Solar Panel Cost Guide in Solvay, NY (2024 Update)
- Solvay Solar Installation Cost: $11,835
- 25-Year Savings: $4,220
- Payback Period: 21.5 Years
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Average Cost of Solar Panels in Solvay
Let’s have a look at the average cost of solar in Solvay.
In Solvay, solar panels cost about 4 per watt on average.The average Solvay homeowner needs a 4.6-kilowatt system, which would cost about $11,835 with the federal tax credit, or $16,924 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of going solar can vary based on a few factors, such as what size system you need, your energy usage and what solar installer you go with.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $11,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a custom estimate.
Solar savings over time in Solvay
| Year | Return on Investment |
|---|---|
| 1 years | $-10,967 |
| 3 years | $-9,233 |
| 5 years | $-7,498 |
| 7 years | $-5,764 |
| 9 years | $-4,029 |
| 11 years | $-2,295 |
| 13 years | $-560 |
| 15 years | $1,174 |
| 17 years | $2,909 |
| 19 years | $4,643 |
| 21 years | $6,377 |
| 23 years | $8,112 |
| 25 years | $9,846 |
Top Solar Installers in Solvay
When making the switch to solar, many homeowners prefer to hire a solar company since installing solar panels yourself can be a challenging project. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for your family.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Solvay
Factors that Affect Solar Panel Costs in Solvay
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Solvay: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Solvay, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.The brand of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Solvay, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.Although solar loans make adopting solar energy more accessible for Solvay homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Solvay, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Solvay have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $1,913 | 22.3 years |
| 8 kW | $3.72 | $20,849 | $2,959 | 21.9 years |
| 10 kW | $3.65 | $25,550 | $4,210 | 21.5 years |
| 12 kW | $3.58 | $30,047 | $5,665 | 21.0 years |
| 14 kW | $3.50 | $34,339 | $7,325 | 20.6 years |
| 16 kW | $3.43 | $38,427 | $9,189 | 20.2 years |
| 18 kW | $3.36 | $42,311 | $11,257 | 19.7 years |
| 20 kW | $3.29 | $45,990 | $13,530 | 19.3 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 select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
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 Solvay, NY Solar Cost FAQs
How much does it cost to install solar panels in Solvay?
This is a tough question to answer exactly, 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Solvay?
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 give you credit toward your future energy bills.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.