Solar Panel Cost Guide in Highlands, NY (2023 Update)
- Highlands Solar Installation Cost: $8,937
- 25-Year Savings: $16,463
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Highlands
We go over average solar pricing in Highlands.
In Highlands, solar panels cost about 2.95 per watt on average. Since a 4.3-kW system is needed to cover the energy costs of a typical home in Highlands, the average price of going solar will be about $8,941 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what company you go with. Despite the large initial cost, the average Highlands homeowner can save around $22,000 on their electricity bills over 20 years, which is one of the benefits of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Highlands
| Year | Return on Investment |
|---|---|
| 1 years | $-8,852 |
| 3 years | $-8,683 |
| 5 years | $-8,514 |
| 7 years | $-8,344 |
| 9 years | $-8,175 |
| 11 years | $-8,006 |
| 13 years | $-7,836 |
| 15 years | $-7,667 |
| 17 years | $-7,498 |
| 19 years | $-7,328 |
| 21 years | $-7,159 |
| 23 years | $-6,989 |
| 25 years | $-6,820 |
Top Solar Installers in Highlands
When switching to solar energy, many homeowners decide to hire a solar installer since installing solar panels yourself can be a time-consuming project. Also, if you'd like to maximize your investment in solar, opting for a solar company can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives.
Working with a professional solar company can help your solar project go smoothly. 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 Highlands
Factors that Affect Solar Panel Costs in Highlands
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Highlands: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,950. The brand of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Highlands, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger 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 solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating in Highlands, and each can charge varying amounts for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price 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 provides 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 | $3.07 | $12,886 | $22,328 | 9.1 years |
| 8 kW | $3.01 | $16,850 | $30,101 | 9.0 years |
| 10 kW | $2.95 | $20,650 | $38,039 | 8.8 years |
| 12 kW | $2.89 | $24,284 | $46,143 | 8.6 years |
| 14 kW | $2.83 | $27,754 | $54,412 | 8.4 years |
| 16 kW | $2.77 | $31,058 | $62,846 | 8.3 years |
| 18 kW | $2.71 | $34,196 | $71,445 | 8.1 years |
| 20 kW | $2.66 | $37,170 | $80,209 | 7.9 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose greatly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
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 Highlands, NY Solar Cost FAQs
How much does it cost to install solar panels in Highlands?
This is a tough question to answer exactly, because the cost depends on a variety of 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 higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Highlands?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
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 Highlands is currently $328,421, which means you can look forward to a value of about $13,465 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Highlands is a worthwhile investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.