Solar Panel Cost Guide in Hamlin, NY (2024 Update)
- Hamlin Solar Installation Cost: $10,653
- 25-Year Savings: $7,906
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Hamlin
We go over average solar pricing in Hamlin.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hamlin, the typical cost of solar panels is 4 per watt.To cover the typical energy needs of the average home in Hamlin, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $10,653, or $15,234 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Hamlin homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $15,000 on electricity bills over 20 years, many homeowners in Hamlin find going solar can be quite rewarding.
To receive a free estimate from a pre-vetted solar installer in Hamlin, you can click the button below.
Solar savings over time in Hamlin
| Year | Return on Investment |
|---|---|
| 1 years | $-9,744 |
| 3 years | $-7,927 |
| 5 years | $-6,110 |
| 7 years | $-4,293 |
| 9 years | $-2,476 |
| 11 years | $-658 |
| 13 years | $1,159 |
| 15 years | $2,976 |
| 17 years | $4,793 |
| 19 years | $6,610 |
| 21 years | $8,427 |
| 23 years | $10,244 |
| 25 years | $12,062 |
Top Solar Installers in Hamlin
Although it's possible to install solar panels by yourself, it takes extra time and expertise. For that reason, most homeowners choose to go with a solar panel installer. Plus, if you’re unsure what brand of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Hamlin
Factors that Affect Solar Panel Costs in Hamlin
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Hamlin: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important 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, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Hamlin average.
Solar Financing Terms
Many homeowners find the average cost of solar in Hamlin to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Hamlin have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $7,823 | 16.8 years |
| 8 kW | $3.72 | $20,849 | $10,840 | 16.4 years |
| 10 kW | $3.65 | $25,550 | $14,061 | 16.1 years |
| 12 kW | $3.58 | $30,047 | $17,486 | 15.8 years |
| 14 kW | $3.50 | $34,339 | $21,116 | 15.5 years |
| 16 kW | $3.43 | $38,427 | $24,950 | 15.2 years |
| 18 kW | $3.36 | $42,311 | $28,989 | 14.8 years |
| 20 kW | $3.29 | $45,990 | $33,232 | 14.5 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: If you’re worried about the longevity of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Solar Panel Brands: The brand of solar panel you need to get plays a part in which company you should go with, since different companies have different panels.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
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 Hamlin, NY Solar Cost FAQs
What is the average cost of installing solar panels in Hamlin?
The average cost of solar panels in Hamlin is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Hamlin?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
How will installing solar panels impact my home value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out 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 household 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.