Solar Panel Cost Guide in Hamilton, NY (2024 Update)
- Hamilton Solar Installation Cost: $11,795
- 25-Year Savings: $5,267
- Payback Period: 19.9 Years
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Average Cost of Solar Panels in Hamilton
Find out what the average cost of a solar system is in Hamilton.
The average cost of a solar system in Hamilton is 4 per watt.The average solar panel system size in Hamilton is around 4.6 kilowatts, meaning a cost of about $11,795 for a solar installation, or $16,867 before the 0 federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in Hamilton based on several factors, such as the model of solar panels you choose and the solar contractor you hire.Many homeowners find going solar is a rewarding investment. The average homeowner in Hamilton can save around $12,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Hamilton for a quote for your home.
Solar savings over time in Hamilton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,969 |
| 3 years | $-9,317 |
| 5 years | $-7,666 |
| 7 years | $-6,014 |
| 9 years | $-4,362 |
| 11 years | $-2,710 |
| 13 years | $-1,058 |
| 15 years | $594 |
| 17 years | $2,246 |
| 19 years | $3,897 |
| 21 years | $5,549 |
| 23 years | $7,201 |
| 25 years | $8,853 |
Top Solar Installers in Hamilton
Many homeowners opt for a solar installer since trying to install solar panels on your own can be hard. Companies can also have access to quality options of the best solar panels and help you choose which one will be best for your home.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Hamilton
Factors that Affect Solar Panel Costs in Hamilton
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Hamilton: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Hamilton provide solar loans, which reduce the initial cost of installing solar.It’s a good idea to add 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Hamilton, and each can charge different amounts for labor and equipment.Companies that only sell high-efficiency and high-priced products — 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 find a company that provides 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 | $3.80 | $15,943 | $3,292 | 20.7 years |
| 8 kW | $3.72 | $20,849 | $4,798 | 20.3 years |
| 10 kW | $3.65 | $25,550 | $6,509 | 19.9 years |
| 12 kW | $3.58 | $30,047 | $8,424 | 19.5 years |
| 14 kW | $3.50 | $34,339 | $10,543 | 19.1 years |
| 16 kW | $3.43 | $38,427 | $12,867 | 18.7 years |
| 18 kW | $3.36 | $42,311 | $15,395 | 18.3 years |
| 20 kW | $3.29 | $45,990 | $18,127 | 17.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- 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 need to know with your solar company, such as what permits you should secure and how long the project will take.
- Warranty: If you’re worried about the durability of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Contract: Before signing a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Hamilton, NY Solar Cost FAQs
What is the average cost of installing solar panels in Hamilton?
The average cost of solar panels in Hamilton is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Hamilton?
You can’t get solar panels for free in Hamilton. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Does Hamilton have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Hamilton?
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 amount 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.