Solar Panel Cost Guide in Corinth, NY (2024 Update)
- Corinth Solar Installation Cost: $11,457
- 25-Year Savings: $6,948
- Payback Period: 17.7 Years
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Average Cost of Solar Panels in Corinth
See how much it might cost to switch to solar power in Corinth.
In Corinth, solar panels cost about 4 per watt on average.Using this figure, a typical 4.5-kW system would cost about $11,457 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely look different based on the amount of energy your home requires and what company you want to go with.Despite the high upfront cost, the average Corinth homeowner can save about $14,000 on their energy bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Corinth
| Year | Return on Investment |
|---|---|
| 1 years | $-10,548 |
| 3 years | $-8,731 |
| 5 years | $-6,914 |
| 7 years | $-5,097 |
| 9 years | $-3,279 |
| 11 years | $-1,462 |
| 13 years | $355 |
| 15 years | $2,172 |
| 17 years | $3,989 |
| 19 years | $5,806 |
| 21 years | $7,623 |
| 23 years | $9,441 |
| 25 years | $11,258 |
Top Solar Installers in Corinth
Trying to install solar panels by yourself can be a difficult task, which is why using a solar installation company is a good option for many homeowners. The payback period on a solar system will vary depending on factors like your roof configuration and energy needs, but going with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Corinth
Factors that Affect Solar Panel Costs in Corinth
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Corinth: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,650. The type of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, 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 think 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 searching for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Corinth to be too steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Corinth is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for instance, you’ll have many options for solar installers that provide a range of services at different costs.Additionally, some companies in Corinth 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 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 | $5,743 | 18.4 years |
| 8 kW | $3.72 | $20,849 | $8,066 | 18.0 years |
| 10 kW | $3.65 | $25,550 | $10,594 | 17.7 years |
| 12 kW | $3.58 | $30,047 | $13,326 | 17.3 years |
| 14 kW | $3.50 | $34,339 | $16,262 | 17.0 years |
| 16 kW | $3.43 | $38,427 | $19,403 | 16.6 years |
| 18 kW | $3.36 | $42,311 | $22,748 | 16.3 years |
| 20 kW | $3.29 | $45,990 | $26,298 | 15.9 years |
How to Save on Solar Panels
There are numerous companies to choose from in Corinth, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project completion timeline.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- 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.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Corinth, NY Solar Cost FAQs
How much does it cost to install solar panels in Corinth?
The average cost of solar panels in Corinth 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 like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind 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.
How will having solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Corinth is currently $339,917, so you can look forward to a value of about $13,937 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Corinth is a worthwhile investment.
How long do solar panels last in Corinth?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.