Solar Panel Cost Guide in Hastings, NY (2023 Update)
- Hastings Solar Installation Cost: $9,461
- 25-Year Savings: $6,746
- Payback Period: 14.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hastings
Find out what the average cost of a solar system is in Hastings.
While the national average of solar panels is $2.66 per watt, solar panels in Hastings typically cost about 2.95. The average solar panel system size in Hastings is around 4.6 kilowatts, meaning a cost of about $9,458 for a solar installation, or $13,525 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Hastings homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $13,000 over 20 years on electricity bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Hastings
| Year | Return on Investment |
|---|---|
| 1 years | $-9,407 |
| 3 years | $-9,299 |
| 5 years | $-9,191 |
| 7 years | $-9,083 |
| 9 years | $-8,975 |
| 11 years | $-8,867 |
| 13 years | $-8,759 |
| 15 years | $-8,651 |
| 17 years | $-8,543 |
| 19 years | $-8,435 |
| 21 years | $-8,327 |
| 23 years | $-8,218 |
| 25 years | $-8,110 |
Top Solar Installers in Hastings
Trying to install solar panels by yourself can be a time-consuming undertaking, which is why using a solar installer is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Hastings
Factors that Affect Solar Panel Costs in Hastings
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Hastings: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most significant 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 energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,950 per kilowatt in Hastings. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Hastings to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Hastings, you'll have many options to choose from, but each comes at different price points for labor and equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find 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 | $8,339 | 15.2 years |
| 8 kW | $3.01 | $16,850 | $11,449 | 14.9 years |
| 10 kW | $2.95 | $20,650 | $14,724 | 14.6 years |
| 12 kW | $2.89 | $24,284 | $18,164 | 14.3 years |
| 14 kW | $2.83 | $27,754 | $21,770 | 14.0 years |
| 16 kW | $2.77 | $31,058 | $25,541 | 13.7 years |
| 18 kW | $2.71 | $34,196 | $29,477 | 13.4 years |
| 20 kW | $2.66 | $37,170 | $33,578 | 13.1 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you're worried about the endurance of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which installer you should go with, since different companies have different panels.
- Contract: Before signing a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Hastings, NY Solar Cost FAQs
What is the average cost of installing solar panels in Hastings?
This is a hard question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $707.48 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having 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.