Solar Panel Cost Guide in Ellicott, NY (2024 Update)
- Ellicott Solar Installation Cost: $11,849
- 25-Year Savings: $5,401
- Payback Period: 19.8 Years
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Average Cost of Solar Panels in Ellicott
Find out what the average cost of solar panels are in Ellicott.
The average cost of a solar panel system in Ellicott is 4 per watt.Using this figure, a typical 4.6-kW system would cost about $11,849 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Ellicott homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Ellicott can save about $12,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Ellicott that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ellicott
| Year | Return on Investment |
|---|---|
| 1 years | $-10,968 |
| 3 years | $-9,206 |
| 5 years | $-7,444 |
| 7 years | $-5,682 |
| 9 years | $-3,920 |
| 11 years | $-2,158 |
| 13 years | $-396 |
| 15 years | $1,366 |
| 17 years | $3,128 |
| 19 years | $4,890 |
| 21 years | $6,652 |
| 23 years | $8,415 |
| 25 years | $10,177 |
Top Solar Installers in Ellicott
When going solar, many homeowners choose to hire a solar installer since handling can be a challenging project. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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 Ellicott
Factors that Affect Solar Panel Costs in Ellicott
There are several criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of solar panels in Ellicott, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Ellicott, 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
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Ellicott homeowners decide to finance their solar panel systems to make going solar more affordable.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Ellicott, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater 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 lower to compete with bigger names.
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 | $3,434 | 20.6 years |
| 8 kW | $3.72 | $20,849 | $4,988 | 20.2 years |
| 10 kW | $3.65 | $25,550 | $6,745 | 19.8 years |
| 12 kW | $3.58 | $30,047 | $8,708 | 19.4 years |
| 14 kW | $3.50 | $34,339 | $10,874 | 19.0 years |
| 16 kW | $3.43 | $38,427 | $13,245 | 18.6 years |
| 18 kW | $3.36 | $42,311 | $15,821 | 18.2 years |
| 20 kW | $3.29 | $45,990 | $18,601 | 17.8 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- 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 large role in the company you opt for.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign a contract with a solar installer, make sure you 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
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 Ellicott, NY Solar Cost FAQs
How much does it cost to install solar panels in Ellicott?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more 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 opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Ellicott?
Leasing solar panels can be an appealing choice, as it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
How much can I save on power bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Ellicott, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Ellicott?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.