 | $30,185 | 10.2 years |
| 12 kW | $2.89 | $24,284 | $36,718 | 10.0 years |
| 14 kW | $2.83 | $27,754 | $43,416 | 9.7 years |
| 16 kW | $2.77 | $31,058 | $50,279 | 9.5 years |
| 18 kW | $2.71 | $34,196 | $57,307 | 9.3 years |
| 20 kW | $2.66 | $37,170 | $64,500 | 9.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: If you're concerned about the endurance of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Vails Gate, NY Solar Cost FAQs
How much does it cost to install solar panels in Vails Gate?
This is a tough question to answer precisely, 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Vails Gate?
Leasing solar panels can be an attractive choice, as it often 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 get the most savings.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Vails Gate is currently $259,300, so you can expect a value of about $10,631 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Vails Gate is a rewarding investment.
How long do solar panels last in Vails Gate?
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 larger level 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.