Solar Panel Cost Guide in Chatham, NY (2023 Update)
- Chatham Solar Installation Cost: $9,169
- 25-Year Savings: $6,335
- Payback Period: 14.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Chatham
Find out what the average cost of a solar system is in Chatham.
The national average cost of solar panels is $2.66 per watt, but in Chatham it's 2.95 per watt. Using this figure, a typical 4.4-kW system would cost about $9,169 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Chatham based on several factors, such as the model of solar panels you choose and the solar company you hire. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $13,000 over 20 years on electricity bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Chatham
| Year | Return on Investment |
|---|---|
| 1 years | $-8,548 |
| 3 years | $-7,308 |
| 5 years | $-6,068 |
| 7 years | $-4,828 |
| 9 years | $-3,587 |
| 11 years | $-2,347 |
| 13 years | $-1,107 |
| 15 years | $134 |
| 17 years | $1,374 |
| 19 years | $2,614 |
| 21 years | $3,854 |
| 23 years | $5,095 |
| 25 years | $6,335 |
Top Solar Installers in Chatham
Installing solar panels on your own can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. The payback period of solar panels will vary based on factors like your location and energy usage, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
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 nearby:
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 Chatham
Factors that Affect Solar Panel Costs in Chatham
The cost of installing a solar system in Chatham can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Chatham average.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable route because they decrease your upfront costs and let you pay for your system over five to seven years on average. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Chatham, and each can charge varying amounts for labor and equipment. Additionally, some companies in Chatham have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $8,065 | 15.4 years |
| 8 kW | $3.01 | $16,850 | $11,084 | 15.1 years |
| 10 kW | $2.95 | $20,650 | $14,268 | 14.8 years |
| 12 kW | $2.89 | $24,284 | $17,617 | 14.5 years |
| 14 kW | $2.83 | $27,754 | $21,131 | 14.2 years |
| 16 kW | $2.77 | $31,058 | $24,811 | 13.9 years |
| 18 kW | $2.71 | $34,196 | $28,656 | 13.6 years |
| 20 kW | $2.66 | $37,170 | $32,666 | 13.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
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 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 $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Chatham?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.