Solar Panel Cost Guide in Somers, NY (2023 Update)
- Somers Solar Installation Cost: $8,652
- 25-Year Savings: $10,783
- Payback Period: 11.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Somers
Let's take a look at the average cost of solar in Somers.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Somers, the typical cost of solar panels is 2.95 per watt. The average Somers homeowner needs a 4.2-kilowatt system, which would cost about $8,652 with the federal tax credit, or $12,372 before the 30% tax credit is applied.
These figures are only estimates, and how much solar costs for you may differ based on your energy needs and what company you choose to go with. For many homeowners, the upfront cost of solar panels is worth paying. On average Somers homeowners see about $18,000 in savings on utility bills over 20 years.
To receive a free quote from a top solar installation company in Somers, you can click the button below.
Solar savings over time in Somers
| Year | Return on Investment |
|---|---|
| 1 years | $-7,875 |
| 3 years | $-6,320 |
| 5 years | $-4,765 |
| 7 years | $-3,211 |
| 9 years | $-1,656 |
| 11 years | $-101 |
| 13 years | $1,454 |
| 15 years | $3,009 |
| 17 years | $4,563 |
| 19 years | $6,118 |
| 21 years | $7,673 |
| 23 years | $9,228 |
| 25 years | $10,783 |
Top Solar Installers in Somers
Although you can install solar panels yourself, it involves extra energy and handiness. That's why most homeowners choose to hire a solar panel installer. Plus, if you're unsure what type of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
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 Somers
Factors that Affect Solar Panel Costs in Somers
For many Somers homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Somers, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you only 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 a solar system out of pocket is out of reach, solar loans are a popular option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Somers is the company you choose to install your PV system. As with choosing a company to install new cabinets, for instance, you'll have many options for solar installers that offer a range of services for different budgets. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 | $14,969 | 11.6 years |
| 8 kW | $3.01 | $16,850 | $20,289 | 11.3 years |
| 10 kW | $2.95 | $20,650 | $25,775 | 11.1 years |
| 12 kW | $2.89 | $24,284 | $31,425 | 10.9 years |
| 14 kW | $2.83 | $27,754 | $37,241 | 10.7 years |
| 16 kW | $2.77 | $31,058 | $43,222 | 10.5 years |
| 18 kW | $2.71 | $34,196 | $49,368 | 10.2 years |
| 20 kW | $2.66 | $37,170 | $55,679 | 10.0 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Somers, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: The brand of solar panel you need to get plays a part in which installer you should opt for, since different companies have access to different panels.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
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 Somers, NY Solar Cost FAQs
How much does it cost to install solar panels in Somers?
This is a tough question to answer exactly, because the cost depends on a variety of 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Somers?
Leasing solar panels can be an appealing choice, as 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.
Do solar panels increase your home value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't choose 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."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.