Solar Panel Cost Guide in Wolcott, NY (2023 Update)
- Wolcott Solar Installation Cost: $11,083
- 25-Year Savings: $8,059
- Payback Period: 16.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated October 25, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Wolcott
Find out how much it might cost to go solar in Wolcott.
The national average cost of solar panels is $2.66 per watt, but in Wolcott it's 2.95 per watt.To cover the typical energy needs of the average home in Wolcott, most homeowners require a 4.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $8,962, or $12,816 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 solar panels. The true cost of making the switch to solar can vary quite a bit based on several factors, such as what size system you need, your energy usage and what installation company you go with.For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Wolcott see about $15,000 in savings on electricity bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Wolcott
| Year | Return on Investment |
|---|---|
| 1 years | $-10,176 |
| 3 years | $-8,362 |
| 5 years | $-6,549 |
| 7 years | $-4,735 |
| 9 years | $-2,922 |
| 11 years | $-1,108 |
| 13 years | $706 |
| 15 years | $2,519 |
| 17 years | $4,333 |
| 19 years | $6,146 |
| 21 years | $7,960 |
| 23 years | $9,774 |
| 25 years | $11,587 |
Top Solar Installers in Wolcott
Installing solar panels by yourself can be a time-consuming task, which is why using a solar installation company 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 due to their warranties, repair services and expert design.
If you'd like to switch to solar energy but still aren't certain which solar company to go with, here are our recommendations 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 Wolcott
Factors that Affect Solar Panel Costs in Wolcott
For many Wolcott homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Wolcott, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy 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 pay around $2,950 per kilowatt in Wolcott.There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, 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 far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Wolcott have solar loans, which reduce the initial cost of installing a solar system.While solar loans make switching to solar energy more accessible for Wolcott homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installation company you choose will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Wolcott have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $3.80 | $15,943 | $7,594 | 16.9 years |
| 8 kW | $3.72 | $20,849 | $10,534 | 16.6 years |
| 10 kW | $3.65 | $25,550 | $13,678 | 16.3 years |
| 12 kW | $3.58 | $30,047 | $17,027 | 16.0 years |
| 14 kW | $3.50 | $34,339 | $20,581 | 15.6 years |
| 16 kW | $3.43 | $38,427 | $24,338 | 15.3 years |
| 18 kW | $3.36 | $42,311 | $28,300 | 15.0 years |
| 20 kW | $3.29 | $45,990 | $32,467 | 14.7 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 pick the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Wolcott, NY Solar Cost FAQs
What is the average cost of installing solar panels in Wolcott?
The average cost of solar panels in Wolcott 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Wolcott?
Solar panels aren't free in Wolcott, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is switching to solar power worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.