Solar Panel Cost Guide in Albany, NY (2024 Update)

  • Albany Solar Installation Cost: $11,379
  • 25-Year Savings: $6,794
  • Payback Period: 17.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Albany

We break down average solar pricing in Albany.

While the national average of solar panels is $2.66 per watt, solar panels in Albany generally cost around 4.Because a 4.5-kW system is needed to cover the energy needs of a typical home in Albany, the average price of going solar will be about $11,379 after claiming the federal solar tax credit of 0.

Keep in mind that the figures above are only estimates based on the average energy use of Albany homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $14,000 on energy bills over 20 years, many homeowners in Albany find installing solar panels has a decent ROI.

To get a free quote from a top solar installation company in Albany, you can click the button below.

Solar savings over time in Albany

Year Return on Investment
1 years $-10,474
3 years $-8,663
5 years $-6,853
7 years $-5,042
9 years $-3,232
11 years $-1,421
13 years $389
15 years $2,200
17 years $4,011
19 years $5,821
21 years $7,632
23 years $9,442
25 years $11,253

Top Solar Installers in Albany

When switching to solar energy, many homeowners choose to hire a solar installation company since installing a solar system yourself can be a time-consuming project. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be right for you.

If you’d like to make the switch to solar but still aren’t certain which solar company to go with, here are our suggestions for providers in Albany:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Albany

Factors that Affect Solar Panel Costs in Albany

For many Albany homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Albany, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the price of solar panels in Albany, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. In addition, extra products, like solar batteries, can bring your total well above the Albany average.

Solar Financing Terms

If paying for solar panels in cash is out of reach, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your all-in costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

The solar company you choose will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Albany are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.

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 $5,599 18.5 years
8 kW $3.72 $20,849 $7,875 18.1 years
10 kW $3.65 $25,550 $10,354 17.8 years
12 kW $3.58 $30,047 $13,038 17.4 years
14 kW $3.50 $34,339 $15,927 17.1 years
16 kW $3.43 $38,427 $19,020 16.7 years
18 kW $3.36 $42,311 $22,317 16.4 years
20 kW $3.29 $45,990 $25,818 16.0 years

How to Save on Solar Panels

The solar installer you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:

  • Solar Panel Brands: The model of solar panel you’d like to get plays a role in which installer you should go with, since different companies have access to different panels.
  • Installation Process: When making the switch to solar power, it’s essential to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project completion timeline.
  • Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Albany, NY Solar Cost FAQs

How much does it cost to install solar panels in Albany?

This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.

What other factors should I consider other than cost when buying solar panels?

Cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

Can solar panels eliminate my electricity bills?

Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $718.08 per year.

How often do you have to replace solar panels?

Although 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 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.

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