Solar Panel Cost Guide in Waterford, NY (2024 Update)
- Waterford Solar Installation Cost: $11,457
- 25-Year Savings: $6,948
- Payback Period: 17.7 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 Waterford
We break down average solar pricing in Waterford.
Although the national average of solar panels is $2.66 per watt, solar panels in Waterford typically cost around 4.Because a 4.5-kW system is needed to cover the energy usage of a typical home in Waterford, the average price of going solar will be about $11,457 after claiming the federal solar tax credit of 0.
These figures are just averages, and how much solar costs for you will look different based on the amount of energy your home requires and what company you want to go with.But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on electricity bills.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Waterford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,548 |
| 3 years | $-8,731 |
| 5 years | $-6,914 |
| 7 years | $-5,097 |
| 9 years | $-3,279 |
| 11 years | $-1,462 |
| 13 years | $355 |
| 15 years | $2,172 |
| 17 years | $3,989 |
| 19 years | $5,806 |
| 21 years | $7,623 |
| 23 years | $9,441 |
| 25 years | $11,258 |
Top Solar Installers in Waterford
Many homeowners decide to hire a solar panel installer since trying to put up solar panels yourself can be time-consuming. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.
Working with a professional solar installer can help you make the most of your investment in solar. 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 Waterford
Factors that Affect Solar Panel Costs in Waterford
For many Waterford homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Waterford, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,650. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 companies in Waterford offer solar loans, which reduce the initial cost of installing solar panels.It’s wise to factor 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 how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you pick will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Waterford are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $5,743 | 18.4 years |
| 8 kW | $3.72 | $20,849 | $8,066 | 18.0 years |
| 10 kW | $3.65 | $25,550 | $10,594 | 17.7 years |
| 12 kW | $3.58 | $30,047 | $13,326 | 17.3 years |
| 14 kW | $3.50 | $34,339 | $16,262 | 17.0 years |
| 16 kW | $3.43 | $38,427 | $19,403 | 16.6 years |
| 18 kW | $3.36 | $42,311 | $22,748 | 16.3 years |
| 20 kW | $3.29 | $45,990 | $26,298 | 15.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Waterford, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: When reading over your solar installer’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.
- Warranty: If you care about the longevity of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
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 Waterford, NY Solar Cost FAQs
How much does it cost to install solar panels in Waterford?
The average cost of solar panels in Waterford 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 such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Waterford?
A solar panel system isn’t free in Waterford, 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 help lower the cost.
Is it worth going solar in Waterford?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know 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 house 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.