Solar Panel Cost Guide in Broadalbin, NY (2023 Update)
- Broadalbin Solar Installation Cost: $9,219
- 25-Year Savings: $6,988
- Payback Period: 14.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Broadalbin
Find out how much it might cost to go solar in Broadalbin.
In Broadalbin, solar panels cost about 2.95 per watt on average. The average Broadalbin homeowner needs a 4.5-kilowatt system, which would cost about $9,210 with the federal tax credit, or $13,170 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary depending on a few factors, such as what size system you need, your energy consumption and what installation company you go with. With average savings of about $14,000 on electricity bills over 20 years, many homeowners in Broadalbin find installing solar panels can be quite rewarding.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Broadalbin
| Year | Return on Investment |
|---|---|
| 1 years | $-8,311 |
| 3 years | $-6,493 |
| 5 years | $-4,676 |
| 7 years | $-2,859 |
| 9 years | $-1,042 |
| 11 years | $775 |
| 13 years | $2,592 |
| 15 years | $4,409 |
| 17 years | $6,227 |
| 19 years | $8,044 |
| 21 years | $9,861 |
| 23 years | $11,678 |
| 25 years | $13,495 |
Top Solar Installers in Broadalbin
Many homeowners opt for a solar installer since installing solar panels yourself can be time-consuming. Local solar companies can also help you maximize your return on investment by assisting with any local incentives you can take advantage of and by offering warranties and repairs.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Broadalbin
Factors that Affect Solar Panel Costs in Broadalbin
For many Broadalbin homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Broadalbin, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,950. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Broadalbin to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time because of interest. However, the interest on solar loans also increases your all-in costs, so it's vital to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Broadalbin, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $8,895 | 14.8 years |
| 8 kW | $3.01 | $16,850 | $12,191 | 14.5 years |
| 10 kW | $2.95 | $20,650 | $15,652 | 14.2 years |
| 12 kW | $2.89 | $24,284 | $19,278 | 13.9 years |
| 14 kW | $2.83 | $27,754 | $23,069 | 13.7 years |
| 16 kW | $2.77 | $31,058 | $27,025 | 13.4 years |
| 18 kW | $2.71 | $34,196 | $31,147 | 13.1 years |
| 20 kW | $2.66 | $37,170 | $35,433 | 12.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies carry various brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Broadalbin, NY Solar Cost FAQs
How much does it cost to install solar panels in Broadalbin?
This is a hard question to answer exactly, 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Broadalbin?
You can't get solar panels for free in Broadalbin. However, you may still be able to afford 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 it worth going solar in Broadalbin?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.