Solar Panel Cost Guide in Cohoes, NY (2024 Update)
- Cohoes Solar Installation Cost: $11,379
- 25-Year Savings: $7,010
- Payback Period: 17.6 Years
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Average Cost of Solar Panels in Cohoes
We break down average solar pricing in Cohoes.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cohoes, the average cost of a solar system is 4 per watt.The average solar panel system size in Cohoes is around 4.5 kilowatts, meaning a cost of about $11,379 for a solar installation, or $16,272 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy usage and what company you go with.Even with the large upfront cost, the average Cohoes homeowner can save around $14,000 on their power bills over 20 years, which is one of the positives of solar.
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 Cohoes
| Year | Return on Investment |
|---|---|
| 1 years | $-10,470 |
| 3 years | $-8,653 |
| 5 years | $-6,836 |
| 7 years | $-5,019 |
| 9 years | $-3,202 |
| 11 years | $-1,385 |
| 13 years | $432 |
| 15 years | $2,250 |
| 17 years | $4,067 |
| 19 years | $5,884 |
| 21 years | $7,701 |
| 23 years | $9,518 |
| 25 years | $11,335 |
Top Solar Installers in Cohoes
Although it's possible to install solar panels by yourself, it requires extra time and knowledge. For that reason, the majority of homeowners choose to hire a solar panel installer. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor as well, which can save you more money over time.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Cohoes
Factors that Affect Solar Panel Costs in Cohoes
The cost of installing a solar system in Cohoes can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid choice because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your total costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Cohoes, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Cohoes have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $5,891 | 18.3 years |
| 8 kW | $3.72 | $20,849 | $8,263 | 17.9 years |
| 10 kW | $3.65 | $25,550 | $10,840 | 17.6 years |
| 12 kW | $3.58 | $30,047 | $13,621 | 17.2 years |
| 14 kW | $3.50 | $34,339 | $16,607 | 16.9 years |
| 16 kW | $3.43 | $38,427 | $19,797 | 16.5 years |
| 18 kW | $3.36 | $42,311 | $23,192 | 16.1 years |
| 20 kW | $3.29 | $45,990 | $26,790 | 15.8 years |
How to Save on Solar Panels
There are a lot of companies available in Cohoes, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Warranty: If you’re concerned about the longevity of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Cohoes, NY Solar Cost FAQs
How much does it cost to install solar panels in Cohoes?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Cohoes?
You can’t get solar panels for free in Cohoes. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
How will solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Cohoes is currently $287,628, which means you can look forward to a value of about $11,793 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Cohoes is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a 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 install between 20 and 35 panels to account for 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.