Solar Panel Cost Guide in Saratoga, NY (2023 Update)
- Saratoga Solar Installation Cost: $9,251
- 25-Year Savings: $6,353
- Payback Period: 14.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Saratoga
Find out what the average cost of solar panels are in Saratoga.
In Saratoga, solar panels cost about 2.95 per watt on average. To account for the typical energy usage of the average home in Saratoga, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,251, or $13,229 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and the cost of going solar for you may look different based on your specific situation and what company you want to go with. Even with the large upfront cost, the average Saratoga homeowner can save about $13,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a reputable solar panel company in Saratoga for a customized quote.
Solar savings over time in Saratoga
| Year | Return on Investment |
|---|---|
| 1 years | $-8,627 |
| 3 years | $-7,379 |
| 5 years | $-6,130 |
| 7 years | $-4,882 |
| 9 years | $-3,634 |
| 11 years | $-2,385 |
| 13 years | $-1,137 |
| 15 years | $111 |
| 17 years | $1,360 |
| 19 years | $2,608 |
| 21 years | $3,856 |
| 23 years | $5,104 |
| 25 years | $6,353 |
Top Solar Installers in Saratoga
Although you can install solar panels yourself, it takes extra effort and knowledge. That's why almost all homeowners choose to go with a solar panel installer. Also, companies with a good reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a vetted solar installer can help you make the most of your investment in solar. 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 Saratoga
Factors that Affect Solar Panel Costs in Saratoga
There are a number of factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,950. There are many different solar panel brands and the one you choose also affects the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid 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. Though solar loans make switching to solar energy more accessible for Saratoga homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Saratoga, and each can charge varying amounts for labor and equipment. Additionally, some companies in Saratoga 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 that service. 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 | $7,994 | 15.4 years |
| 8 kW | $3.01 | $16,850 | $10,989 | 15.1 years |
| 10 kW | $2.95 | $20,650 | $14,149 | 14.8 years |
| 12 kW | $2.89 | $24,284 | $17,474 | 14.5 years |
| 14 kW | $2.83 | $27,754 | $20,965 | 14.2 years |
| 16 kW | $2.77 | $31,058 | $24,621 | 13.9 years |
| 18 kW | $2.71 | $34,196 | $28,442 | 13.6 years |
| 20 kW | $2.66 | $37,170 | $32,428 | 13.4 years |
How to Save on Solar Panels
There are a lot of companies available in Saratoga, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies carry various brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
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 Saratoga, NY Solar Cost FAQs
What is the average cost of installing solar panels in Saratoga?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Saratoga?
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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Can you sell solar power back to the grid in Saratoga?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.