Solar Panel Cost Guide in Bedford, NY (2023 Update)
- Bedford Solar Installation Cost: $8,652
- 25-Year Savings: $15,417
- Payback Period: 9.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Bedford
Let's take a look at the average cost of solar panels in Bedford.
The average cost of a solar panel system in Bedford is 2.95 per watt. Because a 4.2-kW system is needed to cover the energy costs of a typical home in Bedford, the average price of going solar will be about $8,652 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of making the switch to solar can vary depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Bedford can save around $22,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a personalized estimate.
Solar savings over time in Bedford
| Year | Return on Investment |
|---|---|
| 1 years | $-7,690 |
| 3 years | $-5,764 |
| 5 years | $-3,838 |
| 7 years | $-1,913 |
| 9 years | $13 |
| 11 years | $1,938 |
| 13 years | $3,864 |
| 15 years | $5,789 |
| 17 years | $7,715 |
| 19 years | $9,641 |
| 21 years | $11,566 |
| 23 years | $13,492 |
| 25 years | $15,417 |
Top Solar Installers in Bedford
When switching to solar energy, many homeowners choose to go with a solar company since handling can be a challenging project. Some solar installers, particularly local ones, can help you take advantage of incentives in Bedford, thereby optimizing your ROI.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Bedford:
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 Bedford
Factors that Affect Solar Panel Costs in Bedford
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Bedford: 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
When it comes to estimating the price of a solar panel system in Bedford, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,950 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Bedford, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Bedford have solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of loans, 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 more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you select will affect your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $21,612 | 9.3 years |
| 8 kW | $3.01 | $16,850 | $29,146 | 9.2 years |
| 10 kW | $2.95 | $20,650 | $36,846 | 9.0 years |
| 12 kW | $2.89 | $24,284 | $44,711 | 8.8 years |
| 14 kW | $2.83 | $27,754 | $52,741 | 8.6 years |
| 16 kW | $2.77 | $31,058 | $60,936 | 8.4 years |
| 18 kW | $2.71 | $34,196 | $69,297 | 8.3 years |
| 20 kW | $2.66 | $37,170 | $77,822 | 8.1 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: The type of solar panel you need plays a role in which company you should go with, since different companies offer different panels.
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 Bedford, NY Solar Cost FAQs
What is the average cost of installing solar panels in Bedford?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally 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 be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Bedford?
Leasing solar panels can be an option if you are unable to 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 bang for your buck from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of 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 consumption 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 install 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.