Solar Panel Cost Guide in New Paltz, NY (2023 Update)
- New Paltz Solar Installation Cost: $9,003
- 25-Year Savings: $12,997
- 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 New Paltz
We go over average solar pricing in New Paltz.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New Paltz, the typical cost of a solar system is 2.95 per watt. Since a 4.4-kW system is needed to cover the energy usage of a typical home in New Paltz, the average price of going solar will be about $9,003 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what company you go with. With average savings of about $19,000 on utility bills over 20 years, many homeowners in New Paltz find going solar has a decent ROI.
To receive a free estimate from a pre-vetted solar installation company in New Paltz, you can click the button below.
Solar savings over time in New Paltz
| Year | Return on Investment |
|---|---|
| 1 years | $-8,123 |
| 3 years | $-6,363 |
| 5 years | $-4,603 |
| 7 years | $-2,843 |
| 9 years | $-1,083 |
| 11 years | $677 |
| 13 years | $2,437 |
| 15 years | $4,197 |
| 17 years | $5,957 |
| 19 years | $7,717 |
| 21 years | $9,477 |
| 23 years | $11,237 |
| 25 years | $12,997 |
Top Solar Installers in New Paltz
Many homeowners decide to hire a solar installation company since installing solar panels by yourself can be a labor-intensive endeavor. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can take advantage of and by offering warranties and repairs.
If you're on the hunt for a solar company in New Paltz, we've compiled a list of our top suggestions here:
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 New Paltz
Factors that Affect Solar Panel Costs in New Paltz
The cost of installing a solar system in New Paltz can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
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 crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Plus, solar equipment consists of 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
Many homeowners find the average cost of solar in New Paltz to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can impact how much it costs. New Paltz's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that offers the products, warranties and services you're looking for and also fits within 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 | $17,396 | 10.6 years |
| 8 kW | $3.01 | $16,850 | $23,526 | 10.4 years |
| 10 kW | $2.95 | $20,650 | $29,820 | 10.2 years |
| 12 kW | $2.89 | $24,284 | $36,280 | 10.0 years |
| 14 kW | $2.83 | $27,754 | $42,905 | 9.8 years |
| 16 kW | $2.77 | $31,058 | $49,695 | 9.6 years |
| 18 kW | $2.71 | $34,196 | $56,650 | 9.4 years |
| 20 kW | $2.66 | $37,170 | $63,770 | 9.2 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 brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, completion timeline rebates and warranties.
- 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: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
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 New Paltz, NY Solar Cost FAQs
What is the average cost of installing solar panels in New Paltz?
This is a hard question to answer exactly, 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in New Paltz?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
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 amount 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.