Solar Panel Cost Guide in Saratoga Springs, NY (2023 Update)
- Saratoga Springs Solar Installation Cost: $9,251
- 25-Year Savings: $6,393
- Payback Period: 14.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Saratoga Springs
Let's take a look at the average cost of solar panels in Saratoga Springs.
Although the national average of solar panels is $2.66 per watt, solar panels in Saratoga Springs typically cost around 2.95. Since a 4.5-kW system is needed to cover the energy usage of a typical home in Saratoga Springs, the average price of going solar will be about $9,251 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Saratoga Springs homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the large initial cost, the average Saratoga Springs homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Saratoga Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-8,625 |
| 3 years | $-7,374 |
| 5 years | $-6,122 |
| 7 years | $-4,871 |
| 9 years | $-3,619 |
| 11 years | $-2,368 |
| 13 years | $-1,116 |
| 15 years | $135 |
| 17 years | $1,387 |
| 19 years | $2,638 |
| 21 years | $3,890 |
| 23 years | $5,142 |
| 25 years | $6,393 |
Top Solar Installers in Saratoga Springs
Trying to put up solar panels by yourself can be a stressful undertaking, which is why getting a solar installer is a good option for many homeowners. Local solar companies can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
If you'd like to go solar but still aren't certain which solar system company to go with, here are our recommendations for providers in Saratoga Springs:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Saratoga Springs
Factors that Affect Solar Panel Costs in Saratoga Springs
The cost of installing a solar system in Saratoga Springs can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,950 per kilowatt in Saratoga Springs. There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Saratoga Springs have solar loans, which reduce the initial cost of installing a solar system. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Saratoga Springs, and each can charge different amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that offers the products, warranties and services you're looking for and also fits within your budget.
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 | $8,048 | 15.4 years |
| 8 kW | $3.01 | $16,850 | $11,061 | 15.1 years |
| 10 kW | $2.95 | $20,650 | $14,239 | 14.8 years |
| 12 kW | $2.89 | $24,284 | $17,582 | 14.5 years |
| 14 kW | $2.83 | $27,754 | $21,091 | 14.2 years |
| 16 kW | $2.77 | $31,058 | $24,764 | 13.9 years |
| 18 kW | $2.71 | $34,196 | $28,603 | 13.6 years |
| 20 kW | $2.66 | $37,170 | $32,607 | 13.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Saratoga Springs, NY Solar Cost FAQs
What is the average cost of installing solar panels in Saratoga Springs?
This is a difficult question to answer exactly, because the cost depends on many 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 higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Saratoga Springs?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 higher 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.