Solar Panel Cost Guide in Hastings On Hudson, NY (2023 Update)
- Hastings On Hudson Solar Installation Cost: $8,652
- 25-Year Savings: $24,687
- Payback Period: 6.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hastings On Hudson
Find out what the average cost of a solar system is in Hastings On Hudson.
Although the national average of solar panels is $2.66 per watt, solar panels in Hastings On Hudson typically cost about 2.95. To cover the typical energy usage of the average home in Hastings On Hudson, most homeowners require a 4.2-kilowatt system. Using the figure above, a solar installation costs about $8,652, or $12,372 before the federal solar tax credit of 30% is applied.
The true cost of your system can be above or below the average in Hastings On Hudson based on a few factors, such as the model of solar panels you choose and the solar installer you hire. Even with the high initial cost, the average Hastings On Hudson homeowner can save about $30,000 on their energy bills over 20 years, which is one of the benefits of solar.
To get a free estimate from a vetted solar installation company in Hastings On Hudson, you can click the button below.
Solar savings over time in Hastings On Hudson
| Year | Return on Investment |
|---|---|
| 1 years | $-7,319 |
| 3 years | $-4,652 |
| 5 years | $-1,984 |
| 7 years | $683 |
| 9 years | $3,350 |
| 11 years | $6,017 |
| 13 years | $8,684 |
| 15 years | $11,351 |
| 17 years | $14,019 |
| 19 years | $16,686 |
| 21 years | $19,353 |
| 23 years | $22,020 |
| 25 years | $24,687 |
Top Solar Installers in Hastings On Hudson
Although you can install solar panels yourself, it requires extra time and expertise. That's one of the reasons most homeowners choose a solar panel installer. Plus, if you're unsure what kind of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar installer 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 On Hudson
Factors that Affect Solar Panel Costs in Hastings On Hudson
Though the average cost of a solar system in Hastings On Hudson is $8,652, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
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 spend around $2,950 per kilowatt in Hastings On Hudson. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Hastings On Hudson, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Hastings On Hudson, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your all-in costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can affect the cost. Hastings On Hudson's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Hastings On Hudson know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $34,898 | 6.7 years |
| 8 kW | $3.01 | $16,850 | $46,861 | 6.6 years |
| 10 kW | $2.95 | $20,650 | $58,989 | 6.5 years |
| 12 kW | $2.89 | $24,284 | $71,283 | 6.4 years |
| 14 kW | $2.83 | $27,754 | $83,741 | 6.2 years |
| 16 kW | $2.77 | $31,058 | $96,365 | 6.1 years |
| 18 kW | $2.71 | $34,196 | $109,154 | 6.0 years |
| 20 kW | $2.66 | $37,170 | $122,108 | 5.8 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Hastings On Hudson, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of 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: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly 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
EcoWatch's Hastings On Hudson, NY Solar Cost FAQs
What is the average cost of installing solar panels in Hastings On Hudson?
This is a difficult question to answer precisely, because the cost depends on many 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 cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $1,592.78 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.