Solar Panel Cost Guide in Waverly, NY (2023 Update)
- Waverly Solar Installation Cost: $9,540
- 25-Year Savings: $4,229
- Payback Period: 17.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Waverly
Find out how much it might cost to switch to solar power in Waverly.
While the national average of solar panels is $2.66 per watt, solar panels in Waverly generally cost about 2.95. Because a 4.6-kW system is needed to cover the energy needs of a typical home in Waverly, the average price of going solar will be about $9,540 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Waverly homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $11,000 on power bills over 20 years, many homeowners in Waverly find going solar can be quite rewarding.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Waverly
| Year | Return on Investment |
|---|---|
| 1 years | $-8,990 |
| 3 years | $-7,888 |
| 5 years | $-6,786 |
| 7 years | $-5,685 |
| 9 years | $-4,583 |
| 11 years | $-3,482 |
| 13 years | $-2,380 |
| 15 years | $-1,279 |
| 17 years | $-177 |
| 19 years | $924 |
| 21 years | $2,026 |
| 23 years | $3,127 |
| 25 years | $4,229 |
Top Solar Installers in Waverly
Putting up solar panels on your own can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be best for your home.
There are various licensed solar professionals that can take care of your solar installation project. 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 Waverly
Factors that Affect Solar Panel Costs in Waverly
The cost of installing a solar system in Waverly can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need for your home, 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 about $2,950. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Waverly average.
Solar Financing Terms
Most solar installers in Waverly have solar loans, which reduce your upfront costs of installing solar. Though solar loans make adopting solar energy more accessible for Waverly homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in Waverly, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that has the products, warranties and services you want and also fits within your budget.
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 | $4,990 | 18.0 years |
| 8 kW | $3.01 | $16,850 | $6,983 | 17.7 years |
| 10 kW | $2.95 | $20,650 | $9,142 | 17.3 years |
| 12 kW | $2.89 | $24,284 | $11,466 | 17.0 years |
| 14 kW | $2.83 | $27,754 | $13,955 | 16.6 years |
| 16 kW | $2.77 | $31,058 | $16,610 | 16.3 years |
| 18 kW | $2.71 | $34,196 | $19,429 | 15.9 years |
| 20 kW | $2.66 | $37,170 | $22,414 | 15.6 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose significantly 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:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you want a specific brand, make sure the solar panel company 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
EcoWatch's Waverly, NY Solar Cost FAQs
How much does it cost to install solar panels in Waverly?
The average cost of solar panels in Waverly 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 stuff like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Waverly?
You can't get solar panels for free in Waverly. 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'd rather own your solar panels, you can finance them with a solar loan.
Does Waverly have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.