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.
In Hamilton, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Hamilton, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $11,795, or $16,867 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what company you go with.With average savings of about $12,000 on power bills over 20 years, many homeowners in Hamilton find investing in solar can pay off big.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
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
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar panel installer can make your swap to solar power much easier. The expertise that solar companies offer can be invaluable as well, especially if you aren’t sure what brand of solar equipment would be right for your home.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 Hamilton
Factors that Affect Solar Panel Costs in Hamilton
The cost of installing a solar system in Hamilton can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel 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 around $3,650. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Hamilton average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Hamilton homeowners choose 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 choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Hamilton is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for instance, you’ll have many options for solar installers that provide a range of services for different budgets.The company’s size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 solar installer you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
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 Hamilton, NY Solar Cost FAQs
How much does it cost to install 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 real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Hamilton?
A solar panel system isn’t free in Hamilton, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Does Hamilton have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How long do solar panels last in Hamilton?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of 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.