Solar Panel Cost Guide in Hamlin, NY (2023 Update)
- Hamlin Solar Installation Cost: $8,610
- 25-Year Savings: $7,906
- Payback Period: 13.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hamlin
Let's take a look at the average cost of solar panels in Hamlin.
In Hamlin, solar panels cost about 2.95 per watt on average. Using this figure, a typical 4.2-kW system would cost about $8,611 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Hamlin based on several factors, such as the type of solar panels you choose and the solar contractor you hire. Even with the large upfront cost, the average Hamlin homeowner can save about $15,000 on their energy bills over 20 years, which is one of the positives of solar.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Hamlin
| Year | Return on Investment |
|---|---|
| 1 years | $-7,701 |
| 3 years | $-5,884 |
| 5 years | $-4,067 |
| 7 years | $-2,250 |
| 9 years | $-433 |
| 11 years | $1,385 |
| 13 years | $3,202 |
| 15 years | $5,019 |
| 17 years | $6,836 |
| 19 years | $8,653 |
| 21 years | $10,470 |
| 23 years | $12,287 |
| 25 years | $14,105 |
Top Solar Installers in Hamlin
Installing solar panels yourself can be a difficult undertaking, which is why hiring a solar installer is a good option for many homeowners. Companies can also have access to various kinds of the best solar panels and help you decide which one will be best for your home.
If you'd like to go solar but still aren't certain which solar panel company to go with, here are our recommendations 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 Hamlin
Factors that Affect Solar Panel Costs in Hamlin
The cost of installing a solar system in Hamlin can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,950 per kilowatt in Hamlin. There are a lot of different solar panel brands and the one you choose also affects the cost. Usually, the brands that offer higher efficiency tend to also cost more. Plus, 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
Many homeowners find the average cost of solar in Hamlin to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you select will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. The company's size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $10,881 | 13.6 years |
| 8 kW | $3.01 | $16,850 | $14,838 | 13.3 years |
| 10 kW | $2.95 | $20,650 | $18,961 | 13.0 years |
| 12 kW | $2.89 | $24,284 | $23,249 | 12.8 years |
| 14 kW | $2.83 | $27,754 | $27,702 | 12.5 years |
| 16 kW | $2.77 | $31,058 | $32,320 | 12.3 years |
| 18 kW | $2.71 | $34,196 | $37,103 | 12.0 years |
| 20 kW | $2.66 | $37,170 | $42,052 | 11.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Warranty: If you're worried about the longevity of your solar system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- 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 positive reviews from previous customers.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
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 Hamlin, NY Solar Cost FAQs
How much does it cost to install solar panels in Hamlin?
The average cost of solar panels in Hamlin is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Hamlin?
Leasing solar panels can be an appealing choice, because it often 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 get the most savings.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $792.22 per year.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires 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.