Solar Panel Cost Guide in Chatham, NY (2024 Update)
- Chatham Solar Installation Cost: $11,344
- 25-Year Savings: $6,335
- Payback Period: 18.3 Years
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Average Cost of Solar Panels in Chatham
Find out what the average cost of solar panels are in Chatham.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Chatham, the typical cost of a solar system is 4 per watt.Using this figure, a typical 4.4-kW system would cost about $11,344 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.With typical savings of about $13,000 on electricity bills over 20 years, many homeowners in Chatham find investing in solar has a decent ROI.
To receive a free quote from a pre-vetted solar installation company in Chatham, you can click the button below.
Solar savings over time in Chatham
| Year | Return on Investment |
|---|---|
| 1 years | $-10,509 |
| 3 years | $-8,839 |
| 5 years | $-7,169 |
| 7 years | $-5,498 |
| 9 years | $-3,828 |
| 11 years | $-2,158 |
| 13 years | $-488 |
| 15 years | $1,182 |
| 17 years | $2,853 |
| 19 years | $4,523 |
| 21 years | $6,193 |
| 23 years | $7,863 |
| 25 years | $9,533 |
Top Solar Installers in Chatham
Trying to put up solar panels on your own can be a difficult undertaking, which is why hiring a solar installer is a good option for many homeowners. The payback period of solar panels will vary based on factors like your location and energy needs, but going with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
If you’d like to start using solar energy but still aren’t certain which solar company to go with, here are our recommendations for providers in Chatham:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Chatham
Factors that Affect Solar Panel Costs in Chatham
For many Chatham homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Chatham, 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
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Chatham, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher 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 estimate the cost of solar for your home or business in Chatham is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services for different budgets.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $3.80 | $15,943 | $5,007 | 19.0 years |
| 8 kW | $3.72 | $20,849 | $7,085 | 18.7 years |
| 10 kW | $3.65 | $25,550 | $9,368 | 18.3 years |
| 12 kW | $3.58 | $30,047 | $11,855 | 17.9 years |
| 14 kW | $3.50 | $34,339 | $14,546 | 17.6 years |
| 16 kW | $3.43 | $38,427 | $17,441 | 17.2 years |
| 18 kW | $3.36 | $42,311 | $20,541 | 16.8 years |
| 20 kW | $3.29 | $45,990 | $23,846 | 16.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Contract: Even though 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.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Chatham, NY Solar Cost FAQs
What is the average cost of installing solar panels in Chatham?
This is a hard question to answer precisely, because the cost depends on a variety of 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Chatham?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback 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 way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Chatham?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much 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 buy 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.