Solar Panel Cost Guide in Chatham, NY (2024 Update)
- Chatham Solar Installation Cost: $11,344
- 25-Year Savings: $6,335
- Payback Period: 18.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Chatham
Find out what the average cost of solar panels are in Chatham.
In Chatham, solar panels cost about 4 per watt on average.Since a 4.4-kW system is needed to cover the energy usage of a typical home in Chatham, the average price of going solar will be about $11,344 after claiming the federal solar tax credit of 0.
The true cost of your system can go above or below the average in Chatham depending on several factors, such as the type of solar panels you choose and the solar contractor you hire.Despite the high initial cost, the average Chatham homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar installer in Chatham for a custom quote.
Solar savings over time in Chatham
Year | Return on Investment |
---|---|
1 years | $-10,509 |
3 years | $-8,839 |
5 years | $-7,169 |
7 years | $-5,498 |
9 years | $-3,828 |
11 years | $-2,158 |
13 years | $-488 |
15 years | $1,182 |
17 years | $2,853 |
19 years | $4,523 |
21 years | $6,193 |
23 years | $7,863 |
25 years | $9,533 |
Top Solar Installers in Chatham
Although it's possible to install solar panels by yourself, it takes extra effort and know-how. Because of that, most people choose a solar panel installer. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.
If you’d like to make the switch to solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 Chatham
Factors that Affect Solar Panel Costs in Chatham
For many Chatham homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Chatham, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Chatham, where sunlight isn’t as 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 companies in Chatham have solar loans, which reduce your upfront costs of installing solar.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Chatham, and each can charge varying amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that has the products, warranties and services you’re looking for and also fits within your budget.
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 | $5,007 | 19.0 years |
8 kW | $3.72 | $20,849 | $7,085 | 18.7 years |
10 kW | $3.65 | $25,550 | $9,368 | 18.3 years |
12 kW | $3.58 | $30,047 | $11,855 | 17.9 years |
14 kW | $3.50 | $34,339 | $14,546 | 17.6 years |
16 kW | $3.43 | $38,427 | $17,441 | 17.2 years |
18 kW | $3.36 | $42,311 | $20,541 | 16.8 years |
20 kW | $3.29 | $45,990 | $23,846 | 16.5 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Chatham, NY Solar Cost FAQs
What is the average cost of installing solar panels in Chatham?
The average cost of solar panels in Chatham is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on stuff 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 Chatham?
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 financial benefits from going solar.
Can you sell solar power back to the grid in Chatham?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
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 the average daily sunlight your roof gets. You can take a 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 get 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.