Solar Panel Cost Guide in Hempstead, NY (2024 Update)

  • Hempstead Solar Installation Cost: $9,833
  • 25-Year Savings: $16,201
  • Payback Period: 10.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Hempstead

Let’s take a look at the average cost of solar in Hempstead.

The national average cost of solar panels is $2.66 per watt, but in Hempstead it’s 4 per watt.Because a 3.8-kW system is needed to cover the energy usage of a typical home in Hempstead, the average price of going solar will be about $9,833 after claiming the federal solar tax credit of 0.

Keep in mind that the figures above are only estimates based on the average energy use of Hempstead homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Hempstead can save about $24,000 on their electricity bills over 20 years.

For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Hempstead

Year Return on Investment
1 years $-8,277
3 years $-5,167
5 years $-2,056
7 years $1,054
9 years $4,165
11 years $7,276
13 years $10,386
15 years $13,497
17 years $16,607
19 years $19,718
21 years $22,829
23 years $25,939
25 years $29,050

Top Solar Installers in Hempstead

Many homeowners choose to hire a solar panel company since installing solar panels yourself can be a labor-intensive endeavor. Solar warranties and repairs are typically included in the cost of installation when you opt for a solar contractor too, which can save you more money after your upfront investment.

You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Hempstead

Factors that Affect Solar Panel Costs in Hempstead

The cost of installing a solar system in Hempstead can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment

When it comes to estimating the price of solar panels in Hempstead, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by about $3,650 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Hempstead, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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

Many homeowners find the average cost of solar in Hempstead to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.However, the interest on solar loans also increases your overall costs, so it’s vital to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

The solar company you go with to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies operating in Hempstead, and each can charge different amounts 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 choose a company that offers the products, warranties and services you want and also fit into 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 $3.80 $15,943 $21,705 10.6 years
8 kW $3.72 $20,849 $29,349 10.4 years
10 kW $3.65 $25,550 $37,198 10.2 years
12 kW $3.58 $30,047 $45,251 10.0 years
14 kW $3.50 $34,339 $53,508 9.8 years
16 kW $3.43 $38,427 $61,969 9.6 years
18 kW $3.36 $42,311 $70,635 9.4 years
20 kW $3.29 $45,990 $79,506 9.2 years

How to Save on Solar Panels

The solar panel company you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:

  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
  • Solar Panel Brands: The model of solar panel you’d like plays a role in which installer you should opt for, since different companies have different panels.
  • Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
  • Contract: Read the contract terms closely to make sure you understand the overall cost, project completion timeline rebates and warranties.

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Hempstead, NY Solar Cost FAQs

What is the average cost of installing solar panels in Hempstead?

This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

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 secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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.

Do solar panels increase your home value?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Hempstead is currently $516,270, so you can look forward to a value of about $21,167 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Hempstead is a worthwhile investment.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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 install between 20 and 35 panels to account for 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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