Solar Panel Cost Guide in Fishkill, NY (2023 Update)
- Fishkill Solar Installation Cost: $8,985
- 25-Year Savings: $11,815
- Payback Period: 10.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fishkill
Let's take a look at the average cost of solar panels in Fishkill.
The national average cost of solar panels is $2.66 per watt, but in Fishkill it's 2.95 per watt. To account for the typical energy needs of the average home in Fishkill, most homeowners require a 4.3-kilowatt system. Using the figure above, a solar installation costs around $8,983, or $12,846 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar panels you choose, your solar contractor and more. But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on electricity bills.
To get a free quote from a top solar installation company in Fishkill, you can click the button below.
Solar savings over time in Fishkill
| Year | Return on Investment |
|---|---|
| 1 years | $-7,722 |
| 3 years | $-5,196 |
| 5 years | $-2,669 |
| 7 years | $-143 |
| 9 years | $2,384 |
| 11 years | $4,910 |
| 13 years | $7,436 |
| 15 years | $9,963 |
| 17 years | $12,489 |
| 19 years | $15,016 |
| 21 years | $17,542 |
| 23 years | $20,068 |
| 25 years | $22,595 |
Top Solar Installers in Fishkill
Although you can install solar panels yourself, it takes extra effort and expertise. That's one of the reasons most people choose a solar panel installer. A solar installer can also help save you money over time by providing warranties, repairs and part replacements.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Fishkill:
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 Fishkill
Factors that Affect Solar Panel Costs in Fishkill
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Fishkill: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,950. The brand of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, 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
Many homeowners find the average cost of solar in Fishkill to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. However, the interest on solar loans also adds to your overall costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Fishkill, you'll have many options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Fishkill know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $15,796 | 11.2 years |
| 8 kW | $3.01 | $16,850 | $21,392 | 11.0 years |
| 10 kW | $2.95 | $20,650 | $27,153 | 10.8 years |
| 12 kW | $2.89 | $24,284 | $33,080 | 10.6 years |
| 14 kW | $2.83 | $27,754 | $39,171 | 10.4 years |
| 16 kW | $2.77 | $31,058 | $45,428 | 10.2 years |
| 18 kW | $2.71 | $34,196 | $51,850 | 9.9 years |
| 20 kW | $2.66 | $37,170 | $58,437 | 9.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose considerably impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The kind of solar panel you'd like to install plays a part in which installer you should go with, since different companies provide different panels.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the completion timeline.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
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 Fishkill, NY Solar Cost FAQs
What is the average cost of installing solar panels in Fishkill?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly 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 consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can solar panels significantly reduce my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Fishkill, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate 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?
On average, solar panels can last 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.