Solar Panel Cost Guide in Waverly, NY (2024 Update)
- Waverly Solar Installation Cost: $11,808
- 25-Year Savings: $4,225
- Payback Period: 21.4 Years
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Average Cost of Solar Panels in Waverly
Let’s take a look at the average cost of solar in Waverly.
In Waverly, solar panels cost about 4 per watt on average.The average solar panel system size in Waverly is around 4.6 kilowatts, meaning a cost of about $11,808 for a solar installation, or $16,885 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of equipment you want, your solar contractor and more.With average savings of about $11,000 on electricity bills over 20 years, many homeowners in Waverly find going solar can pay off big.
You can click the button below to get connected with a pre-vetted solar company in Waverly that can help you get a more accurate cost estimate for your home.
Solar savings over time in Waverly
| Year | Return on Investment |
|---|---|
| 1 years | $-10,982 |
| 3 years | $-9,331 |
| 5 years | $-7,679 |
| 7 years | $-6,027 |
| 9 years | $-4,375 |
| 11 years | $-2,723 |
| 13 years | $-1,071 |
| 15 years | $580 |
| 17 years | $2,232 |
| 19 years | $3,884 |
| 21 years | $5,536 |
| 23 years | $7,188 |
| 25 years | $8,840 |
Top Solar Installers in Waverly
Trying to install solar panels by yourself can be a dangerous task, which is why hiring a solar installer is a good option for many homeowners. Solar installers offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are various licensed solar professionals that can help you install your solar panels. 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 Waverly
Factors that Affect Solar Panel Costs in Waverly
The cost of installing a solar system in Waverly can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar equipment you choose can bring your price up or down 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, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Waverly average.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the growing popularity of renewable energy solutions in Waverly, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that has the products, warranties and services you want and also is within your budget.
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 | $1,932 | 22.3 years |
| 8 kW | $3.72 | $20,849 | $2,985 | 21.9 years |
| 10 kW | $3.65 | $25,550 | $4,242 | 21.4 years |
| 12 kW | $3.58 | $30,047 | $5,704 | 21.0 years |
| 14 kW | $3.50 | $34,339 | $7,370 | 20.6 years |
| 16 kW | $3.43 | $38,427 | $9,240 | 20.2 years |
| 18 kW | $3.36 | $42,311 | $11,315 | 19.7 years |
| 20 kW | $3.29 | $45,990 | $13,594 | 19.3 years |
How to Save on Solar Panels
The solar panel company you opt for will affect 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 some important things you should take into account, including:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Waverly, NY Solar Cost FAQs
What is the average cost of installing solar panels in Waverly?
This is a hard question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $595.84 per year.
How often do you have to replace solar panels?
On average, solar panels can last 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 higher 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.