Solar Panel Cost Guide in Gorham, NY (2023 Update)
- Gorham Solar Installation Cost: $9,520
- 25-Year Savings: $6,344
- Payback Period: 15.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Gorham
Find out how much it might cost to make the switch to solar in Gorham.
The national average cost of solar panels is $2.66 per watt, but in Gorham it's 2.95 per watt. Using this figure, a typical 4.6-kW system would cost about $9,520 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar system you want to get, your solar contractor and more. But, once you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $13,000 over 20 years on energy bills.
To receive a free quote from a vetted solar installer in Gorham, you can click the button below.
Solar savings over time in Gorham
| Year | Return on Investment |
|---|---|
| 1 years | $-8,885 |
| 3 years | $-7,616 |
| 5 years | $-6,347 |
| 7 years | $-5,078 |
| 9 years | $-3,809 |
| 11 years | $-2,540 |
| 13 years | $-1,271 |
| 15 years | $-2 |
| 17 years | $1,267 |
| 19 years | $2,536 |
| 21 years | $3,805 |
| 23 years | $5,075 |
| 25 years | $6,344 |
Top Solar Installers in Gorham
Many homeowners choose to use a solar panel company since installing solar panels on your own can be challenging. Also, if you'd like to maximize your investment in solar energy, using a solar company can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Gorham
Factors that Affect Solar Panel Costs in Gorham
The cost of installing a solar system in Gorham can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,950. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Gorham provide solar loans, which reduce the initial cost of installing a solar system. 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Gorham is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services at different price points. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have 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 | $7,763 | 15.6 years |
| 8 kW | $3.01 | $16,850 | $10,682 | 15.3 years |
| 10 kW | $2.95 | $20,650 | $13,765 | 15.0 years |
| 12 kW | $2.89 | $24,284 | $17,014 | 14.7 years |
| 14 kW | $2.83 | $27,754 | $20,427 | 14.4 years |
| 16 kW | $2.77 | $31,058 | $24,006 | 14.1 years |
| 18 kW | $2.71 | $34,196 | $27,751 | 13.8 years |
| 20 kW | $2.66 | $37,170 | $31,660 | 13.5 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 durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Different companies have different brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Warranty: If you care about the durability of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Gorham, NY Solar Cost FAQs
What is the average cost of installing solar panels in Gorham?
This is a tough question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Gorham?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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.
Does Gorham have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.