Solar Panel Cost Guide in Galway, NY (2024 Update)
- Galway Solar Installation Cost: $11,457
- 25-Year Savings: $6,747
- Payback Period: 17.9 Years
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Average Cost of Solar Panels in Galway
Find out what the average cost of a solar system is in Galway.
The national average cost of solar panels is $2.66 per watt, but in Galway it’s 4 per watt.Using this figure, a typical 4.5-kW system would cost about $11,457 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in Galway depending on several factors, such as the kind of solar panels you choose and the solar installer you hire.For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $14,000 in savings on electricity bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Galway
| Year | Return on Investment |
|---|---|
| 1 years | $-10,562 |
| 3 years | $-8,772 |
| 5 years | $-6,983 |
| 7 years | $-5,193 |
| 9 years | $-3,403 |
| 11 years | $-1,614 |
| 13 years | $176 |
| 15 years | $1,965 |
| 17 years | $3,755 |
| 19 years | $5,545 |
| 21 years | $7,334 |
| 23 years | $9,124 |
| 25 years | $10,913 |
Top Solar Installers in Galway
Although it's possible to install solar panels by yourself, it takes extra effort and knowledge. That's why most homeowners choose a solar panel installer. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are a number of licensed solar professionals that can help you install your solar panels. 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 Galway
Factors that Affect Solar Panel Costs in Galway
For many Galway homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Galway, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need, 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 brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at 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 increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Galway homeowners choose to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your total costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Galway, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.The company’s size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $5,474 | 18.6 years |
| 8 kW | $3.72 | $20,849 | $7,708 | 18.3 years |
| 10 kW | $3.65 | $25,550 | $10,146 | 17.9 years |
| 12 kW | $3.58 | $30,047 | $12,788 | 17.5 years |
| 14 kW | $3.50 | $34,339 | $15,635 | 17.2 years |
| 16 kW | $3.43 | $38,427 | $18,686 | 16.8 years |
| 18 kW | $3.36 | $42,311 | $21,941 | 16.5 years |
| 20 kW | $3.29 | $45,990 | $25,401 | 16.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
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 Galway, NY Solar Cost FAQs
What is the average cost of installing solar panels in Galway?
This is a hard question to answer precisely, 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Galway?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How will having solar panels impact how much my home is worth?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.