Solar Panel Cost Guide in Penfield, NY (2024 Update)
- Penfield Solar Installation Cost: $10,653
- 25-Year Savings: $7,749
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Penfield
We break down average solar pricing in Penfield.
The national average cost of solar panels is $2.66 per watt, but in Penfield it’s 4 per watt.Because a 4.2-kW system is needed to cover the energy needs of a typical home in Penfield, the average price of going solar will be about $10,653 after claiming the federal solar tax credit of 0.
These figures are only averages, and how much solar costs for you may vary based on factors unique to your home and what company you want to go with.For many homeowners, the upfront cost of solar panels is worth paying. On average Penfield homeowners see about $15,000 in savings on energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Penfield
| Year | Return on Investment |
|---|---|
| 1 years | $-9,760 |
| 3 years | $-7,974 |
| 5 years | $-6,189 |
| 7 years | $-4,403 |
| 9 years | $-2,617 |
| 11 years | $-831 |
| 13 years | $954 |
| 15 years | $2,740 |
| 17 years | $4,526 |
| 19 years | $6,311 |
| 21 years | $8,097 |
| 23 years | $9,883 |
| 25 years | $11,668 |
Top Solar Installers in Penfield
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar company can make swapping over to solar power much easier. Local solar companies can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
If you're looking for a solar installer in Penfield, the EcoWatch team has 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 Penfield
Factors that Affect Solar Panel Costs in Penfield
There are a number of criteria that can play into 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
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $3,650 per kilowatt in Penfield.There are several different solar panel brands and the one you choose also changes the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you just 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 a challenge. Solar loans are available from most installers in Penfield, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.Even though solar loans make adopting solar energy more accessible for Penfield homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installer you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $7,597 | 16.9 years |
| 8 kW | $3.72 | $20,849 | $10,539 | 16.6 years |
| 10 kW | $3.65 | $25,550 | $13,684 | 16.3 years |
| 12 kW | $3.58 | $30,047 | $17,034 | 16.0 years |
| 14 kW | $3.50 | $34,339 | $20,589 | 15.6 years |
| 16 kW | $3.43 | $38,427 | $24,347 | 15.3 years |
| 18 kW | $3.36 | $42,311 | $28,311 | 15.0 years |
| 20 kW | $3.29 | $45,990 | $32,478 | 14.7 years |
How to Save on Solar Panels
There are a lot of companies available in Penfield, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Warranty: If you care about the longevity of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
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 Penfield, NY Solar Cost FAQs
What is the average cost of installing solar panels in Penfield?
This is a tough question to answer precisely, because the cost depends on many 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 above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Penfield is currently $338,732, so you can look forward to a value of about $13,888 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Penfield is a rewarding investment.
How often do you have to replace solar panels?
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.