Expert Advice On Improving Your Home
Expert Advice On Improving Your Home
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Written By David Cusick
Last Updated June 2024
A solar panel array will provide you with a renewable power source that will pay for itself in time. Making the transition to solar energy can help you save money and lower your carbon footprint, but you want to make sure you find a reputable installer. That’s why, after properly vetting providers, we assembled a guide to the most reliable solar companies in Binghamton. These installers have a reputation for dependable quality service.
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Today's Homeowner looks at dozens of datapoints on solar companies to come up with our data-driven rankings. It's not possible for a company to pay for preferential treatment in our rankings. We look at the following key factors in determining who should top our list:
Adopting solar power lets homeowners lower utility bills while helping the environment by reducing your carbon footprint using clean energy. If you’re evaluating if you want to go solar, consider these key factors for choosing an installer.
Confirm that your solar installer is properly licensed. This helps ensure that the work is done correctly using current installation best practices. New York state does not issue licenses to contractors, so you should check with your county or city government for its specific regulations and requirements.
Check review sites like Google Reviews, the Better Business Bureau (BBB), and TrustPilot to see feedback from past customers on local solar companies. Detailed reviews can help you assess a company's reliability and customer service. Use caution with companies that have no reviews or mostly negative ones.
Call three to five solar companies for free, itemized quotes. The quotes should describe all costs and list the solar equipment included. Reviewing multiple quotes helps identify the most cost-effective option for your budget.
High-quality solar installations should have robust workmanship and performance guarantees. The workmanship guarantee covers any installation issues like cracks in the panels, poor wiring, or poor alignment. The output guarantee ensures an energy generation baseline. Strong guarantees reflect a solar provider's faith in its installations.
Switching to solar power can help reduce your energy expenses. Be sure to weigh these aspects when judging the cost and value of solar panels.
The cost of solar panels varies based on your system's capacity and the technology used. The typical Binghamton solar array has a capacity of 4.6 kilowatts. Homeowners in the area can expect to pay around $3,650 per kilowatt; the average Binghamton homeowners spends about $11,857 on a new solar system after accounting for federal tax breaks. (Some homeowners prefer to lease solar panels to reduce their upfront costs.) A personalized quote from a local solar installer will account for factors such as the size, capacity, and panel type of the planned system, and should include costs for permit fees, labor, and preliminary work.
Incentive Type: Corporate Tax Credit
Incentive Amount:
$0.01/gallon for each percent of biodiesel
Incentive Type: Sales Tax Incentive
Incentive Amount:
100% exemption
Incentive Type: Sales Tax Incentive
Incentive Amount:
Upon local authorization, 100% exemption from local sales tax
Incentive Amount:
Incentive rates step down over time as MW goals are met. Incentive rates as of 11/27/2019 are:
Residential:
Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.30/W
Upstate Region: $0.35/W
Low-to-Moderate income customers: $0.80/W (up to 10 kW)
Small Commercial (Non-Residential):Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.60/W
Up State Region: $0.45/W
Multifamily Affordable Housing Adder: additional $0.40/W (up to 50 kW)
Incentive Amount:
Tier I: 10,000 kWh of expected annual energy production: $3.50/annual kWh
Tier II: 10,000 kWh - 125,000 kWh of expected annual energy production: $1.00/annual kWh
Tier III: 125,000 kWh - 1,000,000 kWh of expected annual energy production: $0.30/ annual kWh
Tier IV: Greater than 1,000,000 kWh of expected annual energy production: $0.15/ annual kWh
These incentives are additive.
Incentive Amount:
Generally speaking, a solar photovoltaic (PV) array can be used to power any household system or appliance that uses electricity. In the simplest case, you can use a solar water heating system.
There are many advantages of home solar energy. You can raise your property values, qualify for tax benefits, and save money. With the right storage equipment, solar panels can also provide you with further energy independence and offer some protection from power outages.
It depends on your location and what type of panels you're installing. Binghamton can experience long, hard winters, so we recommend installing your system in the springtime to maximize your generation for the year.
Your payback period is the time to achieve an ROI on your solar panels. It will vary based on their rated capacity, the average sunlight in your area, and the rate your utility charges per kilowatt of power. Binghamton gets a moderate amount of sunlight each day, so you could expect a maximum payback period of 20.5 years per 5 kW of power depending on other factors.
With respect to taxes, the federal government offers a tax credit of up to 30% of the panels' cost. Depending on where you live, you could also claim or apply for state or property tax incentives. Regarding insurance, your monthly premium may be slightly higher because solar panels increase your property's value. You should talk with your accountant or insurance agent for information specific to your case.
Solar panels are gaining traction for their high efficiency and low maintenance costs. Depending on how much sunlight your property receives, you may find they're the best performing source of renewable energy compared to others.
