Solar Panel Cost Guide in University at Buffalo, NY (2024 Update)
- University at Buffalo Solar Installation Cost: $11,696
- 25-Year Savings: $6,285
- Payback Period: 18.6 Years
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Average Cost of Solar Panels in University at Buffalo
We go over average solar pricing in University at Buffalo.
The average cost of a solar system in University at Buffalo is 4 per watt.To account for the typical energy usage of the average home in University at Buffalo, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,696, or $16,725 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of University at Buffalo homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in University at Buffalo can save around $13,000 on their power bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in University at Buffalo
| Year | Return on Investment |
|---|---|
| 1 years | $-10,815 |
| 3 years | $-9,053 |
| 5 years | $-7,291 |
| 7 years | $-5,529 |
| 9 years | $-3,767 |
| 11 years | $-2,005 |
| 13 years | $-243 |
| 15 years | $1,519 |
| 17 years | $3,281 |
| 19 years | $5,044 |
| 21 years | $6,806 |
| 23 years | $8,568 |
| 25 years | $10,330 |
Top Solar Installers in University at Buffalo
Many homeowners opt for a solar panel company since trying to put up solar panels on your own can be hard. Some solar installers, especially local ones, can help you make the most of incentives in University at Buffalo, therefore optimizing your ROI.
There are a number of 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 University at Buffalo
Factors that Affect Solar Panel Costs in University at Buffalo
The cost of installing a solar system in University at Buffalo can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of solar panels in University at Buffalo, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.The brand of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular choice because they decrease your upfront costs and let you pay for your system over five to seven years on average.Though solar loans make going solar more accessible for University at Buffalo homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating in University at Buffalo, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally 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 | $4,685 | 19.3 years |
| 8 kW | $3.72 | $20,849 | $6,655 | 19.0 years |
| 10 kW | $3.65 | $25,550 | $8,830 | 18.6 years |
| 12 kW | $3.58 | $30,047 | $11,209 | 18.2 years |
| 14 kW | $3.50 | $34,339 | $13,793 | 17.8 years |
| 16 kW | $3.43 | $38,427 | $16,580 | 17.5 years |
| 18 kW | $3.36 | $42,311 | $19,573 | 17.1 years |
| 20 kW | $3.29 | $45,990 | $22,770 | 16.7 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: If you care about the durability of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
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 University at Buffalo, NY Solar Cost FAQs
What is the average cost of installing solar panels in University at Buffalo?
The average cost of solar panels in University at Buffalo 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 things such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in University at Buffalo?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Does University at Buffalo have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility 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?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.