Solar Panel Cost Guide in Amherst, NY (2024 Update)
- Amherst Solar Installation Cost: $11,696
- 25-Year Savings: $6,168
- Payback Period: 18.7 Years
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Average Cost of Solar Panels in Amherst
Let’s take a look at the average cost of solar panels in Amherst.
The average cost of a solar panel system in Amherst is 4 per watt.To cover the typical energy usage of the average home in Amherst, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,696, or $16,725 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of solar system you choose, your solar contractor and more.For many homeowners, the upfront investment in solar panels is worth paying. On average Amherst homeowners see about $13,000 in savings on electricity bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Amherst
| Year | Return on Investment |
|---|---|
| 1 years | $-10,839 |
| 3 years | $-9,125 |
| 5 years | $-7,411 |
| 7 years | $-5,698 |
| 9 years | $-3,984 |
| 11 years | $-2,270 |
| 13 years | $-556 |
| 15 years | $1,158 |
| 17 years | $2,872 |
| 19 years | $4,585 |
| 21 years | $6,299 |
| 23 years | $8,013 |
| 25 years | $9,727 |
Top Solar Installers in Amherst
Although it's possible to install solar panels on your own, it takes extra energy and expertise. Because of that, almost all homeowners choose a solar panel installer. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Amherst
Factors that Affect Solar Panel Costs in Amherst
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Amherst: 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 panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,650.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Amherst, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Amherst is the company you get to install your solar panel system. Similar to choosing a company to renovate your kitchen, for instance, you’ll have no shortage of solar installers that provide a range of services for different budgets.Additionally, some companies in Amherst know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $4,531 | 19.5 years |
| 8 kW | $3.72 | $20,849 | $6,450 | 19.1 years |
| 10 kW | $3.65 | $25,550 | $8,574 | 18.7 years |
| 12 kW | $3.58 | $30,047 | $10,902 | 18.3 years |
| 14 kW | $3.50 | $34,339 | $13,434 | 18.0 years |
| 16 kW | $3.43 | $38,427 | $16,171 | 17.6 years |
| 18 kW | $3.36 | $42,311 | $19,112 | 17.2 years |
| 20 kW | $3.29 | $45,990 | $22,257 | 16.8 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- 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 likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Amherst, NY Solar Cost FAQs
What is the average cost of installing solar panels in Amherst?
This is a hard question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Amherst?
A solar panel system isn’t free in Amherst, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Amherst is currently $318,349, so you could be looking at a value of about $13,052 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Amherst is a worthwhile investment.
How long do solar panels last in Amherst?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide 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.