Solar Panel Cost Guide in Veteran, NY (Mar 2023)
- Veteran Solar Installation Cost: $9,520
- 25-Year Savings: $5,740
- Payback Period: 15.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Veteran
Let's have a look at the average cost of solar panels in Veteran.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Veteran, the typical cost of solar panels is 2.95 per watt. To account for the typical energy usage of the average home in Veteran, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs around $9,520, or $13,614 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $13,000 over 20 years on utility bills.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Veteran
| Year | Return on Investment |
|---|---|
| 1 years | $-8,909 |
| 3 years | $-7,688 |
| 5 years | $-6,468 |
| 7 years | $-5,247 |
| 9 years | $-4,026 |
| 11 years | $-2,805 |
| 13 years | $-1,585 |
| 15 years | $-364 |
| 17 years | $857 |
| 19 years | $2,078 |
| 21 years | $3,299 |
| 23 years | $4,519 |
| 25 years | $5,740 |
Top Solar Installers in Veteran
Trying to install solar panels yourself can be a dangerous project, which is why using a solar installer is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a vetted solar installer 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Veteran
Factors that Affect Solar Panel Costs in Veteran
While the average cost of a solar system in Veteran is $9,520, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,950 per kilowatt in Veteran. The kind 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. However, more efficient panels could save you more in the long run on your electric bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Veteran average.
Solar Financing Terms
Most solar companies in Veteran offer solar loans, which reduce the initial cost of installing solar. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the growing popularity of renewable energy solutions in Veteran, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $6,979 | 16.2 years |
| 8 kW | $3.01 | $16,850 | $9,636 | 15.9 years |
| 10 kW | $2.95 | $20,650 | $12,458 | 15.6 years |
| 12 kW | $2.89 | $24,284 | $15,445 | 15.3 years |
| 14 kW | $2.83 | $27,754 | $18,597 | 15.0 years |
| 16 kW | $2.77 | $31,058 | $21,915 | 14.7 years |
| 18 kW | $2.71 | $34,196 | $25,397 | 14.3 years |
| 20 kW | $2.66 | $37,170 | $29,045 | 14.0 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. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Veteran, NY Solar Cost FAQs
What is the average cost of installing solar panels in Veteran?
The average cost of solar panels in Veteran 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 things such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Veteran?
Leasing solar panels can be an attractive 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $662.15 per year.
How long do solar panels last in Veteran?
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 the amount of energy they produce 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.