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.
The average cost of a solar system in Waverly is 4 per watt.Using this figure, a typical 4.6-kW system would cost about $11,808 before the 0 federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Waverly based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire.Even with the significant upfront cost, the average Waverly homeowner can save around $11,000 on their energy bills over 20 years, which is one of the benefits of solar.
To calculate your potential savings and connect with a local solar company, click the button below.
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
Although you can install solar panels by yourself, it involves extra labor and know-how. That's why most homeowners choose to hire a solar panel installer. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're looking for a solar company in Waverly, the EcoWatch team has compiled a list of our top suggestions here:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Waverly
Factors that Affect Solar Panel Costs in Waverly
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Waverly: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,650. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Waverly provide solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also increases your total costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Waverly is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different costs.The company’s size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and better 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 | $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 company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Waverly, NY Solar Cost FAQs
What is the average cost of installing solar panels in Waverly?
The average cost of solar panels in Waverly is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors 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 certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Waverly, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Waverly?
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 how much energy they produce will have decreased significantly after that point. You can decide to 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.