Solar Panel Cost Guide in Locust Valley, NY (2024 Update)
- Locust Valley Solar Installation Cost: $9,833
- 25-Year Savings: $14,424
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Locust Valley
Let’s take a look at the average cost of solar in Locust Valley.
The average cost of a solar panel system in Locust Valley is 4 per watt.Since a 3.8-kW system is needed to cover the energy costs of a typical home in Locust Valley, the average price of going solar will be about $9,833 after claiming the federal solar tax credit of 0.
The true cost of your system can be higher or lower than the average in Locust Valley based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $22,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Locust Valley for a quote for your home.
Solar savings over time in Locust Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-8,307 |
| 3 years | $-5,257 |
| 5 years | $-2,206 |
| 7 years | $845 |
| 9 years | $3,896 |
| 11 years | $6,946 |
| 13 years | $9,997 |
| 15 years | $13,048 |
| 17 years | $16,098 |
| 19 years | $19,149 |
| 21 years | $22,200 |
| 23 years | $25,250 |
| 25 years | $28,301 |
Top Solar Installers in Locust Valley
Although you can install solar panels yourself, it takes extra labor and expertise. Because of that, most homeowners choose to hire a solar panel installer. Plus, if you’d like to maximize your investment in solar, opting for a solar company can help with that too. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Locust Valley:
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 Locust Valley
Factors that Affect Solar Panel Costs in Locust Valley
There are several criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $3,650 per kilowatt in Locust Valley.There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
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 Locust Valley homeowners decide to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in Locust Valley, and each can charge varying amounts for labor and equipment.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $18,935 | 11.4 years |
| 8 kW | $3.72 | $20,849 | $25,656 | 11.2 years |
| 10 kW | $3.65 | $25,550 | $32,580 | 11.0 years |
| 12 kW | $3.58 | $30,047 | $39,710 | 10.8 years |
| 14 kW | $3.50 | $34,339 | $47,043 | 10.5 years |
| 16 kW | $3.43 | $38,427 | $54,581 | 10.3 years |
| 18 kW | $3.36 | $42,311 | $62,324 | 10.1 years |
| 20 kW | $3.29 | $45,990 | $70,271 | 9.9 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose greatly influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: When making the switch to solar energy, it’s necessary to keep an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project completion timeline.
- Warranty: If you’re concerned about the longevity of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Locust Valley, NY Solar Cost FAQs
What is the average cost of installing solar panels in Locust Valley?
The average cost of solar panels in Locust Valley 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Locust Valley?
Leasing solar panels can be an appealing choice, because it usually 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Locust Valley have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.