Solar Panel Cost Guide in Minden, NY (2023 Update)
- Minden Solar Installation Cost: $9,189
- 25-Year Savings: $7,018
- Payback Period: 14.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Minden
See how much it might cost to switch to solar power in Minden.
In Minden, solar panels cost about 2.95 per watt on average. Since a 4.5-kW system is needed to cover the energy costs of a typical home in Minden, the average price of going solar will be about $9,189 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 exact cost of going solar can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what company you go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $14,000 over 20 years on electricity bills.
To get a free estimate from a highly rated solar installer in Minden, you can click the button below.
Solar savings over time in Minden
| Year | Return on Investment |
|---|---|
| 1 years | $-8,541 |
| 3 years | $-7,244 |
| 5 years | $-5,948 |
| 7 years | $-4,651 |
| 9 years | $-3,355 |
| 11 years | $-2,058 |
| 13 years | $-762 |
| 15 years | $535 |
| 17 years | $1,832 |
| 19 years | $3,128 |
| 21 years | $4,425 |
| 23 years | $5,721 |
| 25 years | $7,018 |
Top Solar Installers in Minden
When going solar, many homeowners opt to hire a solar company since handling can be a difficult project. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
There are a number of licensed solar professionals that can help you install your solar panels. 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
See all of the solar companies in Minden
Factors that Affect Solar Panel Costs in Minden
There are a number of factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,950 per kilowatt in Minden. The type of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than 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 into a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Minden, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. Although solar loans make switching to solar energy more accessible for Minden homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Minden, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 decide on the company that has 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 | $8,953 | 14.8 years |
| 8 kW | $3.01 | $16,850 | $12,268 | 14.5 years |
| 10 kW | $2.95 | $20,650 | $15,747 | 14.2 years |
| 12 kW | $2.89 | $24,284 | $19,393 | 13.9 years |
| 14 kW | $2.83 | $27,754 | $23,203 | 13.6 years |
| 16 kW | $2.77 | $31,058 | $27,178 | 13.3 years |
| 18 kW | $2.71 | $34,196 | $31,319 | 13.0 years |
| 20 kW | $2.66 | $37,170 | $35,625 | 12.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Read the contract terms carefully to make sure you understand the total cost, project timeline incentives and warranties.
- Installation Process: Make sure you're on the same page with the installer with 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
EcoWatch's Minden, NY Solar Cost FAQs
What is the average cost of installing solar panels in Minden?
The average cost of solar panels in Minden 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 kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Minden?
A solar panel system isn't free in Minden, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $727.95 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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 get 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.