Solar Panel Cost Guide in Malone, NY (2024 Update)
- Malone Solar Installation Cost: $12,331
- 25-Year Savings: $5,772
- Payback Period: 19.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Malone
We go over average solar pricing in Malone.
While the national average of solar panels is $2.66 per watt, solar panels in Malone typically cost around 4.The average solar panel system size in Malone is around 4.8 kilowatts, meaning a cost of about $12,331 for a solar installation, or $17,633 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy usage and what company you go with.Even with the large initial cost, the average Malone homeowner can save about $12,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a reputable solar installer in Malone for a personalized estimate.
Solar savings over time in Malone
| Year | Return on Investment |
|---|---|
| 1 years | $-11,450 |
| 3 years | $-9,688 |
| 5 years | $-7,925 |
| 7 years | $-6,163 |
| 9 years | $-4,401 |
| 11 years | $-2,639 |
| 13 years | $-877 |
| 15 years | $885 |
| 17 years | $2,647 |
| 19 years | $4,409 |
| 21 years | $6,171 |
| 23 years | $7,933 |
| 25 years | $9,695 |
Top Solar Installers in Malone
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with an installer can make your switch to solar power much easier. Some solar companies, especially local ones, can help you take advantage of incentives in Malone, thereby optimizing your ROI.
There are several licensed solar professionals that can take care of your solar installation project. 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 Malone
Factors that Affect Solar Panel Costs in Malone
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Malone: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Malone average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Malone 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 Malone homeowners, they can also increase 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
Finally, the company you opt for to install your solar panel system can influence your pricing. Malone’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Malone are more knowledgeable about local solar incentives and can help you take advantage 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 | $3,623 | 20.4 years |
| 8 kW | $3.72 | $20,849 | $5,239 | 20.0 years |
| 10 kW | $3.65 | $25,550 | $7,060 | 19.6 years |
| 12 kW | $3.58 | $30,047 | $9,086 | 19.2 years |
| 14 kW | $3.50 | $34,339 | $11,315 | 18.8 years |
| 16 kW | $3.43 | $38,427 | $13,749 | 18.4 years |
| 18 kW | $3.36 | $42,311 | $16,388 | 18.0 years |
| 20 kW | $3.29 | $45,990 | $19,231 | 17.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: The brand of solar panel you want plays a part in which company you should choose, since different companies have access to different panels.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Contract: Review the contract terms carefully to make sure you understand the total cost, completion timeline incentives and warranties.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
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 Malone, NY Solar Cost FAQs
How much does it cost to install solar panels in Malone?
This is a hard 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 higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Malone, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.