Solar Panel Cost Guide in Wolcott, NY (2024 Update)
- Wolcott Solar Installation Cost: $11,083
- 25-Year Savings: $8,059
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Wolcott
Find out what the average cost of a solar system is in Wolcott.
The national average cost of solar panels is $2.66 per watt, but in Wolcott it’s 4 per watt.Because a 4.3-kW system is needed to cover the energy needs of a typical home in Wolcott, the average price of going solar will be about $11,083 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what company you go with.For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $15,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Wolcott that can help you get a more accurate cost estimate for your home.
Solar savings over time in Wolcott
| Year | Return on Investment |
|---|---|
| 1 years | $-10,176 |
| 3 years | $-8,362 |
| 5 years | $-6,549 |
| 7 years | $-4,735 |
| 9 years | $-2,922 |
| 11 years | $-1,108 |
| 13 years | $706 |
| 15 years | $2,519 |
| 17 years | $4,333 |
| 19 years | $6,146 |
| 21 years | $7,960 |
| 23 years | $9,774 |
| 25 years | $11,587 |
Top Solar Installers in Wolcott
When going solar, many homeowners prefer to use a solar installation company since overseeing your solar installation yourself can be a time-consuming project. Companies can also have access to a large variety of the best solar panels and help you choose which one will be right for your home.
There are several licensed solar professionals that can install solar panels for you. 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 Wolcott
Factors that Affect Solar Panel Costs in Wolcott
The cost of installing a solar system in Wolcott can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $3,650 per kilowatt in Wolcott.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable choice because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.While solar loans make going solar more accessible for Wolcott homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make 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 choose to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Wolcott, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $7,594 | 16.9 years |
| 8 kW | $3.72 | $20,849 | $10,534 | 16.6 years |
| 10 kW | $3.65 | $25,550 | $13,678 | 16.3 years |
| 12 kW | $3.58 | $30,047 | $17,027 | 16.0 years |
| 14 kW | $3.50 | $34,339 | $20,581 | 15.6 years |
| 16 kW | $3.43 | $38,427 | $24,338 | 15.3 years |
| 18 kW | $3.36 | $42,311 | $28,300 | 15.0 years |
| 20 kW | $3.29 | $45,990 | $32,467 | 14.7 years |
How to Save on Solar Panels
There are many companies available in Wolcott, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
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 Wolcott, NY Solar Cost FAQs
What is the average cost of installing solar panels in Wolcott?
The average cost of solar panels in Wolcott 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 such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Wolcott, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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 house 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.