Solar Panel Cost Guide in Concord, NY (2023 Update)
- Concord Solar Installation Cost: $9,453
- 25-Year Savings: $5,816
- Payback Period: 15.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Concord
Let's take a look at the average cost of solar panels in Concord.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Concord, the average cost of solar panels is 2.95 per watt. The average solar panel system size in Concord is around 4.6 kilowatts, meaning a cost of about $9,458 for a solar installation, or $13,525 before the 30% federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely look different based on the amount of energy your home requires and what company you choose to go with. Even with the significant initial cost, the average Concord homeowner can save around $13,000 on their power bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a vetted solar installer in Concord for a quote for your home.
Solar savings over time in Concord
| Year | Return on Investment |
|---|---|
| 1 years | $-8,627 |
| 3 years | $-6,975 |
| 5 years | $-5,323 |
| 7 years | $-3,671 |
| 9 years | $-2,020 |
| 11 years | $-368 |
| 13 years | $1,284 |
| 15 years | $2,936 |
| 17 years | $4,588 |
| 19 years | $6,240 |
| 21 years | $7,891 |
| 23 years | $9,543 |
| 25 years | $11,195 |
Top Solar Installers in Concord
Trying to put up solar panels on your own can be a challenging task, which is why using a solar installer is a good option for many homeowners. Another benefit of utilizing a solar installer is that they can help you make the most of your return of investment by reducing your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
Working with a licensed solar installer can help your solar project go smoothly. 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 Concord
Factors that Affect Solar Panel Costs in Concord
The cost of installing a solar system in Concord can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Concord, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. The brand and type of equipment you get for your solar system can increase or decrease 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Concord, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $7,128 | 16.1 years |
| 8 kW | $3.01 | $16,850 | $9,834 | 15.8 years |
| 10 kW | $2.95 | $20,650 | $12,705 | 15.5 years |
| 12 kW | $2.89 | $24,284 | $15,742 | 15.2 years |
| 14 kW | $2.83 | $27,754 | $18,944 | 14.9 years |
| 16 kW | $2.77 | $31,058 | $22,311 | 14.5 years |
| 18 kW | $2.71 | $34,196 | $25,843 | 14.2 years |
| 20 kW | $2.66 | $37,170 | $29,540 | 13.9 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- 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 project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, completion timeline incentives and warranties.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
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 Concord, NY Solar Cost FAQs
What is the average cost of installing solar panels in Concord?
The average cost of solar panels in Concord 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Concord?
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 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 savings from going solar.
How will installing solar panels impact my home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Concord?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.