Solar Panel Cost Guide in New Scotland, NY (2024 Update)
- New Scotland Solar Installation Cost: $11,379
- 25-Year Savings: $8,590
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in New Scotland
Find out what the average cost of installing solar panels is in New Scotland.
Although the national average of solar panels is $2.66 per watt, solar panels in New Scotland generally cost about 4.To account for the typical energy needs of the average home in New Scotland, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,379, or $16,272 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and how much solar costs for you will most likely vary based on your specific situation and what company you want to go with.Even with the significant upfront cost, the average New Scotland homeowner can save around $15,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free quote from a vetted solar company in New Scotland, you can click the button below.
Solar savings over time in New Scotland
| Year | Return on Investment |
|---|---|
| 1 years | $-10,337 |
| 3 years | $-8,254 |
| 5 years | $-6,171 |
| 7 years | $-4,088 |
| 9 years | $-2,005 |
| 11 years | $78 |
| 13 years | $2,161 |
| 15 years | $4,244 |
| 17 years | $6,327 |
| 19 years | $8,411 |
| 21 years | $10,494 |
| 23 years | $12,577 |
| 25 years | $14,660 |
Top Solar Installers in New Scotland
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be a lot of work. The payback period on an investment in solar panels will vary based on factors like your location and energy needs, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 New Scotland
Factors that Affect Solar Panel Costs in New Scotland
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in New Scotland: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $3,650 per kilowatt in New Scotland.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the New Scotland average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in New Scotland, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar panel installation company you pick will influence your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also fit into your budget.
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 | $8,020 | 16.6 years |
| 8 kW | $3.72 | $20,849 | $11,102 | 16.3 years |
| 10 kW | $3.65 | $25,550 | $14,388 | 16.0 years |
| 12 kW | $3.58 | $30,047 | $17,879 | 15.7 years |
| 14 kW | $3.50 | $34,339 | $21,574 | 15.4 years |
| 16 kW | $3.43 | $38,427 | $25,474 | 15.0 years |
| 18 kW | $3.36 | $42,311 | $29,578 | 14.7 years |
| 20 kW | $3.29 | $45,990 | $33,886 | 14.4 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
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 New Scotland, NY Solar Cost FAQs
What is the average cost of installing solar panels in New Scotland?
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. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in New Scotland?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can you sell solar power back to the grid in New Scotland?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can 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 get between 20 and 35 panels to cover 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.