Solar Panel Cost Guide in Albany, CA (2023 Update)
- Albany Solar Installation Cost: $5,754
- 25-Year Savings: $20,577
- Payback Period: 5.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Albany
Here's how much it might cost to install solar panels in Albany.
In Albany, solar panels cost about 2.73 per watt on average. To cover the typical energy needs of the average home in Albany, most homeowners require a 3.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $5,752, or $8,225 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar panels you choose, your solar contractor and more. For most homeowners, the upfront investment in solar is worth paying. On average Albany homeowners see about $33,000 in savings on utility bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Albany
| Year | Return on Investment |
|---|---|
| 1 years | $-4,216 |
| 3 years | $-1,140 |
| 5 years | $1,936 |
| 7 years | $5,011 |
| 9 years | $8,087 |
| 11 years | $11,163 |
| 13 years | $14,239 |
| 15 years | $17,315 |
| 17 years | $20,390 |
| 19 years | $23,466 |
| 21 years | $26,542 |
| 23 years | $29,618 |
| 25 years | $32,694 |
Top Solar Installers in Albany
Trying to install solar panels by yourself can be a difficult project, which is why using a solar installer is a good option for many homeowners. The expertise that solar installers provide can be helpful as well, particularly if you don't quite know what kind of solar equipment you need.
If you'd like to make the switch to solar but still aren't sure which solar panel company to go with, here are our recommendations for providers nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Albany
Factors that Affect Solar Panel Costs in Albany
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Albany: 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 panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,730. There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Albany, and each can charge varying amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that provides the products, warranties and services you want and also fits 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 | $2.84 | $11,925 | $40,546 | 5.7 years |
| 8 kW | $2.78 | $15,594 | $54,367 | 5.6 years |
| 10 kW | $2.73 | $19,110 | $68,341 | 5.5 years |
| 12 kW | $2.68 | $22,473 | $82,468 | 5.4 years |
| 14 kW | $2.62 | $25,684 | $96,747 | 5.2 years |
| 16 kW | $2.57 | $28,741 | $111,180 | 5.1 years |
| 18 kW | $2.51 | $31,646 | $125,765 | 5.0 years |
| 20 kW | $2.46 | $34,398 | $140,504 | 4.9 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Contract: Before you sign a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- 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 substantial role in the company you choose.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Albany, CA Solar Cost FAQs
How much does it cost to install solar panels in Albany?
The average cost of solar panels in Albany is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Albany?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,749.02 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.