Solar Panel Cost Guide in New Hempstead, NY (Mar 2023)
- New Hempstead Solar Installation Cost: $8,756
- 25-Year Savings: $18,344
- Payback Period: 8.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in New Hempstead
Find out what the average cost of solar panels are in New Hempstead.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New Hempstead, the average cost of solar panels is 2.95 per watt. The average solar panel system size in New Hempstead is around 4.2 kilowatts, meaning a cost of about $8,756 for a solar installation, or $12,521 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in New Hempstead depending on several factors, such as the kind of solar panels you choose and the solar installer you hire. Even with the large initial cost, the average New Hempstead homeowner can save about $24,000 on their energy bills over 20 years, which is one of the positives of solar.
To get a free estimate from a top solar installation company in New Hempstead, you can click the button below.
Solar savings over time in New Hempstead
| Year | Return on Investment |
|---|---|
| 1 years | $-7,672 |
| 3 years | $-5,504 |
| 5 years | $-3,336 |
| 7 years | $-1,168 |
| 9 years | $1,000 |
| 11 years | $3,168 |
| 13 years | $5,336 |
| 15 years | $7,504 |
| 17 years | $9,672 |
| 19 years | $11,840 |
| 21 years | $14,008 |
| 23 years | $16,176 |
| 25 years | $18,344 |
Top Solar Installers in New Hempstead
Many homeowners opt for a solar installation company since trying to put up solar panels on your own can be hard. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you'd like to go solar but still aren't sure which solar panel company to go with, here are our recommendations for providers near you:
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 New Hempstead
Factors that Affect Solar Panel Costs in New Hempstead
Although the average cost of a solar system in New Hempstead is $8,756, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like New Hempstead, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many New Hempstead homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also adds to your total costs, so it's important to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in New Hempstead, you'll have many options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in New Hempstead know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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 | $25,446 | 8.4 years |
| 8 kW | $3.01 | $16,850 | $34,259 | 8.2 years |
| 10 kW | $2.95 | $20,650 | $43,236 | 8.1 years |
| 12 kW | $2.89 | $24,284 | $52,379 | 7.9 years |
| 14 kW | $2.83 | $27,754 | $61,687 | 7.8 years |
| 16 kW | $2.77 | $31,058 | $71,161 | 7.6 years |
| 18 kW | $2.71 | $34,196 | $80,799 | 7.4 years |
| 20 kW | $2.66 | $37,170 | $90,603 | 7.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: A quality company rises above 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 confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
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 New Hempstead, NY Solar Cost FAQs
What is the average cost of installing solar panels in New Hempstead?
The average cost of solar panels in New Hempstead 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 model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in New Hempstead?
Solar panels aren't free in New Hempstead, 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.
Is going solar worth it?
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 often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.