Solar Panel Cost Guide in Vestal, NY (2023 Update)
- Vestal Solar Installation Cost: $9,582
- 25-Year Savings: $4,703
- Payback Period: 16.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Vestal
Let's take a look at the average cost of solar in Vestal.
The average cost of a solar panel system in Vestal is 2.95 per watt. Since a 4.6-kW system is needed to cover the energy usage of a typical home in Vestal, the average price of going solar will be about $9,582 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar system you want to get, your solar contractor and more. For most homeowners, the upfront investment in solar is worth paying. On average Vestal homeowners see about $12,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Vestal that can help you get a more accurate cost estimate for your home.
Solar savings over time in Vestal
| Year | Return on Investment |
|---|---|
| 1 years | $-9,010 |
| 3 years | $-7,867 |
| 5 years | $-6,725 |
| 7 years | $-5,582 |
| 9 years | $-4,439 |
| 11 years | $-3,296 |
| 13 years | $-2,154 |
| 15 years | $-1,011 |
| 17 years | $132 |
| 19 years | $1,275 |
| 21 years | $2,417 |
| 23 years | $3,560 |
| 25 years | $4,703 |
Top Solar Installers in Vestal
When switching to solar energy, many homeowners opt to hire a solar installation company since putting up a solar system yourself can be a challenging project. Also, if you'd like to maximize your investment in solar, going with a solar installer can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
Working with a professional solar installer 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 Vestal
Factors that Affect Solar Panel Costs in Vestal
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Vestal: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,950. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Vestal, where sunlight isn't as abundant, efficiency can quickly pay off. Also, 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
Most solar companies in Vestal offer solar loans, which reduce your upfront costs of installing solar. When considering 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 remaining major cost factor you should take into consideration is the installer you choose. Given the growing popularity of sustainable energy solutions in Vestal, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. 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 promotions 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 | $5,582 | 17.4 years |
| 8 kW | $3.01 | $16,850 | $7,773 | 17.1 years |
| 10 kW | $2.95 | $20,650 | $10,130 | 16.8 years |
| 12 kW | $2.89 | $24,284 | $12,651 | 16.4 years |
| 14 kW | $2.83 | $27,754 | $15,338 | 16.1 years |
| 16 kW | $2.77 | $31,058 | $18,190 | 15.8 years |
| 18 kW | $2.71 | $34,196 | $21,207 | 15.4 years |
| 20 kW | $2.66 | $37,170 | $24,389 | 15.1 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 brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
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 Vestal, NY Solar Cost FAQs
What is the average cost of installing solar panels in Vestal?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Vestal?
You can't get solar panels for free in Vestal. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't opt 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 solar panels."
How long do solar panels last in Vestal?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to 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.