Solar Panel Cost Guide in Putnam Lake, NY (2023 Update)
- Putnam Lake Solar Installation Cost: $8,924
- 25-Year Savings: $5,876
- Payback Period: 15.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Putnam Lake
We break down average solar pricing in Putnam Lake.
The national average cost of solar panels is $2.66 per watt, but in Putnam Lake it's 2.95 per watt. Because a 4.3-kW system is needed to cover the energy needs of a typical home in Putnam Lake, the average price of going solar will be about $8,921 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 energy system. The exact cost of going solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what installation company you go with. With average savings of about $13,000 on power bills over 20 years, many homeowners in Putnam Lake find going solar can pay off big.
Click the button below to get connected to a highly rated solar installer in Putnam Lake for a customized quote.
Solar savings over time in Putnam Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-8,875 |
| 3 years | $-8,776 |
| 5 years | $-8,677 |
| 7 years | $-8,579 |
| 9 years | $-8,480 |
| 11 years | $-8,381 |
| 13 years | $-8,283 |
| 15 years | $-8,184 |
| 17 years | $-8,086 |
| 19 years | $-7,987 |
| 21 years | $-7,888 |
| 23 years | $-7,790 |
| 25 years | $-7,691 |
Top Solar Installers in Putnam Lake
Many homeowners opt for a solar panel company since figuring out how to install solar panels yourself can be time-consuming. The expertise that solar installers provide can be invaluable as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
Working with a vetted 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
See all of the solar companies in Putnam Lake
Factors that Affect Solar Panel Costs in Putnam Lake
The cost of installing a solar system in Putnam Lake can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Putnam Lake, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by about $2,950 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Putnam Lake average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Putnam Lake, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your total costs, so it's crucial to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Putnam Lake, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Putnam Lake have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $7,662 | 15.7 years |
| 8 kW | $3.01 | $16,850 | $10,547 | 15.4 years |
| 10 kW | $2.95 | $20,650 | $13,596 | 15.1 years |
| 12 kW | $2.89 | $24,284 | $16,811 | 14.8 years |
| 14 kW | $2.83 | $27,754 | $20,191 | 14.5 years |
| 16 kW | $2.77 | $31,058 | $23,736 | 14.2 years |
| 18 kW | $2.71 | $34,196 | $27,447 | 13.9 years |
| 20 kW | $2.66 | $37,170 | $31,322 | 13.6 years |
How to Save on Solar Panels
The solar company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
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 Putnam Lake, NY Solar Cost FAQs
What is the average cost of installing solar panels in Putnam Lake?
This is a difficult question to answer precisely, because the cost depends on a few different 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities 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.
Is making the switch to solar worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 larger level 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.