Solar Panel Cost Guide in Hoosick, NY (Jan 2023)
- Hoosick Solar Installation Cost: $9,416
- 25-Year Savings: $6,509
- Payback Period: 14.8 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Hoosick
Here's how much it might cost to make the switch to solar in Hoosick.
Although the national average of solar panels is $2.66 per watt, solar panels in Hoosick typically cost about $3. To account for the typical energy needs of the average home in Hoosick, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $9,416, or $6,968 after the federal solar tax credit of 30% is applied.
These figures are just averages, and the cost of going solar for you will most likely vary based on your specific situation and what company you go with. Even with the high initial cost, the average Hoosick homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the positives of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Hoosick
| Year | Return on Investment |
|---|---|
| 1 years | $-8,779 |
| 3 years | $-7,505 |
| 5 years | $-6,231 |
| 7 years | $-4,957 |
| 9 years | $-3,683 |
| 11 years | $-2,409 |
| 13 years | $-1,135 |
| 15 years | $139 |
| 17 years | $1,413 |
| 19 years | $2,687 |
| 21 years | $3,961 |
| 23 years | $5,235 |
| 25 years | $6,509 |
Top Solar Installers in Hoosick
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make your switch to solar power much easier. The expertise that solar companies offer can be useful as well, especially if you don't quite know what kind of solar equipment you need.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Hoosick
Factors that Affect Solar Panel Costs in Hoosick
For many Hoosick homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Hoosick, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,950. The model of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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 for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Hoosick homeowners decide to finance their solar panel systems to make paying for solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Hoosick, and each can charge varying amounts for labor and equipment. Additionally, some companies in Hoosick have more knowledge 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 | $8,059 | 15.4 years |
| 8 kW | $3.01 | $16,850 | $11,075 | 15.1 years |
| 10 kW | $2.95 | $20,650 | $14,257 | 14.8 years |
| 12 kW | $2.89 | $24,284 | $17,604 | 14.5 years |
| 14 kW | $2.83 | $27,754 | $21,116 | 14.2 years |
| 16 kW | $2.77 | $31,058 | $24,793 | 13.9 years |
| 18 kW | $2.71 | $34,196 | $28,636 | 13.6 years |
| 20 kW | $2.66 | $37,170 | $32,644 | 13.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Contract: Before signing a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
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 Hoosick, NY Solar Cost FAQs
What is the average cost of installing solar panels in Hoosick?
This is a tough question to answer exactly, because the cost depends on a few different 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 extra solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, 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 Hoosick?
Leasing solar panels can be an appealing choice, as it typically 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 option if you want to maximize your savings.
How will installing solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Hoosick is currently $149,620, which means you can expect a value of about $6,134 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Hoosick is a fruitful investment.
How many solar panels do I need to power 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.