Solar Panel Cost Guide in Van Buren, NY (2023 Update)
- Van Buren Solar Installation Cost: $9,561
- 25-Year Savings: $5,937
- Payback Period: 15.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Van Buren
Find out what the average cost of solar panels are in Van Buren.
The national average cost of solar panels is $2.66 per watt, but in Van Buren it's 2.95 per watt. The average solar panel system size in Van Buren is around 4.6 kilowatts, meaning a cost of about $9,561 for a solar installation, or $13,672 before the 30% federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you will differ based on your energy needs and what company you go with. For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $13,000 in savings on electricity 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 Van Buren
| Year | Return on Investment |
|---|---|
| 1 years | $-8,941 |
| 3 years | $-7,701 |
| 5 years | $-6,461 |
| 7 years | $-5,221 |
| 9 years | $-3,982 |
| 11 years | $-2,742 |
| 13 years | $-1,502 |
| 15 years | $-262 |
| 17 years | $978 |
| 19 years | $2,218 |
| 21 years | $3,458 |
| 23 years | $4,697 |
| 25 years | $5,937 |
Top Solar Installers in Van Buren
When switching to solar energy, many homeowners opt to use a solar installation company since handling can be a difficult project. The expertise that solar installers offer can be valuable as well, particularly if you don't quite know what kind of solar equipment you need.
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 Van Buren
Factors that Affect Solar Panel Costs in Van Buren
There are a number of criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The brand of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Van Buren have solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also increases your overall costs, so it's vital to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Van Buren is the company you get to install your PV system. Similar to choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services for different budgets. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $7,190 | 16.0 years |
| 8 kW | $3.01 | $16,850 | $9,917 | 15.7 years |
| 10 kW | $2.95 | $20,650 | $12,809 | 15.4 years |
| 12 kW | $2.89 | $24,284 | $15,867 | 15.1 years |
| 14 kW | $2.83 | $27,754 | $19,089 | 14.8 years |
| 16 kW | $2.77 | $31,058 | $22,477 | 14.5 years |
| 18 kW | $2.71 | $34,196 | $26,030 | 14.2 years |
| 20 kW | $2.66 | $37,170 | $29,748 | 13.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and 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.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
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 Van Buren, NY Solar Cost FAQs
How much does it cost to install solar panels in Van Buren?
The average cost of solar panels in Van Buren is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Van Buren?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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 bang for your buck from going solar.
How will having solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Van Buren is currently $153,998, which means you can look forward to a value of about $6,314 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Van Buren is a fruitful investment.
How long do solar panels last in Van Buren?
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 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.