Solar Panel Cost Guide in Peekskill, NY (2023 Update)
- Peekskill Solar Installation Cost: $8,645
- 25-Year Savings: $24,695
- Payback Period: 6.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Peekskill
Find out what the average cost of solar panel installation is in Peekskill.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Peekskill, the typical cost of solar panels is 2.95 per watt. Since a 4.2-kW system is needed to cover the energy costs of a typical home in Peekskill, the average price of going solar will be about $8,652 after claiming the federal solar tax credit of 30%.
These figures are just averages, and how much solar costs for you will most likely vary based on the amount of energy your home requires and what company you want to go with. Many homeowners find going solar is a solid investment. The average homeowner in Peekskill can save around $30,000 on their electricity bills over 20 years.
To receive a free estimate from a top solar company in Peekskill, you can click the button below.
Solar savings over time in Peekskill
| Year | Return on Investment |
|---|---|
| 1 years | $-8,534 |
| 3 years | $-8,311 |
| 5 years | $-8,089 |
| 7 years | $-7,867 |
| 9 years | $-7,645 |
| 11 years | $-7,422 |
| 13 years | $-7,200 |
| 15 years | $-6,978 |
| 17 years | $-6,756 |
| 19 years | $-6,533 |
| 21 years | $-6,311 |
| 23 years | $-6,089 |
| 25 years | $-5,866 |
Top Solar Installers in Peekskill
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring an installer can make converting to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't sure which solar system company to go with, here are our recommendations for providers nearby:
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 Peekskill
Factors that Affect Solar Panel Costs in Peekskill
Though the average cost of a solar system in Peekskill is $8,652, your final cost may differ. 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 important things to keep in mind.
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 about $2,950. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at 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 raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Peekskill, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. Although solar loans make adopting solar energy more accessible for Peekskill 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can influence your pricing. Peekskill's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $34,898 | 6.7 years |
| 8 kW | $3.01 | $16,850 | $46,861 | 6.6 years |
| 10 kW | $2.95 | $20,650 | $58,989 | 6.5 years |
| 12 kW | $2.89 | $24,284 | $71,283 | 6.4 years |
| 14 kW | $2.83 | $27,754 | $83,741 | 6.2 years |
| 16 kW | $2.77 | $31,058 | $96,365 | 6.1 years |
| 18 kW | $2.71 | $34,196 | $109,154 | 6.0 years |
| 20 kW | $2.66 | $37,170 | $122,108 | 5.8 years |
How to Save on Solar Panels
There are many companies available in Peekskill, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing 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 Peekskill, NY Solar Cost FAQs
How much does it cost to install solar panels in Peekskill?
The average cost of solar panels in Peekskill 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 stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Peekskill?
A solar panel system isn't free in Peekskill, 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 help lower the cost.
Can you sell solar power back to the grid in Peekskill?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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 cover 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.