Solar Panel Cost Guide in Menands, NY (Mar 2023)
- Menands Solar Installation Cost: $9,189
- 25-Year Savings: $6,314
- Payback Period: 14.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Menands
See how much it might cost to switch to solar power in Menands.
The average cost of a solar panel system in Menands is 2.95 per watt. The average Menands homeowner needs a 4.5-kilowatt system, which would cost about $9,189 with the federal tax credit, or $13,140 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar system you choose, your solar contractor and more. Many homeowners find going solar is a sound investment. The average homeowner in Menands can save about $13,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Menands
| Year | Return on Investment |
|---|---|
| 1 years | $-8,569 |
| 3 years | $-7,329 |
| 5 years | $-6,089 |
| 7 years | $-4,848 |
| 9 years | $-3,608 |
| 11 years | $-2,368 |
| 13 years | $-1,127 |
| 15 years | $113 |
| 17 years | $1,353 |
| 19 years | $2,593 |
| 21 years | $3,834 |
| 23 years | $5,074 |
| 25 years | $6,314 |
Top Solar Installers in Menands
Although it's possible to install solar panels yourself, it requires extra labor and knowledge. For that reason, most homeowners choose to go with a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
Working with a professional solar installer 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
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 Menands
Factors that Affect Solar Panel Costs in Menands
Even though the average cost of a solar system in Menands is $9,189, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar panel system you need for your home, 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 kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Menands average.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the amount of 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 getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can influence the cost. Menands' solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Menands have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $8,001 | 15.4 years |
| 8 kW | $3.01 | $16,850 | $10,998 | 15.1 years |
| 10 kW | $2.95 | $20,650 | $14,161 | 14.8 years |
| 12 kW | $2.89 | $24,284 | $17,488 | 14.5 years |
| 14 kW | $2.83 | $27,754 | $20,981 | 14.2 years |
| 16 kW | $2.77 | $31,058 | $24,639 | 13.9 years |
| 18 kW | $2.71 | $34,196 | $28,463 | 13.6 years |
| 20 kW | $2.66 | $37,170 | $32,451 | 13.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 expectations you should have about the installation process.
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on 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
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 Menands, NY Solar Cost FAQs
What is the average cost of installing solar panels in Menands?
The average cost of solar panels in Menands 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 certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Menands?
Leasing solar panels can be an appealing choice, because 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 get the most savings.
Can solar panels significantly reduce my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Menands, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.