Solar Panel Cost Guide in Saratoga Springs, NY (2023 Update)
- Saratoga Springs Solar Installation Cost: $11,457
- 25-Year Savings: $6,385
- Payback Period: 18.3 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Saratoga Springs
Here’s how much it might cost to go solar in Saratoga Springs.
Although the national average of solar panels is $2.66 per watt, solar panels in Saratoga Springs generally cost around 4.To account for the typical energy needs of the average home in Saratoga Springs, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs around $11,457, or $16,384 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of going solar can vary quite a bit depending on several factors, such as what size system you need, your energy usage and what company you go with.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Saratoga Springs see about $13,000 in savings on energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Saratoga Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-10,603 |
| 3 years | $-8,896 |
| 5 years | $-7,189 |
| 7 years | $-5,482 |
| 9 years | $-3,775 |
| 11 years | $-2,068 |
| 13 years | $-362 |
| 15 years | $1,345 |
| 17 years | $3,052 |
| 19 years | $4,759 |
| 21 years | $6,466 |
| 23 years | $8,173 |
| 25 years | $9,880 |
Top Solar Installers in Saratoga Springs
Although it's possible to install solar panels yourself, it requires extra labor and expertise. For that reason, most people choose to hire a solar panel installer. In addition, if you’d like to maximize your investment in solar power, opting for a solar installer can help with that as well. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our suggestions for providers nearby:
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 Springs
Factors that Affect Solar Panel Costs in Saratoga Springs
For many Saratoga Springs homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Saratoga Springs, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
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 electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,650 per kilowatt in Saratoga Springs.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 in the long run on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Saratoga Springs average.
Solar Financing Terms
Many homeowners find the average cost of solar in Saratoga Springs to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest.It’s wise to include 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 how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Saratoga Springs is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, you’ll have no shortage of solar installers that provide a range of services at different price points.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 come at a higher cost. It’s best to do some research and decide on the company that provides the products, warranties and services you want and also is 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 | $3.80 | $15,943 | $4,990 | 19.0 years |
| 8 kW | $3.72 | $20,849 | $7,062 | 18.7 years |
| 10 kW | $3.65 | $25,550 | $9,339 | 18.3 years |
| 12 kW | $3.58 | $30,047 | $11,820 | 17.9 years |
| 14 kW | $3.50 | $34,339 | $14,505 | 17.6 years |
| 16 kW | $3.43 | $38,427 | $17,395 | 17.2 years |
| 18 kW | $3.36 | $42,311 | $20,489 | 16.8 years |
| 20 kW | $3.29 | $45,990 | $23,787 | 16.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Warranty: If you care about the endurance of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can make 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
EcoWatch's Saratoga Springs, NY Solar Cost FAQs
How much does it cost to install solar panels in Saratoga Springs?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep 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?
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 give you credit toward your future utility 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 usage and the average daily sunlight your roof gets. You can take a 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 cover 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.