Solar Panel Cost Guide in Minden, NY (2024 Update)
- Minden Solar Installation Cost: $11,377
- 25-Year Savings: $7,012
- Payback Period: 17.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Minden
Find out what the average cost of solar panels are in Minden.
While the national average of solar panels is $2.66 per watt, solar panels in Minden typically cost around 4.The average Minden homeowner needs a 4.5-kilowatt system, which would cost about $11,377 with the federal tax credit, or $16,269 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Minden homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Even with the large upfront cost, the average Minden homeowner can save around $14,000 on their energy bills over 20 years, which is one of the perks of solar.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Minden
| Year | Return on Investment |
|---|---|
| 1 years | $-10,468 |
| 3 years | $-8,651 |
| 5 years | $-6,834 |
| 7 years | $-5,017 |
| 9 years | $-3,200 |
| 11 years | $-1,382 |
| 13 years | $435 |
| 15 years | $2,252 |
| 17 years | $4,069 |
| 19 years | $5,886 |
| 21 years | $7,703 |
| 23 years | $9,520 |
| 25 years | $11,338 |
Top Solar Installers in Minden
Installing solar panels on your own can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. Another perk of going with a solar company is that they can help you optimize your investment by bringing down your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
There are several licensed solar professionals that can install solar panels for you. 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 Minden
Factors that Affect Solar Panel Costs in Minden
For many Minden homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Minden, 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
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,650. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a 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 extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Minden provide solar loans, which reduce your upfront costs of installing solar.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Minden, you’ll have a great number of 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 because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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 | $5,895 | 18.3 years |
| 8 kW | $3.72 | $20,849 | $8,269 | 17.9 years |
| 10 kW | $3.65 | $25,550 | $10,847 | 17.5 years |
| 12 kW | $3.58 | $30,047 | $13,630 | 17.2 years |
| 14 kW | $3.50 | $34,339 | $16,617 | 16.8 years |
| 16 kW | $3.43 | $38,427 | $19,809 | 16.5 years |
| 18 kW | $3.36 | $42,311 | $23,205 | 16.1 years |
| 20 kW | $3.29 | $45,990 | $26,805 | 15.8 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Minden, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- 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.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: The model of solar panel you need to install plays a role in which installer you should choose, since different companies have access to different panels.
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 Minden, NY Solar Cost FAQs
How much does it cost to install solar panels in Minden?
This is a hard question to answer exactly, because the cost depends on a few different 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 be more expensive if you want extra solar equipment or more efficient 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 cheaper solar panels.
Is it better to lease or buy solar panels in Minden?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $727.95 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.