Solar Panel Cost Guide in Halfmoon, NY (2023 Update)
- Halfmoon Solar Installation Cost: $9,251
- 25-Year Savings: $6,252
- Payback Period: 14.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Halfmoon
Find out how much it might cost to go solar in Halfmoon.
Although the national average of solar panels is $2.66 per watt, solar panels in Halfmoon generally cost around 2.95. The average Halfmoon homeowner needs a 4.5-kilowatt system, which would cost about $9,251 with the federal tax credit, or $13,229 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $13,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar company in Halfmoon that can help you get a more accurate cost estimate for your home.
Solar savings over time in Halfmoon
| Year | Return on Investment |
|---|---|
| 1 years | $-8,631 |
| 3 years | $-7,391 |
| 5 years | $-6,151 |
| 7 years | $-4,910 |
| 9 years | $-3,670 |
| 11 years | $-2,430 |
| 13 years | $-1,189 |
| 15 years | $51 |
| 17 years | $1,291 |
| 19 years | $2,531 |
| 21 years | $3,772 |
| 23 years | $5,012 |
| 25 years | $6,252 |
Top Solar Installers in Halfmoon
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make swapping over to solar power much easier. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
If you'd like to make the switch to solar but still aren't certain which solar company 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 Halfmoon
Factors that Affect Solar Panel Costs in Halfmoon
For many Halfmoon homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Halfmoon, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,950. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Halfmoon, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Halfmoon homeowners opt to finance their solar panel systems to make going solar more affordable. Even though solar loans make switching to solar energy more accessible for Halfmoon homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies in Halfmoon, and each can charge varying amounts for labor and equipment. Additionally, some companies in Halfmoon have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $7,859 | 15.5 years |
| 8 kW | $3.01 | $16,850 | $10,809 | 15.2 years |
| 10 kW | $2.95 | $20,650 | $13,925 | 14.9 years |
| 12 kW | $2.89 | $24,284 | $17,205 | 14.6 years |
| 14 kW | $2.83 | $27,754 | $20,651 | 14.3 years |
| 16 kW | $2.77 | $31,058 | $24,262 | 14.0 years |
| 18 kW | $2.71 | $34,196 | $28,038 | 13.7 years |
| 20 kW | $2.66 | $37,170 | $31,980 | 13.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When making the switch to solar energy, it's necessary to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project completion timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Contract: Before you sign a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers 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 Halfmoon, NY Solar Cost FAQs
How much does it cost to install solar panels in Halfmoon?
This is a tough 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, 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 Halfmoon?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback 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 way to go if you want to maximize your savings.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Halfmoon is currently $264,522, so you can look forward to a value of about $10,845 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Halfmoon is a rewarding investment.
How long do solar panels last in Halfmoon?
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.