Solar Panel Cost Guide in Rensselaer, NY (2023 Update)
- Rensselaer Solar Installation Cost: $9,416
- 25-Year Savings: $6,087
- Payback Period: 15.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Rensselaer
See how much it might cost to make the switch to solar in Rensselaer.
In Rensselaer, solar panels cost about 2.95 per watt on average. Since a 4.6-kW system is needed to cover the energy costs of a typical home in Rensselaer, the average price of going solar will be about $9,416 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Rensselaer homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $13,000 over 20 years on utility bills.
You can click the button below to get connected with a top solar installer in Rensselaer that can help you get a more accurate cost estimate for your home.
Solar savings over time in Rensselaer
| Year | Return on Investment |
|---|---|
| 1 years | $-8,796 |
| 3 years | $-7,556 |
| 5 years | $-6,316 |
| 7 years | $-5,075 |
| 9 years | $-3,835 |
| 11 years | $-2,595 |
| 13 years | $-1,355 |
| 15 years | $-114 |
| 17 years | $1,126 |
| 19 years | $2,366 |
| 21 years | $3,607 |
| 23 years | $4,847 |
| 25 years | $6,087 |
Top Solar Installers in Rensselaer
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring a solar company can make converting to solar power much easier. Companies can also have access to a large variety of the best solar panels and help you choose which one will be right for your home.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Rensselaer
Factors that Affect Solar Panel Costs in Rensselaer
The cost of installing a solar system in Rensselaer can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need 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 $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 often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the growing popularity of sustainable energy solutions in Rensselaer, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $7,503 | 15.8 years |
| 8 kW | $3.01 | $16,850 | $10,335 | 15.5 years |
| 10 kW | $2.95 | $20,650 | $13,332 | 15.2 years |
| 12 kW | $2.89 | $24,284 | $16,494 | 14.9 years |
| 14 kW | $2.83 | $27,754 | $19,821 | 14.6 years |
| 16 kW | $2.77 | $31,058 | $23,313 | 14.3 years |
| 18 kW | $2.71 | $34,196 | $26,971 | 14.0 years |
| 20 kW | $2.66 | $37,170 | $30,793 | 13.7 years |
How to Save on Solar Panels
There are a large number of companies available in Rensselaer, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: The kind of solar panel you'd like to install plays a part in which company you should go with, since different companies offer different panels.
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 Rensselaer, NY Solar Cost FAQs
How much does it cost to install solar panels in Rensselaer?
The average cost of solar panels in Rensselaer 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 things such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Rensselaer?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is switching to solar power worth it?
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 long do solar panels last in Rensselaer?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use 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.