Solar Panel Cost Guide in New Paltz, NY (2024 Update)
- New Paltz Solar Installation Cost: $11,137
- 25-Year Savings: $12,999
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in New Paltz
See how much it might cost to make the switch to solar in New Paltz.
While the national average of solar panels is $2.66 per watt, solar panels in New Paltz generally cost around 4.To cover the typical energy needs of the average home in New Paltz, most homeowners require a 4.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,137, or $15,926 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy usage and what installation company you go with.With typical savings of about $19,000 on utility bills over 20 years, many homeowners in New Paltz find investing in solar can pay off big.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in New Paltz
| Year | Return on Investment |
|---|---|
| 1 years | $-9,874 |
| 3 years | $-7,348 |
| 5 years | $-4,821 |
| 7 years | $-2,295 |
| 9 years | $231 |
| 11 years | $2,758 |
| 13 years | $5,284 |
| 15 years | $7,810 |
| 17 years | $10,337 |
| 19 years | $12,863 |
| 21 years | $15,390 |
| 23 years | $17,916 |
| 25 years | $20,442 |
Top Solar Installers in New Paltz
Trying to put up solar panels by yourself can be a difficult task, which is why getting a solar installer is a good option for many homeowners. The expertise that solar companies offer can be helpful as well, particularly if you don’t quite know what type of solar equipment would be right for your home.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
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 New Paltz
Factors that Affect Solar Panel Costs in New Paltz
There are several factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar system you need, 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 nearly $3,650. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect 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 increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many New Paltz homeowners opt to finance their solar panel systems to make paying for solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, 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 | $14,339 | 13.2 years |
| 8 kW | $3.72 | $20,849 | $19,527 | 12.9 years |
| 10 kW | $3.65 | $25,550 | $24,920 | 12.7 years |
| 12 kW | $3.58 | $30,047 | $30,517 | 12.4 years |
| 14 kW | $3.50 | $34,339 | $36,319 | 12.1 years |
| 16 kW | $3.43 | $38,427 | $42,325 | 11.9 years |
| 18 kW | $3.36 | $42,311 | $48,535 | 11.6 years |
| 20 kW | $3.29 | $45,990 | $54,950 | 11.4 years |
How to Save on Solar Panels
There are a lot of companies available in New Paltz, 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:
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
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 New Paltz, NY Solar Cost FAQs
What is the average cost of installing solar panels in New Paltz?
This is a difficult question to answer precisely, 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,009.40 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 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.