Solar Panel Cost Guide in Ridge, NY (2023 Update)
- Ridge Solar Installation Cost: $8,033
- 25-Year Savings: $14,338
- Payback Period: 9.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Ridge
Find out what the average cost of solar panels are in Ridge.
The average cost of a solar panel system in Ridge is 2.95 per watt. To account for the typical energy needs of the average home in Ridge, most homeowners require a 3.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,033, or $11,487 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and how much solar costs for you will most likely look different based on your energy needs and what company you choose to go with. But, after you've paid the upfront cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $22,000 over 20 years on energy bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-7,138 |
| 3 years | $-5,348 |
| 5 years | $-3,559 |
| 7 years | $-1,769 |
| 9 years | $21 |
| 11 years | $1,810 |
| 13 years | $3,600 |
| 15 years | $5,390 |
| 17 years | $7,179 |
| 19 years | $8,969 |
| 21 years | $10,759 |
| 23 years | $12,548 |
| 25 years | $14,338 |
Top Solar Installers in Ridge
Putting up solar panels on your own can be a stressful task, which is why using a solar installer is a good option for many homeowners. The payback period of solar panels will vary depending on factors like your roof configuration and energy use, but working with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
Working with a professional solar company can help your solar project go smoothly. 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 Ridge
Factors that Affect Solar Panel Costs in Ridge
The cost of installing a solar system in Ridge can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need for your home, 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 nearly $2,950. The kind of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are an affordable route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, 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 opt for to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies in Ridge, and each can charge varying amounts for labor and equipment. Additionally, some companies in Ridge are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $21,650 | 9.3 years |
| 8 kW | $3.01 | $16,850 | $29,197 | 9.1 years |
| 10 kW | $2.95 | $20,650 | $36,909 | 9.0 years |
| 12 kW | $2.89 | $24,284 | $44,786 | 8.8 years |
| 14 kW | $2.83 | $27,754 | $52,829 | 8.6 years |
| 16 kW | $2.77 | $31,058 | $61,037 | 8.4 years |
| 18 kW | $2.71 | $34,196 | $69,410 | 8.3 years |
| 20 kW | $2.66 | $37,170 | $77,948 | 8.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- 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 what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: The type of solar panel you'd like to install plays a part in which installer you should opt for, since different companies have access to 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 Ridge, NY Solar Cost FAQs
How much does it cost to install solar panels in Ridge?
The average cost of solar panels in Ridge is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your home value?
Solar panels can increase your property's value significantly 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?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.