Solar Panel Cost Guide in Esopus, NY (2023 Update)
- Esopus Solar Installation Cost: $9,002
- 25-Year Savings: $12,999
- Payback Period: 10.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Esopus
Let's have a look at the average cost of solar in Esopus.
The average cost of a solar system in Esopus is 2.95 per watt. To cover the typical energy usage of the average home in Esopus, most homeowners require a 4.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,003, or $12,874 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Esopus
| Year | Return on Investment |
|---|---|
| 1 years | $-7,738 |
| 3 years | $-5,212 |
| 5 years | $-2,686 |
| 7 years | $-159 |
| 9 years | $2,367 |
| 11 years | $4,894 |
| 13 years | $7,420 |
| 15 years | $9,946 |
| 17 years | $12,473 |
| 19 years | $14,999 |
| 21 years | $17,526 |
| 23 years | $20,052 |
| 25 years | $22,578 |
Top Solar Installers in Esopus
When switching to solar energy, many homeowners choose to use a solar installation company since installing a solar system yourself can be a time-consuming project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our suggestions for providers 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 Esopus
Factors that Affect Solar Panel Costs in Esopus
Although the average cost of a solar system in Esopus is $9,003, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy 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 pay around $2,950 per kilowatt in Esopus. The type of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Esopus provide solar loans, which reduce your upfront costs of installing solar. You'll have to consider the long-term cost of financing options, including the amount of 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. The company's size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $17,396 | 10.6 years |
| 8 kW | $3.01 | $16,850 | $23,526 | 10.4 years |
| 10 kW | $2.95 | $20,650 | $29,820 | 10.2 years |
| 12 kW | $2.89 | $24,284 | $36,280 | 10.0 years |
| 14 kW | $2.83 | $27,754 | $42,905 | 9.8 years |
| 16 kW | $2.77 | $31,058 | $49,695 | 9.6 years |
| 18 kW | $2.71 | $34,196 | $56,650 | 9.4 years |
| 20 kW | $2.66 | $37,170 | $63,770 | 9.2 years |
How to Save on Solar Panels
There are numerous companies available in Esopus, 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: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which model 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 ask for their list of options before deciding.
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 Esopus, NY Solar Cost FAQs
What is the average cost of installing solar panels in Esopus?
This is a tough 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Esopus?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on electricity bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Esopus, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to 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.