Solar Panel Cost Guide in Esopus, NY (2023 Update)
- Esopus Solar Installation Cost: $9,003
- 25-Year Savings: $12,997
- Payback Period: 10.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Esopus
Let's take a look at the average cost of solar in Esopus.
Although the national average of solar panels is $2.66 per watt, solar panels in Esopus generally cost about 2.95. Since a 4.4-kW system is needed to cover the energy consumption of a typical home in Esopus, the average price of going solar will be about $9,003 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of equipment you want, your solar contractor and more. But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $19,000 over 20 years on utility bills.
You can click the button below to get connected with a top solar installer in Esopus for a quote for your home.
Solar savings over time in Esopus
| Year | Return on Investment |
|---|---|
| 1 years | $-8,123 |
| 3 years | $-6,363 |
| 5 years | $-4,603 |
| 7 years | $-2,843 |
| 9 years | $-1,083 |
| 11 years | $677 |
| 13 years | $2,437 |
| 15 years | $4,197 |
| 17 years | $5,957 |
| 19 years | $7,717 |
| 21 years | $9,477 |
| 23 years | $11,237 |
| 25 years | $12,997 |
Top Solar Installers in Esopus
Trying to install solar panels by yourself can be a dangerous undertaking, which is why hiring a solar installer is a good option for many homeowners. A solar company can also help save you money in the long run by providing warranties, repairs and system component replacements.
If you're on the hunt for a solar installer in Esopus, the EcoWatch team has compiled a list of our top suggestions here:
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
There are a number of criteria that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Esopus, one of the most important 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 total cost can increase by around $2,950 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your total costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you pick will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Esopus have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $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
Since the type of solar panels and the installer you choose greatly affects your costs and your system's durability and efficiency, 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: The kind of solar panel you need to get plays a part in which installer you should opt for, since different companies have access to different panels.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
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?
The average cost of solar panels in Esopus 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Esopus?
Leasing solar panels can be an appealing choice, as it typically 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 get the most savings.
Does Esopus have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation 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 what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.