Solar Panel Cost Guide in North Elba, NY (2024 Update)
- North Elba Solar Installation Cost: $11,859
- 25-Year Savings: $5,440
- Payback Period: 19.7 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in North Elba
Find out what the average cost of solar panels are in North Elba.
In North Elba, solar panels cost about 4 per watt on average.The average North Elba homeowner needs a 4.6-kilowatt system, which would cost about $11,859 with the federal tax credit, or $16,958 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you may look different based on your specific situation and what company you go with.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $12,000 over 20 years on power bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in North Elba
Year | Return on Investment |
---|---|
1 years | $-10,978 |
3 years | $-9,216 |
5 years | $-7,454 |
7 years | $-5,692 |
9 years | $-3,930 |
11 years | $-2,168 |
13 years | $-406 |
15 years | $1,356 |
17 years | $3,119 |
19 years | $4,881 |
21 years | $6,643 |
23 years | $8,405 |
25 years | $10,167 |
Top Solar Installers in North Elba
Installing solar panels yourself can be a dangerous task, which is why getting a solar installation company is a good option for many homeowners. Some solar companies, especially local ones, can help you take advantage of incentives in North Elba, therefore optimizing your ROI.
There are various 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 North Elba
Factors that Affect Solar Panel Costs in North Elba
There are a number of criteria 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 installs your solar panels.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 limited roof space 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 extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular route because they lower your upfront costs and let you pay for your system over five to seven years on average.Even though solar loans make adopting solar energy more accessible for North Elba 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 make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in North Elba is the company you choose to install your solar system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services for different budgets.Additionally, some companies in North Elba have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $3,479 | 20.5 years |
8 kW | $3.72 | $20,849 | $5,048 | 20.1 years |
10 kW | $3.65 | $25,550 | $6,821 | 19.7 years |
12 kW | $3.58 | $30,047 | $8,799 | 19.3 years |
14 kW | $3.50 | $34,339 | $10,980 | 18.9 years |
16 kW | $3.43 | $38,427 | $13,367 | 18.5 years |
18 kW | $3.36 | $42,311 | $15,957 | 18.2 years |
20 kW | $3.29 | $45,990 | $18,752 | 17.8 years |
How to Save on Solar Panels
There are numerous companies available in North Elba, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which model 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 ask for their list of options before deciding.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully 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: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 North Elba, NY Solar Cost FAQs
What is the average cost of installing solar panels in North Elba?
The average cost of solar panels in North Elba is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in North Elba?
A solar panel system isn’t free in North Elba, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.