Solar Panel Cost Guide in Ridgeway, NY (2024 Update)
- Ridgeway Solar Installation Cost: $10,538
- 25-Year Savings: $7,690
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Ridgeway
Find out what the average cost of a solar system is in Ridgeway.
The average cost of a solar system in Ridgeway is 4 per watt.Since a 4.1-kW system is needed to cover the energy consumption of a typical home in Ridgeway, the average price of going solar will be about $10,538 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Ridgeway homeowners. 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 going solar is a solid investment. The average homeowner in Ridgeway can save around $15,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Ridgeway that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ridgeway
| Year | Return on Investment |
|---|---|
| 1 years | $-9,630 |
| 3 years | $-7,813 |
| 5 years | $-5,996 |
| 7 years | $-4,178 |
| 9 years | $-2,361 |
| 11 years | $-544 |
| 13 years | $1,273 |
| 15 years | $3,090 |
| 17 years | $4,907 |
| 19 years | $6,725 |
| 21 years | $8,542 |
| 23 years | $10,359 |
| 25 years | $12,176 |
Top Solar Installers in Ridgeway
Although you can install solar panels yourself, it requires extra effort and expertise. For that reason, almost all homeowners choose a solar panel installer. The payback period of solar panels will vary depending on factors like your location and energy usage, but going with a solar company can shorten that period. Your provider will be able to help you identify incentives available in your area.
If you're on the hunt for a solar installer in Ridgeway, the EcoWatch team has 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 Ridgeway
Factors that Affect Solar Panel Costs in Ridgeway
The cost of installing a solar system in Ridgeway can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Ridgeway, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can affect how much it costs. Ridgeway’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that provides the products, warranties and services you want and also is within 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 | $7,633 | 16.9 years |
| 8 kW | $3.72 | $20,849 | $10,586 | 16.6 years |
| 10 kW | $3.65 | $25,550 | $13,743 | 16.3 years |
| 12 kW | $3.58 | $30,047 | $17,105 | 15.9 years |
| 14 kW | $3.50 | $34,339 | $20,671 | 15.6 years |
| 16 kW | $3.43 | $38,427 | $24,442 | 15.3 years |
| 18 kW | $3.36 | $42,311 | $28,417 | 15.0 years |
| 20 kW | $3.29 | $45,990 | $32,596 | 14.6 years |
How to Save on Solar Panels
There are numerous companies available in Ridgeway, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Get detailed information 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: An all-inclusive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
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 Ridgeway, NY Solar Cost FAQs
How much does it cost to install solar panels in Ridgeway?
The average cost of solar panels in Ridgeway is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Ridgeway?
You can’t get solar panels for free in Ridgeway. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $785.86 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.