Solar Panel Cost Guide in Wolcott, NY (2023 Update)
- Wolcott Solar Installation Cost: $8,962
- 25-Year Savings: $8,054
- Payback Period: 13.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Wolcott
Find out what the average cost of a solar system is in Wolcott.
In Wolcott, solar panels cost about 2.95 per watt on average. The average solar panel system size in Wolcott is around 4.3 kilowatts, meaning a cost of about $8,962 for a solar installation, or $12,816 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary depending on multiple factors, such as how many panels you need, your energy usage and what company you go with. With typical savings of about $15,000 on utility bills over 20 years, many homeowners in Wolcott find investing in solar has a decent ROI.
You can click the button below to get connected with a vetted solar installer in Wolcott that can help you get a more accurate cost estimate for your home.
Solar savings over time in Wolcott
| Year | Return on Investment |
|---|---|
| 1 years | $-8,281 |
| 3 years | $-6,920 |
| 5 years | $-5,559 |
| 7 years | $-4,198 |
| 9 years | $-2,836 |
| 11 years | $-1,475 |
| 13 years | $-114 |
| 15 years | $1,248 |
| 17 years | $2,609 |
| 19 years | $3,970 |
| 21 years | $5,332 |
| 23 years | $6,693 |
| 25 years | $8,054 |
Top Solar Installers in Wolcott
Many homeowners opt for a solar installer since trying to install solar panels yourself can be a labor-intensive endeavor. Plus, if you're not certain what brand of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can install solar panels for you. 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Wolcott
Factors that Affect Solar Panel Costs in Wolcott
Although the average cost of a solar system in Wolcott is $8,962, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of 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 production need 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. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Wolcott average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Wolcott, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. While solar loans make adopting solar energy more accessible for Wolcott homeowners, they can also add to 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 remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Wolcott, you'll have many options to choose from, but each comes at different price points for labor and equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that has the products, warranties and services you're looking for 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 | $10,651 | 13.7 years |
| 8 kW | $3.01 | $16,850 | $14,532 | 13.4 years |
| 10 kW | $2.95 | $20,650 | $18,578 | 13.2 years |
| 12 kW | $2.89 | $24,284 | $22,790 | 12.9 years |
| 14 kW | $2.83 | $27,754 | $27,166 | 12.6 years |
| 16 kW | $2.77 | $31,058 | $31,708 | 12.4 years |
| 18 kW | $2.71 | $34,196 | $36,415 | 12.1 years |
| 20 kW | $2.66 | $37,170 | $41,287 | 11.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project completion timeline.
- Contract: When looking over 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 the company going out of business.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar panel 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Wolcott, NY Solar Cost FAQs
How much does it cost to install solar panels in Wolcott?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Wolcott?
You can't get solar panels for free in Wolcott. 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 Wolcott have a net metering program?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Wolcott?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using 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.