Solar Panel Cost Guide in Herkimer, NY (2024 Update)
- Herkimer Solar Installation Cost: $11,934
- 25-Year Savings: $6,210
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Herkimer
Find out what the average cost of solar panels are in Herkimer.
Although the national average of solar panels is $2.66 per watt, solar panels in Herkimer typically cost about 4.To cover the typical energy needs of the average home in Herkimer, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,934, or $17,066 before the federal solar tax credit of 0 is applied.
The true cost of your system can go above or below the average in Herkimer based on several factors, such as the kind of solar panels you choose and the solar company you hire.But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $13,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Herkimer
| Year | Return on Investment |
|---|---|
| 1 years | $-11,053 |
| 3 years | $-9,291 |
| 5 years | $-7,528 |
| 7 years | $-5,766 |
| 9 years | $-4,004 |
| 11 years | $-2,242 |
| 13 years | $-480 |
| 15 years | $1,282 |
| 17 years | $3,044 |
| 19 years | $4,806 |
| 21 years | $6,568 |
| 23 years | $8,330 |
| 25 years | $10,092 |
Top Solar Installers in Herkimer
When making the switch to solar, many homeowners opt to use a solar installer since handling can be a challenging project. Some solar installers, especially local ones, can help you make the most of incentives in Herkimer, optimizing your ROI.
If you're looking for a solar installer in Herkimer, the EcoWatch team has organized a list of our top suggestions here:
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 Herkimer
Factors that Affect Solar Panel Costs in Herkimer
The cost of installing a solar system in Herkimer can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation 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.There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just 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 an affordable option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.It’s wise to add 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the growing popularity of sustainable energy solutions in Herkimer, you’ll have many options to choose from, but each comes at various price points for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $4,424 | 19.6 years |
| 8 kW | $3.72 | $20,849 | $6,308 | 19.2 years |
| 10 kW | $3.65 | $25,550 | $8,396 | 18.8 years |
| 12 kW | $3.58 | $30,047 | $10,688 | 18.4 years |
| 14 kW | $3.50 | $34,339 | $13,185 | 18.1 years |
| 16 kW | $3.43 | $38,427 | $15,887 | 17.7 years |
| 18 kW | $3.36 | $42,311 | $18,792 | 17.3 years |
| 20 kW | $3.29 | $45,990 | $21,902 | 16.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before you sign a contract with a solar company, 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 the warranty covers and if there are any guarantees about energy production.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
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 Herkimer, NY Solar Cost FAQs
What is the average cost of installing solar panels in Herkimer?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Herkimer?
You can’t get solar panels for free in Herkimer. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Herkimer, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know 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 house 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.