Solar Panel Cost Guide in Hempstead, NY (Aug 2022)

  • Hempstead Solar Installation Cost: $8,405
  • 25-Year Savings: $15,743
  • Payback Period: 8.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Hempstead

See how much it might cost to install solar panels in Hempstead.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Hempstead, the average cost of a solar system is $3 per watt. Since a 3.9-kW system is needed to cover the energy costs of a typical home in Hempstead, the average price of going solar will be about $8,405 before claiming the federal solar tax credit.

Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of solar system you choose, your solar contractor and more. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Hempstead can save around $24,000 on their power bills over 20 years.

You can click the button below to get connected with a pre-vetted solar installer in Hempstead that can help you get a more accurate cost estimate for your home.

Solar savings over time in Hempstead

Year Return on Investment
1 years $-7,439
3 years $-5,507
5 years $-3,575
7 years $-1,643
9 years $289
11 years $2,220
13 years $4,152
15 years $6,084
17 years $8,016
19 years $9,948
21 years $11,880
23 years $13,811
25 years $15,743

Top Solar Installers in Hempstead

Many homeowners decide to hire a solar panel installer since trying to install solar panels yourself can be time-consuming. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.

If you'd like to start using solar energy but still aren't certain which solar installer to go with, here are our suggestions for providers in Hempstead:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Hempstead

Factors that Affect Solar Panel Costs in Hempstead

Although the average cost of solar panels in Hempstead is $8,405, your final cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.

Solar Equipment Size

System size is one of the largest factors that determines the overall cost of going solar. Because of that, 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 and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Most solar companies in Hempstead provide solar loans, which reduce the initial cost of installing solar. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

The last significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Hempstead, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. You may come across national solar installers that have lower prices due to 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 larger 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 $13,622 $24,027 9.0 years
8 kW $3.01 $17,813 $32,385 8.9 years
10 kW $2.95 $21,830 $40,918 8.7 years
12 kW $2.89 $25,672 $49,625 8.5 years
14 kW $2.83 $29,340 $58,507 8.3 years
16 kW $2.77 $32,832 $67,564 8.2 years
18 kW $2.71 $36,150 $76,796 8.0 years
20 kW $2.66 $39,294 $86,202 7.8 years

Solar Incentives in Hempstead

Name Residential Solar Tax Credit
Incentive Amount 25% for solar-electric (PV) and solar-thermal systems; for third-party owned systems this is in reference to the aggregate amount owed under the contract rather than the amount owed in any single year
Incentive Max $5,000 for solar-energy systems
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Local Option - Real Property Tax Exemption for Green Buildings
Incentive Amount Upon local adoption, 20% - 100% of real property taxes owed; varies by year and certification level
Website Visit here
More Info Click here

Name NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business)
Incentive Amount Incentive rates step down over time as MW goals are met. Incentive rates as of 11/27/2019 are:

Residential:
Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.30/W
Upstate Region: $0.35/W
Low-to-Moderate income customers: $0.80/W (up to 10 kW)

Small Commercial (Non-Residential):Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.60/W
Up State Region: $0.45/W

Multifamily Affordable Housing Adder: additional $0.40/W (up to 50 kW)
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR
Website Visit here
More Info Click here

Name NY Green Bank
Website Visit here
More Info Click here

Name Local Option - Solar Sales Tax Exemption
Incentive Amount Upon local authorization, 100% exemption from local sales tax
More Info Click here

Name Solar Sales Tax Exemption
Incentive Amount 100% exemption from state sales tax
Website Visit here
More Info Click here

Name Energy Conservation Improvements Property Tax Exemption
Incentive Amount 100% of the value added to the residence by the improvements
Website Visit here
More Info Click here

Name NY-Sun Loan Program
Website Visit here
More Info Click here

Name Local Option - Solar, Wind & Biomass Energy Systems Exemption
Incentive Amount 100% exemption for 15 years (unless local jurisdiction has opted out)
Website Visit here
More Info Click here

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 choosing a company can be difficult, we have some tips to help you, such as:

  • Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
  • Contract: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
  • Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Hempstead, NY Solar Cost FAQs

How much does it cost to install solar panels in Hempstead?

The average cost of solar panels in Hempstead 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Hempstead?

Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Can solar panels completely eradicate my energy bills?

Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $1,254.96 per year.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.

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.

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