Solar Panel Cost Guide in Depew, NY (2024 Update)
- Depew Solar Installation Cost: $11,696
- 25-Year Savings: $5,816
- Payback Period: 19.1 Years
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Average Cost of Solar Panels in Depew
Let’s have a look at the average cost of solar panels in Depew.
The average cost of a solar panel system in Depew is 4 per watt.The average solar panel system size in Depew is around 4.6 kilowatts, meaning a cost of about $11,696 for a solar installation, or $16,725 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of equipment you want, your solar contractor and more.With typical savings of about $13,000 on utility bills over 20 years, many homeowners in Depew find investing in solar has a decent ROI.
You can click the button below to get connected with a pre-vetted solar company in Depew for a quote for your home.
Solar savings over time in Depew
| Year | Return on Investment |
|---|---|
| 1 years | $-10,870 |
| 3 years | $-9,218 |
| 5 years | $-7,566 |
| 7 years | $-5,914 |
| 9 years | $-4,263 |
| 11 years | $-2,611 |
| 13 years | $-959 |
| 15 years | $693 |
| 17 years | $2,345 |
| 19 years | $3,997 |
| 21 years | $5,648 |
| 23 years | $7,300 |
| 25 years | $8,952 |
Top Solar Installers in Depew
Installing solar panels by yourself can be a time-consuming undertaking, which is why hiring a solar installer is a good option for many homeowners. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're searching for a solar company in Depew, we've compiled a list of our top suggestions here:
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 Depew
Factors that Affect Solar Panel Costs in Depew
For many Depew homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Depew, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,650. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Depew to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.However, the interest on solar loans also adds to your overall costs, so it’s important to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can affect the cost. Depew’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $4,070 | 19.9 years |
| 8 kW | $3.72 | $20,849 | $5,835 | 19.5 years |
| 10 kW | $3.65 | $25,550 | $7,805 | 19.1 years |
| 12 kW | $3.58 | $30,047 | $9,979 | 18.8 years |
| 14 kW | $3.50 | $34,339 | $12,358 | 18.4 years |
| 16 kW | $3.43 | $38,427 | $14,941 | 18.0 years |
| 18 kW | $3.36 | $42,311 | $17,729 | 17.6 years |
| 20 kW | $3.29 | $45,990 | $20,720 | 17.2 years |
How to Save on Solar Panels
There are numerous companies available in Depew, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected 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.
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 Depew, NY Solar Cost FAQs
How much does it cost to install solar panels in Depew?
This is a tough question to answer exactly, because the cost depends on a few different 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 extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Depew?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is going solar worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.