Solar Panel Cost Guide in Wales, NY (2023 Update)
- Wales Solar Installation Cost: $9,458
- 25-Year Savings: $5,342
- Payback Period: 16.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Wales
We break down average solar pricing in Wales.
The average cost of a solar system in Wales is 2.95 per watt. Using this figure, a typical 4.6-kW system would cost about $9,458 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Wales based on several factors, such as the model of solar panels you choose and the solar installer you hire. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $12,000 in savings on utility bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in Wales for a custom quote.
Solar savings over time in Wales
| Year | Return on Investment |
|---|---|
| 1 years | $-8,866 |
| 3 years | $-7,682 |
| 5 years | $-6,498 |
| 7 years | $-5,314 |
| 9 years | $-4,130 |
| 11 years | $-2,946 |
| 13 years | $-1,762 |
| 15 years | $-578 |
| 17 years | $606 |
| 19 years | $1,790 |
| 21 years | $2,974 |
| 23 years | $4,158 |
| 25 years | $5,342 |
Top Solar Installers in Wales
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar company can make your switch to solar power much easier. A solar installer can also help save you money over time by offering warranties, repairs and component replacements.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Wales
Factors that Affect Solar Panel Costs in Wales
Though the average cost of a solar system in Wales is $9,458, your actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,950. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Wales to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. You'll have to consider the long-term cost of financing options, including the amount of 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 APR could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Wales know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $6,513 | 16.6 years |
| 8 kW | $3.01 | $16,850 | $9,014 | 16.3 years |
| 10 kW | $2.95 | $20,650 | $11,681 | 16.0 years |
| 12 kW | $2.89 | $24,284 | $14,512 | 15.6 years |
| 14 kW | $2.83 | $27,754 | $17,509 | 15.3 years |
| 16 kW | $2.77 | $31,058 | $20,671 | 15.0 years |
| 18 kW | $2.71 | $34,196 | $23,999 | 14.7 years |
| 20 kW | $2.66 | $37,170 | $27,491 | 14.4 years |
How to Save on Solar Panels
There are many 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:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: Before you sign a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
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 Wales, NY Solar Cost FAQs
What is the average cost of installing solar panels in Wales?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Wales?
Leasing solar panels can be an appealing choice, because it usually 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 maximize your savings.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
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 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.