Solar Panel Cost Guide in Salamanca, NY (2024 Update)
- Salamanca Solar Installation Cost: $11,918
- 25-Year Savings: $3,497
- Payback Period: 22.7 Years
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Average Cost of Solar Panels in Salamanca
Find out what the average cost of a solar system is in Salamanca.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Salamanca, the typical cost of solar panels is 4 per watt.Since a 4.7-kW system is needed to cover the energy consumption of a typical home in Salamanca, the average price of going solar will be about $11,918 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of solar system you choose, your solar contractor and more.But, after you've paid the initial cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $11,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar installer in Salamanca that can help you get a more accurate cost estimate for your home.
Solar savings over time in Salamanca
| Year | Return on Investment |
|---|---|
| 1 years | $-11,009 |
| 3 years | $-9,192 |
| 5 years | $-7,375 |
| 7 years | $-5,558 |
| 9 years | $-3,741 |
| 11 years | $-1,923 |
| 13 years | $-106 |
| 15 years | $1,711 |
| 17 years | $3,528 |
| 19 years | $5,345 |
| 21 years | $7,162 |
| 23 years | $8,979 |
| 25 years | $10,797 |
Top Solar Installers in Salamanca
Although it's possible to install solar panels by yourself, it takes extra effort and knowledge. For that reason, most people choose to hire a solar panel installer. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
Working with a professional solar installer can help your solar project go smoothly. 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 Salamanca
Factors that Affect Solar Panel Costs in Salamanca
While the average cost of a solar system in Salamanca is $11,918, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.The kind of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Salamanca homeowners opt to finance their solar panel systems to make going solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Salamanca is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services at different price points.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $945 | 23.6 years |
| 8 kW | $3.72 | $20,849 | $1,669 | 23.1 years |
| 10 kW | $3.65 | $25,550 | $2,597 | 22.7 years |
| 12 kW | $3.58 | $30,047 | $3,730 | 22.2 years |
| 14 kW | $3.50 | $34,339 | $5,067 | 21.8 years |
| 16 kW | $3.43 | $38,427 | $6,608 | 21.3 years |
| 18 kW | $3.36 | $42,311 | $8,354 | 20.9 years |
| 20 kW | $3.29 | $45,990 | $10,304 | 20.4 years |
How to Save on Solar Panels
There are a lot of companies available in Salamanca, 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: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
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 Salamanca, NY Solar Cost FAQs
What is the average cost of installing solar panels in Salamanca?
The average cost of solar panels in Salamanca 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 like the model 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 Salamanca?
Leasing solar panels can be an appealing choice, as it typically 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 maximize your savings.
Does Salamanca have a net metering program?
Most states have net metering programs of some kind. Through these, you can 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 often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.