Solar Panel Cost Guide in Balmville, NY (Mar 2023)
- Balmville Solar Installation Cost: $8,941
- 25-Year Savings: $13,059
- Payback Period: 10.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Balmville
We go over average solar pricing in Balmville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Balmville, the typical cost of a solar system is 2.95 per watt. Since a 4.3-kW system is needed to cover the energy consumption of a typical home in Balmville, the average price of going solar will be about $8,941 after claiming the federal solar tax credit of 30%.
The true price you pay can be higher or lower than the average in Balmville depending on a few factors, such as the kind of solar panels you choose and the solar company you hire. But, after you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $19,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar company in Balmville for a quote for your home.
Solar savings over time in Balmville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,061 |
| 3 years | $-6,301 |
| 5 years | $-4,541 |
| 7 years | $-2,781 |
| 9 years | $-1,021 |
| 11 years | $739 |
| 13 years | $2,499 |
| 15 years | $4,259 |
| 17 years | $6,019 |
| 19 years | $7,779 |
| 21 years | $9,539 |
| 23 years | $11,299 |
| 25 years | $13,059 |
Top Solar Installers in Balmville
Trying to install solar panels yourself can be a difficult project, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're on the hunt for a solar company in Balmville, the EcoWatch team has organized 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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Balmville
Factors that Affect Solar Panel Costs in Balmville
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Balmville: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar 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 around $2,950. The kind 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. On the other hand, higher efficiency could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Balmville average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Balmville homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to 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 securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Balmville, and each can charge different amounts for labor and equipment. The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and bulk 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 lower 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 | $3.07 | $12,886 | $17,615 | 10.6 years |
| 8 kW | $3.01 | $16,850 | $23,818 | 10.4 years |
| 10 kW | $2.95 | $20,650 | $30,185 | 10.2 years |
| 12 kW | $2.89 | $24,284 | $36,718 | 10.0 years |
| 14 kW | $2.83 | $27,754 | $43,416 | 9.7 years |
| 16 kW | $2.77 | $31,058 | $50,279 | 9.5 years |
| 18 kW | $2.71 | $34,196 | $57,307 | 9.3 years |
| 20 kW | $2.66 | $37,170 | $64,500 | 9.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Balmville, NY Solar Cost FAQs
What is the average cost of installing solar panels in Balmville?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Balmville?
You can't get solar panels for free in Balmville. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can 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 buy between 20 and 35 panels to cover 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.