Solar Panel Cost Guide in New City, NY (2024 Update)
- New City Solar Installation Cost: $10,838
- 25-Year Savings: $18,340
- Payback Period: 10.0 Years
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Average Cost of Solar Panels in New City
Find out how much it might cost to go solar in New City.
In New City, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in New City, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $10,838, or $15,498 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of New City homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $24,000 over 20 years on utility bills.
To get a free estimate from a highly rated solar company in New City, you can click the button below.
Solar savings over time in New City
| Year | Return on Investment |
|---|---|
| 1 years | $-9,497 |
| 3 years | $-6,815 |
| 5 years | $-4,133 |
| 7 years | $-1,452 |
| 9 years | $1,230 |
| 11 years | $3,912 |
| 13 years | $6,594 |
| 15 years | $9,275 |
| 17 years | $11,957 |
| 19 years | $14,639 |
| 21 years | $17,320 |
| 23 years | $20,002 |
| 25 years | $22,684 |
Top Solar Installers in New City
Although you can install solar panels on your own, it requires extra effort and handiness. That's why most people choose a solar panel installer. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar company in New City, we've compiled a list of our top suggestions here:
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 New City
Factors that Affect Solar Panel Costs in New City
The cost of installing a solar system in New City can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the New City average.
Solar Financing Terms
Many homeowners find the average cost of solar in New City to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.You’ll have to consider the long-term cost of financing options, including the amount of 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 more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can influence how much it costs. New City’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have 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 | $22,389 | 10.4 years |
| 8 kW | $3.72 | $20,849 | $30,260 | 10.2 years |
| 10 kW | $3.65 | $25,550 | $38,336 | 10.0 years |
| 12 kW | $3.58 | $30,047 | $46,617 | 9.8 years |
| 14 kW | $3.50 | $34,339 | $55,102 | 9.6 years |
| 16 kW | $3.43 | $38,427 | $63,791 | 9.4 years |
| 18 kW | $3.36 | $42,311 | $72,685 | 9.2 years |
| 20 kW | $3.29 | $45,990 | $81,783 | 9.0 years |
How to Save on Solar Panels
There are many companies available in New City, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Installation Process: When making the switch to solar power, it’s essential to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project timeline.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
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 New City, NY Solar Cost FAQs
What is the average cost of installing solar panels in New City?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in New City?
You can’t get solar panels for free in New City. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in New City is currently $646,961, which means you can look forward to a value of about $26,525 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in New City is a fruitful investment.
How long do solar panels last in New City?
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.