Solar Panel Cost Guide in Wolcott, NY (2024 Update)
- Wolcott Solar Installation Cost: $11,083
- 25-Year Savings: $8,059
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Wolcott
Find out what the average cost of a solar system is in Wolcott.
In Wolcott, solar panels cost about 4 per watt on average.The average Wolcott homeowner needs a 4.3-kilowatt system, which would cost about $11,083 with the federal tax credit, or $15,849 before the 0 tax credit is applied.
How much you pay can go higher or lower than the average in Wolcott depending on several factors, such as the type of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Wolcott see about $15,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Wolcott
| Year | Return on Investment |
|---|---|
| 1 years | $-10,176 |
| 3 years | $-8,362 |
| 5 years | $-6,549 |
| 7 years | $-4,735 |
| 9 years | $-2,922 |
| 11 years | $-1,108 |
| 13 years | $706 |
| 15 years | $2,519 |
| 17 years | $4,333 |
| 19 years | $6,146 |
| 21 years | $7,960 |
| 23 years | $9,774 |
| 25 years | $11,587 |
Top Solar Installers in Wolcott
Although it's possible to install solar panels yourself, it involves extra labor and handiness. Because of that, most people choose to go with a solar panel installer. The expertise that solar companies provide can be helpful as well, especially if you aren’t sure what kind of solar equipment would be right for your home.
You can get a free quote from a local solar installer on how much solar panels could cost 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 Wolcott
Factors that Affect Solar Panel Costs in Wolcott
There are several factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation 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.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Wolcott, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Wolcott have solar loans, which reduce your upfront costs of installing a solar system.However, the interest on solar loans also increases your total costs, so it’s important to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Wolcott, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $7,594 | 16.9 years |
| 8 kW | $3.72 | $20,849 | $10,534 | 16.6 years |
| 10 kW | $3.65 | $25,550 | $13,678 | 16.3 years |
| 12 kW | $3.58 | $30,047 | $17,027 | 16.0 years |
| 14 kW | $3.50 | $34,339 | $20,581 | 15.6 years |
| 16 kW | $3.43 | $38,427 | $24,338 | 15.3 years |
| 18 kW | $3.36 | $42,311 | $28,300 | 15.0 years |
| 20 kW | $3.29 | $45,990 | $32,467 | 14.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Installation Process: When making the switch to solar power, it’s important to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
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 Wolcott, NY Solar Cost FAQs
How much does it cost to install solar panels in Wolcott?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally 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 extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Wolcott, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.