Solar Panel Cost Guide in Floyd, NY (2024 Update)
- Floyd Solar Installation Cost: $11,803
- 25-Year Savings: $6,667
- Payback Period: 18.2 Years
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Average Cost of Solar Panels in Floyd
We break down average solar pricing in Floyd.
Although the national average of solar panels is $2.66 per watt, solar panels in Floyd typically cost around 4.The average solar panel system size in Floyd is around 4.6 kilowatts, meaning a cost of about $11,803 for a solar installation, or $16,878 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Floyd homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a fruitful investment. The average homeowner in Floyd can save about $13,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Floyd for a quote for your home.
Solar savings over time in Floyd
| Year | Return on Investment |
|---|---|
| 1 years | $-10,895 |
| 3 years | $-9,078 |
| 5 years | $-7,261 |
| 7 years | $-5,443 |
| 9 years | $-3,626 |
| 11 years | $-1,809 |
| 13 years | $8 |
| 15 years | $1,825 |
| 17 years | $3,642 |
| 19 years | $5,459 |
| 21 years | $7,277 |
| 23 years | $9,094 |
| 25 years | $10,911 |
Top Solar Installers in Floyd
Although you can install solar panels by yourself, it takes extra labor and handiness. For that reason, the majority of homeowners choose to go with a solar panel installer. Plus, if you’re not certain what kind of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar installer in Floyd, we've organized 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 Floyd
Factors that Affect Solar Panel Costs in Floyd
The cost of installing a solar system in Floyd can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Floyd, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $3,650 for each additional kilowatt you need.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 have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Floyd provide solar loans, which reduce the initial cost of installing a solar system.It’s a good idea to include 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 off the loan.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can play a role in determining the cost. Floyd’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Floyd know more about local solar incentives and can help you make good use 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 | $5,106 | 18.9 years |
| 8 kW | $3.72 | $20,849 | $7,217 | 18.6 years |
| 10 kW | $3.65 | $25,550 | $9,532 | 18.2 years |
| 12 kW | $3.58 | $30,047 | $12,051 | 17.8 years |
| 14 kW | $3.50 | $34,339 | $14,775 | 17.5 years |
| 16 kW | $3.43 | $38,427 | $17,704 | 17.1 years |
| 18 kW | $3.36 | $42,311 | $20,836 | 16.8 years |
| 20 kW | $3.29 | $45,990 | $24,174 | 16.4 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 models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
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 Floyd, NY Solar Cost FAQs
How much does it cost to install solar panels in Floyd?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Floyd?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How long do solar panels last in Floyd?
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.