Solar Panel Cost Guide in Village Green, NY (2023 Update)
- Village Green Solar Installation Cost: $9,565
- 25-Year Savings: $6,533
- Payback Period: 14.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Village Green
Let's have a look at the average cost of solar panels in Village Green.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Village Green, the typical cost of a solar system is 2.95 per watt. To account for the typical energy usage of the average home in Village Green, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,561, or $13,672 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy consumption and what company you go with. For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Village Green see about $13,000 in savings on electricity bills over 20 years.
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Solar savings over time in Village Green
| Year | Return on Investment |
|---|---|
| 1 years | $-8,739 |
| 3 years | $-7,087 |
| 5 years | $-5,435 |
| 7 years | $-3,784 |
| 9 years | $-2,132 |
| 11 years | $-480 |
| 13 years | $1,172 |
| 15 years | $2,824 |
| 17 years | $4,476 |
| 19 years | $6,127 |
| 21 years | $7,779 |
| 23 years | $9,431 |
| 25 years | $11,083 |
Top Solar Installers in Village Green
Trying to install solar panels on your own can be a difficult undertaking, which is why using a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be invaluable as well, particularly if you don't quite know what type of solar equipment would be right for your home.
If you're on the hunt for a solar installer in Village Green, the EcoWatch team has organized a list of our top suggestions here:
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 Village Green
Factors that Affect Solar Panel Costs in Village Green
There are a number of factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Village Green to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. However, the interest on solar loans also adds to your all-in costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can affect your pricing. Village Green's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Village Green are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $7,966 | 15.4 years |
| 8 kW | $3.01 | $16,850 | $10,952 | 15.2 years |
| 10 kW | $2.95 | $20,650 | $14,103 | 14.9 years |
| 12 kW | $2.89 | $24,284 | $17,419 | 14.6 years |
| 14 kW | $2.83 | $27,754 | $20,901 | 14.3 years |
| 16 kW | $2.77 | $31,058 | $24,548 | 14.0 years |
| 18 kW | $2.71 | $34,196 | $28,359 | 13.7 years |
| 20 kW | $2.66 | $37,170 | $32,336 | 13.4 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Solar Panel Brands: The kind of solar panel you'd like plays a role in which installer you should choose, since different companies have different panels.
- 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 give you some peace of mind.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
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 Village Green, NY Solar Cost FAQs
What is the average cost of installing solar panels in Village Green?
The average cost of solar panels in Village Green 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Village Green?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The drawback 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 maximize your savings.
Do solar panels increase how much your home is worth?
Solar panels can increase your property's 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% with a solar installation."
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.