Solar Panel Cost Guide in Mayfield, NY (2024 Update)
- Mayfield Solar Installation Cost: $11,407
- 25-Year Savings: $6,988
- Payback Period: 17.6 Years
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Average Cost of Solar Panels in Mayfield
Let’s take a look at the average cost of solar in Mayfield.
In Mayfield, solar panels cost about 4 per watt on average.Because a 4.5-kW system is needed to cover the energy consumption of a typical home in Mayfield, the average price of going solar will be about $11,407 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Mayfield homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a solid investment. The average homeowner in Mayfield can save around $14,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar installer in your area for a customized estimate.
Solar savings over time in Mayfield
| Year | Return on Investment |
|---|---|
| 1 years | $-10,498 |
| 3 years | $-8,681 |
| 5 years | $-6,864 |
| 7 years | $-5,047 |
| 9 years | $-3,230 |
| 11 years | $-1,412 |
| 13 years | $405 |
| 15 years | $2,222 |
| 17 years | $4,039 |
| 19 years | $5,856 |
| 21 years | $7,673 |
| 23 years | $9,490 |
| 25 years | $11,308 |
Top Solar Installers in Mayfield
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar company can make your switch to solar power much easier. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by providing warranties and repairs.
If you’d like to switch to solar energy but still aren’t certain which solar company to go with, here are our suggestions for providers 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 Mayfield
Factors that Affect Solar Panel Costs in Mayfield
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Mayfield: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Mayfield, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $3,650 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Mayfield, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can play a part in determining how much you pay. Mayfield’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger 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 | $5,838 | 18.3 years |
| 8 kW | $3.72 | $20,849 | $8,193 | 17.9 years |
| 10 kW | $3.65 | $25,550 | $10,752 | 17.6 years |
| 12 kW | $3.58 | $30,047 | $13,515 | 17.2 years |
| 14 kW | $3.50 | $34,339 | $16,483 | 16.9 years |
| 16 kW | $3.43 | $38,427 | $19,656 | 16.5 years |
| 18 kW | $3.36 | $42,311 | $23,032 | 16.2 years |
| 20 kW | $3.29 | $45,990 | $26,613 | 15.8 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Warranty: If you’re concerned about the durability of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: The kind of solar panel you want to install plays a part in which installer you should go with, since different companies have access to different panels.
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check 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 Mayfield, NY Solar Cost FAQs
How much does it cost to install solar panels in Mayfield?
This is a difficult question to answer precisely, 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Mayfield?
You can’t get solar panels for free in Mayfield. 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 having solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Mayfield is currently $253,958, so you can expect a value of about $10,412 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Mayfield is a rewarding investment.
How long do solar panels last in Mayfield?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.