Solar Panel Cost Guide in Putnam Lake, NY (2024 Update)
- Putnam Lake Solar Installation Cost: $11,042
- 25-Year Savings: $5,876
- Payback Period: 18.7 Years
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Average Cost of Solar Panels in Putnam Lake
Find out what the average cost of solar panel installation is in Putnam Lake.
In Putnam Lake, solar panels cost about 4 per watt on average.Using this figure, a typical 4.3-kW system would cost about $11,042 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of going solar can vary based on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with.Despite the high upfront cost, the average Putnam Lake homeowner can save about $13,000 on their electricity bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Putnam Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-10,216 |
| 3 years | $-8,564 |
| 5 years | $-6,912 |
| 7 years | $-5,260 |
| 9 years | $-3,608 |
| 11 years | $-1,957 |
| 13 years | $-305 |
| 15 years | $1,347 |
| 17 years | $2,999 |
| 19 years | $4,651 |
| 21 years | $6,303 |
| 23 years | $7,954 |
| 25 years | $9,606 |
Top Solar Installers in Putnam Lake
Although it's possible to install solar panels yourself, it takes extra time and expertise. Because of that, most people choose a solar panel installer. Another great thing about choosing a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
If you're looking for a solar installer in Putnam Lake, the EcoWatch team has organized 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
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 is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Putnam Lake average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your overall costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you choose will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Putnam Lake know more about local solar incentives and can help you learn about 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 | $3.80 | $15,943 | $4,605 | 19.4 years |
| 8 kW | $3.72 | $20,849 | $6,548 | 19.0 years |
| 10 kW | $3.65 | $25,550 | $8,696 | 18.7 years |
| 12 kW | $3.58 | $30,047 | $11,049 | 18.3 years |
| 14 kW | $3.50 | $34,339 | $13,606 | 17.9 years |
| 16 kW | $3.43 | $38,427 | $16,367 | 17.5 years |
| 18 kW | $3.36 | $42,311 | $19,332 | 17.2 years |
| 20 kW | $3.29 | $45,990 | $22,502 | 16.8 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Warranty: If you’re worried about the durability of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Putnam Lake, NY Solar Cost FAQs
What is the average cost of installing solar panels in Putnam Lake?
The average cost of solar panels in Putnam Lake is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model 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?
The initial 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 be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will installing solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Putnam Lake is currently $517,575, which means you can expect a value of about $21,221 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Putnam Lake is a fruitful investment.
How long do solar panels last in Putnam Lake?
Although 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 choose 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.