Solar Panel Cost Guide in Pompey, NY (2024 Update)
- Pompey Solar Installation Cost: $11,835
- 25-Year Savings: $6,361
- Payback Period: 18.6 Years
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Average Cost of Solar Panels in Pompey
Find out what the average cost of a solar system is in Pompey.
In Pompey, solar panels cost about 4 per watt on average.The average Pompey homeowner needs a 4.6-kilowatt system, which would cost about $11,835 with the federal tax credit, or $16,924 before the 0 tax credit is applied.
The true cost of your system can be above or below the average in Pompey depending on a variety of factors, such as the type of solar panels you choose and the solar installer you hire.Even with the high upfront cost, the average Pompey homeowner can save about $13,000 on their electricity bills over 20 years, which is one of the perks of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Pompey
| Year | Return on Investment |
|---|---|
| 1 years | $-10,947 |
| 3 years | $-9,171 |
| 5 years | $-7,395 |
| 7 years | $-5,619 |
| 9 years | $-3,844 |
| 11 years | $-2,068 |
| 13 years | $-292 |
| 15 years | $1,484 |
| 17 years | $3,260 |
| 19 years | $5,036 |
| 21 years | $6,811 |
| 23 years | $8,587 |
| 25 years | $10,363 |
Top Solar Installers in Pompey
When going solar, many homeowners opt to hire a solar company since installing solar panels yourself can be a challenging project. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Pompey
Factors that Affect Solar Panel Costs in Pompey
For many Pompey homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Pompey, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,650. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Pompey average.
Solar Financing Terms
Many homeowners find the average cost of solar in Pompey to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest.Though solar loans make switching to solar energy more accessible for Pompey 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
The solar company you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating in Pompey, and each can charge different amounts for labor and equipment.Additionally, some companies in Pompey 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 | $4,686 | 19.3 years |
| 8 kW | $3.72 | $20,849 | $6,657 | 18.9 years |
| 10 kW | $3.65 | $25,550 | $8,832 | 18.6 years |
| 12 kW | $3.58 | $30,047 | $11,211 | 18.2 years |
| 14 kW | $3.50 | $34,339 | $13,795 | 17.8 years |
| 16 kW | $3.43 | $38,427 | $16,583 | 17.5 years |
| 18 kW | $3.36 | $42,311 | $19,576 | 17.1 years |
| 20 kW | $3.29 | $45,990 | $22,773 | 16.7 years |
How to Save on Solar Panels
The solar company you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Warranty: If you care about the longevity of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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 Pompey, NY Solar Cost FAQs
How much does it cost to install solar panels in Pompey?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Pompey?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback 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.
Do solar panels increase your property value?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t opt for 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."
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.