Solar Panel Cost Guide in Hector, NY (2023 Update)
- Hector Solar Installation Cost: $9,623
- 25-Year Savings: $5,177
- Payback Period: 16.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hector
Find out what the average cost of solar panels are in Hector.
The average cost of a solar panel system in Hector is 2.95 per watt. The average Hector homeowner needs a 4.7-kilowatt system, which would cost about $9,623 with the federal tax credit, or $13,761 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy consumption and what installation company you go with. Despite the high initial cost, the average Hector homeowner can save about $12,000 on their electricity bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Hector
| Year | Return on Investment |
|---|---|
| 1 years | $-9,031 |
| 3 years | $-7,847 |
| 5 years | $-6,663 |
| 7 years | $-5,479 |
| 9 years | $-4,295 |
| 11 years | $-3,111 |
| 13 years | $-1,927 |
| 15 years | $-743 |
| 17 years | $441 |
| 19 years | $1,625 |
| 21 years | $2,809 |
| 23 years | $3,993 |
| 25 years | $5,177 |
Top Solar Installers in Hector
Although it's possible to install solar panels by yourself, it takes extra time and expertise. Because of that, almost all homeowners choose to go with a solar panel installer. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
If you're searching for a solar company in Hector, the EcoWatch team has put together a list of our top suggestions here:
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 Hector
Factors that Affect Solar Panel Costs in Hector
There are many criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar 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 solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Hector average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Hector, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Hector is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, you'll have many options for solar installers that provide a range of services for different budgets. 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 has the products, warranties and services you're looking for 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 | $6,168 | 16.9 years |
| 8 kW | $3.01 | $16,850 | $8,554 | 16.6 years |
| 10 kW | $2.95 | $20,650 | $11,106 | 16.3 years |
| 12 kW | $2.89 | $24,284 | $13,822 | 15.9 years |
| 14 kW | $2.83 | $27,754 | $16,704 | 15.6 years |
| 16 kW | $2.77 | $31,058 | $19,751 | 15.3 years |
| 18 kW | $2.71 | $34,196 | $22,964 | 15.0 years |
| 20 kW | $2.66 | $37,170 | $26,341 | 14.6 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
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 Hector, NY Solar Cost FAQs
How much does it cost to install solar panels in Hector?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly 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 other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Hector?
You can't get solar panels for free in Hector. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Hector?
Most states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future utility 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?
To figure out how many solar panels you need, you need to know how much energy your home needs 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 house 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.