Solar Panel Cost Guide in Hyde Park, NY (2023 Update)
- Hyde Park Solar Installation Cost: $8,983
- 25-Year Savings: $13,018
- Payback Period: 10.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Hyde Park
We break down average solar pricing in Hyde Park.
The average cost of a solar panel system in Hyde Park is 2.95 per watt. The average solar panel system size in Hyde Park is around 4.3 kilowatts, meaning a cost of about $8,983 for a solar installation, or $12,846 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Hyde Park homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $19,000 on power bills over 20 years, many homeowners in Hyde Park find installing solar panels has a decent ROI.
Click the button below to get connected to a vetted solar company in Hyde Park for a custom quote.
Solar savings over time in Hyde Park
| Year | Return on Investment |
|---|---|
| 1 years | $-8,103 |
| 3 years | $-6,343 |
| 5 years | $-4,583 |
| 7 years | $-2,823 |
| 9 years | $-1,063 |
| 11 years | $697 |
| 13 years | $2,458 |
| 15 years | $4,218 |
| 17 years | $5,978 |
| 19 years | $7,738 |
| 21 years | $9,498 |
| 23 years | $11,258 |
| 25 years | $13,018 |
Top Solar Installers in Hyde Park
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make switching to solar power much easier. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.
If you'd like to switch to solar energy but still aren't sure which solar installer to go with, here are our recommendations for providers in Hyde Park:
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 Hyde Park
Factors that Affect Solar Panel Costs in Hyde Park
While the average cost of a solar system in Hyde Park is $8,983, your actual cost may differ. 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
The size of the solar panel system you need, 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 brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Hyde Park offer solar loans, which reduce your upfront costs of installing solar panels. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Hyde Park, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $17,451 | 10.6 years |
| 8 kW | $3.01 | $16,850 | $23,599 | 10.4 years |
| 10 kW | $2.95 | $20,650 | $29,912 | 10.2 years |
| 12 kW | $2.89 | $24,284 | $36,389 | 10.0 years |
| 14 kW | $2.83 | $27,754 | $43,033 | 9.8 years |
| 16 kW | $2.77 | $31,058 | $49,841 | 9.6 years |
| 18 kW | $2.71 | $34,196 | $56,814 | 9.4 years |
| 20 kW | $2.66 | $37,170 | $63,953 | 9.2 years |
How to Save on Solar Panels
The solar company you go with will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
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 Hyde Park, NY Solar Cost FAQs
How much does it cost to install solar panels in Hyde Park?
This is a hard question to answer precisely, because the cost depends on many 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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Hyde Park?
You can't get solar panels for free in Hyde Park. However, you may still be able to afford 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.
Is it worth going solar in Hyde Park?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Hyde Park?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.