Solar Panel Cost Guide in Palmyra, NY (2024 Update)
- Palmyra Solar Installation Cost: $11,083
- 25-Year Savings: $7,086
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Palmyra
Find out what the average cost of solar panels are in Palmyra.
While the national average of solar panels is $2.66 per watt, solar panels in Palmyra typically cost about 4.Because a 4.3-kW system is needed to cover the energy costs of a typical home in Palmyra, the average price of going solar will be about $11,083 after claiming the federal solar tax credit of 0.
These figures are only averages, and how much solar costs for you will most likely look different based on factors unique to your home and what company you go with.With average savings of about $14,000 on power bills over 20 years, many homeowners in Palmyra find installing solar panels has a decent ROI.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Palmyra
| Year | Return on Investment |
|---|---|
| 1 years | $-10,257 |
| 3 years | $-8,605 |
| 5 years | $-6,953 |
| 7 years | $-5,301 |
| 9 years | $-3,650 |
| 11 years | $-1,998 |
| 13 years | $-346 |
| 15 years | $1,306 |
| 17 years | $2,958 |
| 19 years | $4,610 |
| 21 years | $6,261 |
| 23 years | $7,913 |
| 25 years | $9,565 |
Top Solar Installers in Palmyra
Although you can install solar panels yourself, it takes extra effort and handiness. That's why most people choose a solar panel installer. Since solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
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 Palmyra
Factors that Affect Solar Panel Costs in Palmyra
Although the average cost of a solar system in Palmyra is $11,083, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Palmyra, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular route because they cut back your upfront costs and let you pay for your system over five to seven years on average.While solar loans make switching to solar energy more accessible for Palmyra homeowners, they can also increase the total you pay for your system due to interest. If you make 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 hire to install your solar panels can play a part in determining your pricing. Palmyra’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $6,248 | 18.0 years |
| 8 kW | $3.72 | $20,849 | $8,739 | 17.6 years |
| 10 kW | $3.65 | $25,550 | $11,435 | 17.3 years |
| 12 kW | $3.58 | $30,047 | $14,335 | 16.9 years |
| 14 kW | $3.50 | $34,339 | $17,439 | 16.6 years |
| 16 kW | $3.43 | $38,427 | $20,748 | 16.2 years |
| 18 kW | $3.36 | $42,311 | $24,262 | 15.9 years |
| 20 kW | $3.29 | $45,990 | $27,979 | 15.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Palmyra, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: The brand of solar panel you want to install plays a role in which installer you should opt for, since different companies offer different panels.
- Contract: When reading through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
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 Palmyra, NY Solar Cost FAQs
How much does it cost to install solar panels in Palmyra?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other 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 want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Palmyra?
You can’t get solar panels for free in Palmyra. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Palmyra have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Palmyra?
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 level 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.