Solar Panel Cost Guide in Pound Ridge, NY (Mar 2023)
- Pound Ridge Solar Installation Cost: $8,652
- 25-Year Savings: $15,417
- Payback Period: 9.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Pound Ridge
Find out what the average cost of solar panels are in Pound Ridge.
The national average cost of solar panels is $2.66 per watt, but in Pound Ridge it's 2.95 per watt. To account for the typical energy usage of the average home in Pound Ridge, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,652, or $12,372 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary based on a few factors, such as what size system you need, your energy usage and what company you go with. But, once you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $22,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Pound Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-7,690 |
| 3 years | $-5,764 |
| 5 years | $-3,838 |
| 7 years | $-1,913 |
| 9 years | $13 |
| 11 years | $1,938 |
| 13 years | $3,864 |
| 15 years | $5,789 |
| 17 years | $7,715 |
| 19 years | $9,641 |
| 21 years | $11,566 |
| 23 years | $13,492 |
| 25 years | $15,417 |
Top Solar Installers in Pound Ridge
Many homeowners choose to use a solar installer since installing solar panels yourself can be time-consuming. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
Working with a professional solar installer can make going solar easier. 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 Pound Ridge
Factors that Affect Solar Panel Costs in Pound Ridge
There are a number of factors that can influence your solar system 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
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Pound Ridge, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Pound Ridge to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices 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 put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Pound Ridge, and each can charge different amounts for labor and equipment. You may see national solar installers that have lower prices due to their larger 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 | $21,612 | 9.3 years |
| 8 kW | $3.01 | $16,850 | $29,146 | 9.2 years |
| 10 kW | $2.95 | $20,650 | $36,846 | 9.0 years |
| 12 kW | $2.89 | $24,284 | $44,711 | 8.8 years |
| 14 kW | $2.83 | $27,754 | $52,741 | 8.6 years |
| 16 kW | $2.77 | $31,058 | $60,936 | 8.4 years |
| 18 kW | $2.71 | $34,196 | $69,297 | 8.3 years |
| 20 kW | $2.66 | $37,170 | $77,822 | 8.1 years |
How to Save on Solar Panels
The solar installer you go with will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:
- Solar Panel Brands: The brand of solar panel you want plays a part in which installer you should choose, since different companies have different panels.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Contract: Review the contract terms closely to make sure you understand the total cost, project timeline rebates and warranties.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what you need to do 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
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 Pound Ridge, NY Solar Cost FAQs
How much does it cost to install solar panels in Pound Ridge?
The average cost of solar panels in Pound Ridge 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 such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.