Solar Panel Cost Guide in Hamburg, NY (2023 Update)
- Hamburg Solar Installation Cost: $9,453
- 25-Year Savings: $6,227
- Payback Period: 15.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hamburg
Find out how much it might cost to make the switch to solar in Hamburg.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hamburg, the average cost of a solar system is 2.95 per watt. Since a 4.6-kW system is needed to cover the energy costs of a typical home in Hamburg, the average price of going solar will be about $9,458 after claiming the federal solar tax credit of 30%.
The true cost of your system can go above or below the average in Hamburg depending on a variety of factors, such as the kind of solar panels you choose and the solar company you hire. Many homeowners find going solar is a sound investment. The average homeowner in Hamburg can save around $13,000 on their power bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Hamburg
| Year | Return on Investment |
|---|---|
| 1 years | $-8,599 |
| 3 years | $-6,892 |
| 5 years | $-5,186 |
| 7 years | $-3,479 |
| 9 years | $-1,772 |
| 11 years | $-65 |
| 13 years | $1,642 |
| 15 years | $3,349 |
| 17 years | $5,056 |
| 19 years | $6,763 |
| 21 years | $8,470 |
| 23 years | $10,177 |
| 25 years | $11,884 |
Top Solar Installers in Hamburg
Many homeowners choose to use a solar installation company since trying to install solar panels by yourself can be a lot of work. Companies can also have access to a large variety of the best solar panels and help you pick which one will be best for your family.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some 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 Hamburg
Factors that Affect Solar Panel Costs in Hamburg
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Hamburg: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,950 per kilowatt in Hamburg. The model of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is 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 falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Hamburg to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. While solar loans make adopting solar energy more accessible for Hamburg homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Hamburg is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for instance, you'll have many options for solar installers that offer a range of services at different costs. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that offers the products, warranties and services you want and also is within your budget.
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 | $7,665 | 15.7 years |
| 8 kW | $3.01 | $16,850 | $10,551 | 15.4 years |
| 10 kW | $2.95 | $20,650 | $13,602 | 15.1 years |
| 12 kW | $2.89 | $24,284 | $16,818 | 14.8 years |
| 14 kW | $2.83 | $27,754 | $20,199 | 14.5 years |
| 16 kW | $2.77 | $31,058 | $23,745 | 14.2 years |
| 18 kW | $2.71 | $34,196 | $27,457 | 13.9 years |
| 20 kW | $2.66 | $37,170 | $31,333 | 13.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Solar Panel Brands: Different companies will carry various brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Review the contract terms carefully to make sure you understand the total cost, project timeline rebates and warranties.
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 Hamburg, NY Solar Cost FAQs
How much does it cost to install solar panels in Hamburg?
This is a tough question to answer precisely, because the cost depends on many 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 other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Hamburg?
Leasing solar panels can be an appealing 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.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Hamburg, 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 contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Hamburg?
Although 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 decide to replace them once you've had 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.