Solar Panel Cost Guide in Carmel, NY (Sep 2022)

  • Carmel Solar Installation Cost: $8,921
  • 25-Year Savings: $8,279
  • Payback Period: 13.0 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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 Carmel

We go over average solar pricing in Carmel.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Carmel, the typical cost of a solar system is $3 per watt. Using this figure, a typical 4.3 would cost about $8,921 before the 30% federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar system you choose, your solar contractor and more. For many homeowners, the upfront cost of solar power is worth paying. On average Carmel homeowners see about $15,000 in savings on electricity bills over 20 years.

Click the button below to get connected to a highly rated solar company in your area for a custom quote.

Solar savings over time in Carmel

Year Return on Investment
1 years $-8,233
3 years $-6,857
5 years $-5,481
7 years $-4,105
9 years $-2,729
11 years $-1,353
13 years $23
15 years $1,399
17 years $2,775
19 years $4,151
21 years $5,527
23 years $6,903
25 years $8,279

Top Solar Installers in Carmel

Many homeowners opt for a solar installation company since installing solar panels by yourself can be a lot of work. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.

If you'd like to start using solar energy but still aren't certain which solar system company to go with, here are our recommendations for providers in Carmel:

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 Technology

The Green Panel

★★★★★
4.5

  • 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 Carmel

Factors that Affect Solar Panel Costs in Carmel

While the average cost of solar panels in Carmel is $8,921, your final cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.

Solar Equipment Size

The size of the solar panel system you need for your household is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,950. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Carmel, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Carmel, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your overall costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in Carmel is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that offer a range of services for different budgets. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.

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 $10,994 13.5 years
8 kW $3.01 $16,850 $14,990 13.2 years
10 kW $2.95 $20,650 $19,150 13.0 years
12 kW $2.89 $24,284 $23,476 12.7 years
14 kW $2.83 $27,754 $27,967 12.5 years
16 kW $2.77 $31,058 $32,623 12.2 years
18 kW $2.71 $34,196 $37,444 11.9 years
20 kW $2.66 $37,170 $42,430 11.7 years

Solar Incentives in Carmel

Name State of NY Commercial PACE Financing Program
Incentive Amount Locally determined
Website Visit here
More Info Click here

Name Residential Solar Tax Credit
Website Visit here
More Info Click here

Name Refundable Clean Heating Fuel Tax Credit (Corporate)
More Info Click here

Name NY-Sun Loan Program
Website Visit here
More Info Click here

Name Residential Wood Heating Fuel Exemption
Incentive Amount 100% exemption
More Info Click here

Name Local Option - Solar Sales Tax Exemption
More Info Click here

Name Solar Sales Tax Exemption
Website Visit here
More Info Click here

Name Local Option - Real Property Tax Exemption for Green Buildings
Website Visit here
More Info Click here

Name Energy Conservation Improvements Property Tax Exemption
Website Visit here
More Info Click here

Name Local Option - Solar, Wind & Biomass Energy Systems Exemption
Website Visit here
More Info Click here

Name NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business)
Website Visit here
More Info Click here

Name Ground Source Heat Pump Rebate Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR
Incentive Amount
Website Visit here
More Info Click here

Name NY Green Bank
Website Visit here
More Info Click here

Name Refundable Clean Heating Fuel Tax Credit (Personal)
Website Visit here
More Info Click here

Name On-Site Wind Incentive Program
Website Visit here
More Info Click here

Name Anaerobic Digester Gas-to-Electricity Rebate and Performance Incentive
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar panel company you choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:

  • Reputation: Your solar installer should have a good reputation as a company and have demonstrated 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 good reviews from previous customers.
  • Contract: Before you sign a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Installation Process: When going solar, it's crucial to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.

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 Technology

The Green Panel

★★★★★
4.5

  • 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 Carmel, NY Solar Cost FAQs

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

The average cost of solar panels in Carmel is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Carmel?

Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.

Can you sell solar power back to the grid in Carmel?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.

How long do solar panels last in Carmel?

Though 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 the amount of 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us