Solar Panel Cost Guide in Hamburg, NY (Mar 2023)
- Hamburg Solar Installation Cost: $9,458
- 25-Year Savings: $6,222
- Payback Period: 15.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hamburg
Find out what the average cost of solar panels are in Hamburg.
The average cost of a solar system in Hamburg is 2.95 per watt. The average Hamburg homeowner needs a 4.6-kilowatt system, which would cost about $9,458 with the federal tax credit, or $13,525 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 system you want to get, your solar contractor and more. With typical savings of about $13,000 on power bills over 20 years, many homeowners in Hamburg find investing in solar can pay off big.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Hamburg
| Year | Return on Investment |
|---|---|
| 1 years | $-8,831 |
| 3 years | $-7,576 |
| 5 years | $-6,322 |
| 7 years | $-5,067 |
| 9 years | $-3,813 |
| 11 years | $-2,559 |
| 13 years | $-1,304 |
| 15 years | $-50 |
| 17 years | $1,204 |
| 19 years | $2,459 |
| 21 years | $3,713 |
| 23 years | $4,967 |
| 25 years | $6,222 |
Top Solar Installers in Hamburg
Although you can install solar panels on your own, it takes extra effort and expertise. That's one of the reasons most homeowners choose to go with a solar panel installer. The expertise that solar installers offer can be valuable as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Hamburg
Factors that Affect Solar Panel Costs in Hamburg
Cost is often one of the most important factors for homeowners who want 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 cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need, 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 nearly $2,950. The type of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think 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 looking into a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can play a role in determining the cost. Hamburg's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to 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 | $7,665 | 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
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
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 Hamburg, NY Solar Cost FAQs
How much does it cost to install solar panels in Hamburg?
The average cost of solar panels in Hamburg is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Hamburg?
Leasing solar panels can be an attractive choice, because 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 way to go if you want to maximize your savings.
Does Hamburg have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system generates 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.