Solar Panel Cost Guide in Stanford, NY (2023 Update)
- Stanford Solar Installation Cost: $8,985
- 25-Year Savings: $10,315
- Payback Period: 11.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Stanford
We go over average solar pricing in Stanford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Stanford, the typical cost of solar panels is 2.95 per watt. Using this figure, a typical 4.3-kW system would cost about $8,983 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. But, once you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $17,000 over 20 years on energy bills.
To get a free estimate from a top solar company in Stanford, you can click the button below.
Solar savings over time in Stanford
| Year | Return on Investment |
|---|---|
| 1 years | $-7,722 |
| 3 years | $-5,196 |
| 5 years | $-2,669 |
| 7 years | $-143 |
| 9 years | $2,384 |
| 11 years | $4,910 |
| 13 years | $7,436 |
| 15 years | $9,963 |
| 17 years | $12,489 |
| 19 years | $15,016 |
| 21 years | $17,542 |
| 23 years | $20,068 |
| 25 years | $22,595 |
Top Solar Installers in Stanford
Trying to install solar panels on your own can be a stressful task, which is why getting a solar installer is a good option for many homeowners. Another benefit of working with a solar installer is that they can help you optimize your investment by reducing your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
If you'd like to start using solar energy but still aren't sure which solar panel installer to go with, here are our recommendations for providers near you:
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 Stanford
Factors that Affect Solar Panel Costs in Stanford
For many Stanford homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Stanford, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,950. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Stanford average.
Solar Financing Terms
Many homeowners find the average cost of solar in Stanford to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can play a part in determining the cost. Stanford's solar companies all have different labor costs and add varying upcharges to equipment. You may see 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 | $13,728 | 12.1 years |
| 8 kW | $3.01 | $16,850 | $18,634 | 11.9 years |
| 10 kW | $2.95 | $20,650 | $23,706 | 11.6 years |
| 12 kW | $2.89 | $24,284 | $28,943 | 11.4 years |
| 14 kW | $2.83 | $27,754 | $34,345 | 11.2 years |
| 16 kW | $2.77 | $31,058 | $39,912 | 10.9 years |
| 18 kW | $2.71 | $34,196 | $45,644 | 10.7 years |
| 20 kW | $2.66 | $37,170 | $51,542 | 10.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Stanford, NY Solar Cost FAQs
How much does it cost to install solar panels in Stanford?
This is a tough question to answer exactly, because the cost depends on a few different 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Stanford?
A solar panel system isn't free in Stanford, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in Stanford?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs 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 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.