Solar Panel Cost Guide in Hamilton, NY (Mar 2023)
- Hamilton Solar Installation Cost: $9,540
- 25-Year Savings: $5,260
- Payback Period: 16.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Hamilton
Find out how much it might cost to install solar panels in Hamilton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hamilton, the typical cost of a solar system is 2.95 per watt. Because a 4.6-kW system is needed to cover the energy consumption of a typical home in Hamilton, the average price of going solar will be about $9,540 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and your own solar costs will most likely look different based on your energy needs and what company you want to go with. Despite the large initial cost, the average Hamilton homeowner can save about $12,000 on their electricity bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a vetted solar company in Hamilton for a quote for your home.
Solar savings over time in Hamilton
| Year | Return on Investment |
|---|---|
| 1 years | $-8,948 |
| 3 years | $-7,764 |
| 5 years | $-6,580 |
| 7 years | $-5,396 |
| 9 years | $-4,212 |
| 11 years | $-3,028 |
| 13 years | $-1,844 |
| 15 years | $-660 |
| 17 years | $524 |
| 19 years | $1,708 |
| 21 years | $2,892 |
| 23 years | $4,076 |
| 25 years | $5,260 |
Top Solar Installers in Hamilton
Trying to put up solar panels by yourself can be a difficult task, which is why using a solar installation company is a good option for many homeowners. Plus, if you'd like to maximize your investment in solar energy, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives.
If you'd like to switch to solar energy but still aren't certain which solar installer to go with, here are our suggestions for providers 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 Hamilton
Factors that Affect Solar Panel Costs in Hamilton
For many Hamilton homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Hamilton, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment goes beyond 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 researching a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Hamilton to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. Although solar loans make going solar more accessible for Hamilton homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Hamilton, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $6,350 | 16.7 years |
| 8 kW | $3.01 | $16,850 | $8,797 | 16.4 years |
| 10 kW | $2.95 | $20,650 | $11,409 | 16.1 years |
| 12 kW | $2.89 | $24,284 | $14,186 | 15.8 years |
| 14 kW | $2.83 | $27,754 | $17,129 | 15.5 years |
| 16 kW | $2.77 | $31,058 | $20,236 | 15.1 years |
| 18 kW | $2.71 | $34,196 | $23,509 | 14.8 years |
| 20 kW | $2.66 | $37,170 | $26,947 | 14.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies have different brands and types of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Warranty: If you're worried about the durability of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Contract: Before you sign a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions 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
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 Hamilton, NY Solar Cost FAQs
How much does it cost to install solar panels in Hamilton?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Does Hamilton have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.