Solar Panel Cost Guide in Colonie, NY (2024 Update)

  • Colonie Solar Installation Cost: $11,379
  • 25-Year Savings: $6,870
  • Payback Period: 17.7 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Colonie

Here’s how much it might cost to go solar in Colonie.

The national average cost of solar panels is $2.66 per watt, but in Colonie it’s 4 per watt.To cover the typical energy usage of the average home in Colonie, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs about $11,379, or $16,272 before the federal solar tax credit of 0 is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what installation company you go with.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Colonie see about $14,000 in savings on electricity bills over 20 years.

You can click the button below to get connected with a pre-vetted solar installer in Colonie that can help you get a more accurate cost estimate for your home.

Solar savings over time in Colonie

Year Return on Investment
1 years $-10,478
3 years $-8,676
5 years $-6,874
7 years $-5,072
9 years $-3,270
11 years $-1,467
13 years $335
15 years $2,137
17 years $3,939
19 years $5,741
21 years $7,543
23 years $9,345
25 years $11,147

Top Solar Installers in Colonie

Installing solar panels yourself can be a time-consuming task, which is why getting a solar installation company is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you decide which one will be best for your home.

If you’d like to go solar but still aren’t certain which solar panel installer to go with, here are our recommendations for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Colonie

Factors that Affect Solar Panel Costs in Colonie

The cost of installing a solar system in Colonie can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment

The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,650. The brand and type of equipment you get for your solar system can raise or lower 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 add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Colonie homeowners choose to finance their solar panel systems to make paying for solar more affordable.Though solar loans make adopting solar energy more accessible for Colonie 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 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 installer you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Colonie are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 $5,701 18.4 years
8 kW $3.72 $20,849 $8,011 18.1 years
10 kW $3.65 $25,550 $10,524 17.7 years
12 kW $3.58 $30,047 $13,242 17.4 years
14 kW $3.50 $34,339 $16,165 17.0 years
16 kW $3.43 $38,427 $19,292 16.6 years
18 kW $3.36 $42,311 $22,623 16.3 years
20 kW $3.29 $45,990 $26,159 15.9 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
  • Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
  • Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Colonie, NY Solar Cost FAQs

What is the average cost of installing solar panels in Colonie?

This is a difficult question to answer exactly, because the cost depends on many 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 other solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, 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?

Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

How will installing solar panels impact how much my home is worth?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Colonie is currently $287,942, which means you could be looking at a value of about $11,806 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Colonie is a fruitful investment.

How many solar panels should I get to power my home?

To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.

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