Solar Panel Cost Guide in East Hampton, NY (2023 Update)
- East Hampton Solar Installation Cost: $8,026
- 25-Year Savings: $14,345
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in East Hampton
Let's take a look at the average cost of solar in East Hampton.
The national average cost of solar panels is $2.66 per watt, but in East Hampton it's 2.95 per watt. The average East Hampton homeowner needs a 3.9-kilowatt system, which would cost about $8,033 with the federal tax credit, or $11,487 before the 30% tax credit is applied.
These figures are just estimates, and the cost of going solar for you may vary based on your energy needs and what company you choose to go with. Even with the high upfront cost, the average East Hampton homeowner can save about $22,000 on their power bills over 20 years, which is one of the advantages of solar.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in East Hampton
| Year | Return on Investment |
|---|---|
| 1 years | $-7,951 |
| 3 years | $-7,802 |
| 5 years | $-7,653 |
| 7 years | $-7,504 |
| 9 years | $-7,355 |
| 11 years | $-7,206 |
| 13 years | $-7,056 |
| 15 years | $-6,907 |
| 17 years | $-6,758 |
| 19 years | $-6,609 |
| 21 years | $-6,460 |
| 23 years | $-6,311 |
| 25 years | $-6,162 |
Top Solar Installers in East Hampton
Trying to install solar panels yourself can be a stressful project, which is why using a solar installer is a good option for many homeowners. Plus, if you'd like to maximize your investment in solar, using a solar company can help with that as well. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
If you'd like to start using solar energy but still aren't certain 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
See all of the solar companies in East Hampton
Factors that Affect Solar Panel Costs in East Hampton
Even though the average cost of a solar system in East Hampton is $8,033, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,950 per kilowatt in East Hampton. The model of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Most solar companies in East Hampton have solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact your pricing. East Hampton's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 | $21,650 | 9.3 years |
| 8 kW | $3.01 | $16,850 | $29,197 | 9.1 years |
| 10 kW | $2.95 | $20,650 | $36,909 | 9.0 years |
| 12 kW | $2.89 | $24,284 | $44,786 | 8.8 years |
| 14 kW | $2.83 | $27,754 | $52,829 | 8.6 years |
| 16 kW | $2.77 | $31,058 | $61,037 | 8.4 years |
| 18 kW | $2.71 | $34,196 | $69,410 | 8.3 years |
| 20 kW | $2.66 | $37,170 | $77,948 | 8.1 years |
How to Save on Solar Panels
There are many companies available in East Hampton, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Contract: Review the contract terms thoroughly to make sure you understand the overall cost, project timeline incentives and warranties.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
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 East Hampton, NY Solar Cost FAQs
How much does it cost to install solar panels in East Hampton?
This is a difficult question to answer exactly, 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 cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in East Hampton?
Leasing solar panels can be an option if you can't afford 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 bang for your buck from going solar.
Do solar panels increase your home value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't go for 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 solar panels."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 install between 20 and 35 panels to cover 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.