Solar Panel Cost Guide in Wellsville, NY (2023 Update)
- Wellsville Solar Installation Cost: $9,540
- 25-Year Savings: $6,147
- Payback Period: 15.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Wellsville
Find out how much it might cost to install solar panels in Wellsville.
The average cost of a solar system in Wellsville is 2.95 per watt. To account for the typical energy needs of the average home in Wellsville, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs around $9,540, or $13,642 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and how much solar costs for you may differ based on your specific situation and what company you go with. Even with the high initial cost, the average Wellsville homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a top solar installer in your area for a custom estimate.
Solar savings over time in Wellsville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,913 |
| 3 years | $-7,658 |
| 5 years | $-6,403 |
| 7 years | $-5,148 |
| 9 years | $-3,893 |
| 11 years | $-2,638 |
| 13 years | $-1,383 |
| 15 years | $-128 |
| 17 years | $1,127 |
| 19 years | $2,382 |
| 21 years | $3,637 |
| 23 years | $4,892 |
| 25 years | $6,147 |
Top Solar Installers in Wellsville
Many homeowners opt for a solar installation company since trying to put up solar panels yourself can be challenging. Another perk of utilizing a solar installer is that they can help you maximize your return of investment by cutting back on future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
If you'd like to switch to solar energy but still aren't sure which solar panel installer to go with, here are our suggestions for providers near you:
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 Wellsville
Factors that Affect Solar Panel Costs in Wellsville
For many Wellsville homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Wellsville, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,950. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Wellsville, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Wellsville provide solar loans, which reduce the initial cost of installing solar. However, the interest on solar loans also increases your total costs, so it's crucial to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can impact how much it costs. Wellsville's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have 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 promotion 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 | $7,487 | 15.8 years |
| 8 kW | $3.01 | $16,850 | $10,313 | 15.5 years |
| 10 kW | $2.95 | $20,650 | $13,304 | 15.2 years |
| 12 kW | $2.89 | $24,284 | $16,461 | 14.9 years |
| 14 kW | $2.83 | $27,754 | $19,782 | 14.6 years |
| 16 kW | $2.77 | $31,058 | $23,269 | 14.3 years |
| 18 kW | $2.71 | $34,196 | $26,921 | 14.0 years |
| 20 kW | $2.66 | $37,170 | $30,738 | 13.7 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project completion timeline incentives and warranties.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two 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 positive reviews from previous customers.
- Warranty: If you're concerned about the durability of your solar system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Different companies have various brands and types of panels. If you prefer a specific brand, make sure the solar 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
EcoWatch's Wellsville, NY Solar Cost FAQs
How much does it cost to install solar panels in Wellsville?
The average cost of solar panels in Wellsville 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 model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase your property value?
Solar panels can increase your property's value significantly 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?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much 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.