Solar Panels in Binghamton New York Area: An Overview
All Data As of March 31st 2017
- Average Residential Solar System Size in Binghamton New York Area 6.17 Kilowatts
- Average Cost of Solar Panels in Binghamton New York Area: $21,499 BEFORE incentives ($15,049 AFTER federal incentives)
- Average Cost of Solar Panels in Binghamton New York Area (Per Watt): $3.58 BEFORE incentives ($2.51 AFTER federal incentives)
Cost of Solar Panels in Binghamton New York Area
In addition, it is important to look at pricing distributions vs. averages or medians if you want to understand what a good deal is on a solar system. Also, in general larger solar systems will cost less per kilowatt as there are certain fixed costs associated with an installation.
The average cost per watt of a solar panels in the Binghamton New York area is $3.58 per watt (before incentives) and 25% of consumers paid less than $3.20 per watt. So if you are looking to get the best price for a solar system in the Binghamton New York Area and have an average sized system, you should find an installer below $3.25 per watt.
Solar Financing and Installation Trends in Binghamton New York Area
Residential solar installations have increased significantly in the Binghamton New York area, although growth slowed in 2016. From 2011 to 2016, installations have increased from 20 to 65. The slowdown in installation activity and installer turmoil, has created a buying opportunity for consumers. In Q1-2017, solar installations declined 27% in Binghamton from Q1-2016.
Solar Financing in Binghamton New York Area
In 2016, 95% of consumers purchased their solar system either with cash or a loan vs. and 5% used a lease or power purchase agreement (PPA) structure. Refer to our lease vs. buy guide to understand the implications of solar financing options. The percentage of consumers that purchased their solar system in the Binghamton New York area has increased in 2016 due to an increasing number of low-cost solar loans.
Top Solar Companies in Binghamton New York Area
Choosing a solar installer is arguably the most important step of going solar and we recommend reading our guide on how to choose a solar company. In the Binghamton New York Area in 2016, approximately 50% of consumers chose a local installer vs. 50% that chose a national installer (SolarCity, Vivint or Sunrun).