Solar Panel Cost Guide in Oxford, NY (2024 Update)
- Oxford Solar Installation Cost: $11,872
- 25-Year Savings: $5,205
- Payback Period: 20.1 Years
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Average Cost of Solar Panels in Oxford
Let’s have a look at the average cost of solar in Oxford.
The average cost of solar panels in Oxford is 4 per watt.The average solar panel system size in Oxford is around 4.6 kilowatts, meaning a cost of about $11,872 for a solar installation, or $16,977 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of solar system you want to get, your solar contractor and more.For many homeowners, the upfront investment in solar panels is worth paying. On average Oxford homeowners see about $12,000 in savings on utility bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Oxford
| Year | Return on Investment |
|---|---|
| 1 years | $-11,046 |
| 3 years | $-9,394 |
| 5 years | $-7,742 |
| 7 years | $-6,091 |
| 9 years | $-4,439 |
| 11 years | $-2,787 |
| 13 years | $-1,135 |
| 15 years | $517 |
| 17 years | $2,169 |
| 19 years | $3,820 |
| 21 years | $5,472 |
| 23 years | $7,124 |
| 25 years | $8,776 |
Top Solar Installers in Oxford
Although you can install solar panels on your own, it involves extra energy and knowledge. Because of that, the majority of homeowners choose to go with a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you’d like to go solar but still aren’t certain which solar panel company to go with, here are our suggestions for providers nearby:
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 Oxford
Factors that Affect Solar Panel Costs in Oxford
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Oxford: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Oxford, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $3,650 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid choice because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.Even though solar loans make adopting solar energy more accessible for Oxford homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Oxford is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for example, you’ll have no shortage of solar installers that offer a range of services at different price points.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $3,167 | 20.9 years |
| 8 kW | $3.72 | $20,849 | $4,632 | 20.5 years |
| 10 kW | $3.65 | $25,550 | $6,301 | 20.1 years |
| 12 kW | $3.58 | $30,047 | $8,174 | 19.7 years |
| 14 kW | $3.50 | $34,339 | $10,252 | 19.3 years |
| 16 kW | $3.43 | $38,427 | $12,534 | 18.9 years |
| 18 kW | $3.36 | $42,311 | $15,021 | 18.4 years |
| 20 kW | $3.29 | $45,990 | $17,712 | 18.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: The kind of solar panel you need to install plays a part in which installer you should choose, since different companies offer different panels.
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 Oxford, NY Solar Cost FAQs
What is the average cost of installing solar panels in Oxford?
The average cost of solar panels in Oxford 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 stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Oxford?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Oxford?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.