Solar Panel Cost Guide in Chestnut Ridge, NY (Oct 2022)

  • Chestnut Ridge Solar Installation Cost: $8,756
  • 25-Year Savings: $18,344
  • Payback Period: 8.1 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Chestnut Ridge

Let's take a look at the average cost of solar panels in Chestnut Ridge.

The national average cost of solar panels is $2.66 per watt, but in Chestnut Ridge it's $3 per watt. The average solar panel system size in Chestnut Ridge is around 4.2 kilowatts, meaning a cost of about $8,756 for a solar installation, or $6,479 after the 30% federal solar tax credit is applied.

How much you pay can be higher or lower than the average in Chestnut Ridge depending on several factors, such as the model of solar panels you choose and the solar installer you hire. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically good, with a net average savings of about $24,000 over 20 years on electricity bills.

To see your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Chestnut Ridge

Year Return on Investment
1 years $-7,672
3 years $-5,504
5 years $-3,336
7 years $-1,168
9 years $1,000
11 years $3,168
13 years $5,336
15 years $7,504
17 years $9,672
19 years $11,840
21 years $14,008
23 years $16,176
25 years $18,344

Top Solar Installers in Chestnut Ridge

Although it's possible to install solar panels yourself, it involves extra effort and expertise. Because of that, almost all homeowners choose a solar panel installer. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.

If you'd like to make the switch to solar but still aren't sure which solar installer to go with, here are our recommendations for providers in Chestnut Ridge:

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

Tesla Energy

★★★★★
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 Chestnut Ridge

Factors that Affect Solar Panel Costs in Chestnut Ridge

For many Chestnut Ridge homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Chestnut Ridge, with typical prices between $20,000 to $40,000. There are several factors that considerably 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 a few different factors. One of the notable factors is the system size. Solar power systems with better efficiency or power generation 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. There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that are more efficient tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Chestnut Ridge homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the total 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 principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Chestnut Ridge, and each can charge varying amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies compete with 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 car 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 $25,446 8.4 years
8 kW $3.01 $16,850 $34,259 8.2 years
10 kW $2.95 $20,650 $43,236 8.1 years
12 kW $2.89 $24,284 $52,379 7.9 years
14 kW $2.83 $27,754 $61,687 7.8 years
16 kW $2.77 $31,058 $71,161 7.6 years
18 kW $2.71 $34,196 $80,799 7.4 years
20 kW $2.66 $37,170 $90,603 7.3 years

How to Save on Solar Panels

There are many 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:

  • Contract: Before signing a contract with a solar installer, be sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
  • Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Installation Process: When making the switch to solar energy, it's crucial to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project completion timeline.
  • Solar Panel Brands: Different companies offer various brands and models of panels. If you want a specific brand, make sure the solar company you're considering has it.

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

Tesla Energy

★★★★★
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 Chestnut Ridge, NY Solar Cost FAQs

What is the average cost of installing solar panels in Chestnut Ridge?

This is a tough question to answer precisely, because the cost depends on many 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 extra 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 go with a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in Chestnut Ridge?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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 some different factors like the cost of electricity near you and how much direct sunlight your roof gets.

How long do solar panels last in Chestnut Ridge?

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 after having them for that long or you can continue to use 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.

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