Solar Panel Cost Guide in Greece, NY (2024 Update)
- Greece Solar Installation Cost: $10,653
- 25-Year Savings: $8,437
- Payback Period: 15.6 Years
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Average Cost of Solar Panels in Greece
We go over average solar pricing in Greece.
The national average cost of solar panels is $2.66 per watt, but in Greece it’s 4 per watt.The average Greece homeowner needs a 4.2-kilowatt system, which would cost about $10,653 with the federal tax credit, or $15,234 before the 0 tax credit is applied.
How much you pay can be higher or lower than the average in Greece depending on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire.Even with the significant initial cost, the average Greece homeowner can save about $16,000 on their energy bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a highly rated solar company in Greece, you can click the button below.
Solar savings over time in Greece
| Year | Return on Investment |
|---|---|
| 1 years | $-9,746 |
| 3 years | $-7,932 |
| 5 years | $-6,119 |
| 7 years | $-4,305 |
| 9 years | $-2,491 |
| 11 years | $-678 |
| 13 years | $1,136 |
| 15 years | $2,949 |
| 17 years | $4,763 |
| 19 years | $6,577 |
| 21 years | $8,390 |
| 23 years | $10,204 |
| 25 years | $12,018 |
Top Solar Installers in Greece
When switching to solar energy, many homeowners decide to go with a solar company since DIY solar panel installation can be a challenging project. Local solar installers can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Greece:
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 Greece
Factors that Affect Solar Panel Costs in Greece
While the average cost of a solar system in Greece is $10,653, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $3,650 per kilowatt in Greece.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Greece, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Although solar loans make going solar more accessible for Greece homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Greece, and each can charge different amounts for labor and equipment.Additionally, some companies in Greece 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 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 | $8,587 | 16.2 years |
| 8 kW | $3.72 | $20,849 | $11,859 | 15.9 years |
| 10 kW | $3.65 | $25,550 | $15,334 | 15.6 years |
| 12 kW | $3.58 | $30,047 | $19,015 | 15.3 years |
| 14 kW | $3.50 | $34,339 | $22,899 | 15.0 years |
| 16 kW | $3.43 | $38,427 | $26,988 | 14.7 years |
| 18 kW | $3.36 | $42,311 | $31,281 | 14.4 years |
| 20 kW | $3.29 | $45,990 | $35,779 | 14.1 years |
How to Save on Solar Panels
There are numerous companies available in Greece, 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:
- Solar Panel Brands: The type of solar panel you want to install plays a role in which company you should choose, since different companies have different panels.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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 Greece, NY Solar Cost FAQs
How much does it cost to install solar panels in Greece?
The average cost of solar panels in Greece 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.
Should I lease or buy solar panels in Greece?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How much can I save on electricity bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Greece, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.