Solar Panel Cost Guide in Manhasset, NY (2024 Update)
- Manhasset 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 Manhasset
Find out how much it might cost to go solar in Manhasset.
While the national average of solar panels is $2.66 per watt, solar panels in Manhasset generally cost around 4.To account for the typical energy usage of the average home in Manhasset, most homeowners require a 3.8-kilowatt system. Using the figure above, a solar installation costs around $9,833, or $14,061 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and how much solar costs for you will vary based on the amount of energy your home requires and what company you want to go with.Even with the significant upfront cost, the average Manhasset homeowner can save about $22,000 on their energy bills over 20 years, which is one of the perks of solar.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Manhasset
| 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 Manhasset
When making the switch to solar, many homeowners opt to go with a solar installation company since DIY solar panel installation can be a time-consuming project. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
Working with a licensed solar installer 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 Manhasset
Factors that Affect Solar Panel Costs in Manhasset
For many Manhasset homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Manhasset, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,650.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space 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 additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Manhasset to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.Though solar loans make adopting solar energy more accessible for Manhasset homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can influence your pricing. Manhasset’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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
There are numerous companies available in Manhasset, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Installation Process: When making the switch to solar energy, it’s essential to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project completion timeline.
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 Manhasset, NY Solar Cost FAQs
How much does it cost to install solar panels in Manhasset?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Manhasset?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home 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 financial benefits from going solar.
Can you sell solar power back to the grid in Manhasset?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Even 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 decide to replace them once you've had them for that long or you can continue to use 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.