Solar Panel Cost Guide in Niagara, NY (2024 Update)
- Niagara Solar Installation Cost: $10,627
- 25-Year Savings: $7,618
- Payback Period: 16.4 Years
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Average Cost of Solar Panels in Niagara
Find out what the average cost of solar panels are in Niagara.
In Niagara, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in Niagara, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $10,627, or $15,197 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of going solar can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what installation company you go with.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Niagara can save about $15,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar company in Niagara for a quote for your home.
Solar savings over time in Niagara
| Year | Return on Investment |
|---|---|
| 1 years | $-9,719 |
| 3 years | $-7,902 |
| 5 years | $-6,085 |
| 7 years | $-4,267 |
| 9 years | $-2,450 |
| 11 years | $-633 |
| 13 years | $1,184 |
| 15 years | $3,001 |
| 17 years | $4,818 |
| 19 years | $6,635 |
| 21 years | $8,453 |
| 23 years | $10,270 |
| 25 years | $12,087 |
Top Solar Installers in Niagara
Installing solar panels on your own can be a time-consuming project, which is why using a solar installer is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
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 Niagara:
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 Niagara
Factors that Affect Solar Panel Costs in Niagara
Although the average cost of a solar system in Niagara is $10,627, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,650. The brand and type of equipment you choose for your solar system can increase or decrease 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 greater savings over time. Also, 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 Niagara to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Niagara is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that provide a range of services at different costs.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that offers the products, warranties and services you’re looking for and also fit into your budget.
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 | $7,435 | 17.0 years |
| 8 kW | $3.72 | $20,849 | $10,322 | 16.7 years |
| 10 kW | $3.65 | $25,550 | $13,414 | 16.4 years |
| 12 kW | $3.58 | $30,047 | $16,710 | 16.1 years |
| 14 kW | $3.50 | $34,339 | $20,210 | 15.7 years |
| 16 kW | $3.43 | $38,427 | $23,915 | 15.4 years |
| 18 kW | $3.36 | $42,311 | $27,824 | 15.1 years |
| 20 kW | $3.29 | $45,990 | $31,938 | 14.8 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
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 Niagara, NY Solar Cost FAQs
What is the average cost of installing solar panels in Niagara?
This is a hard question to answer precisely, because the cost depends on a variety of 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 cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Niagara?
You can’t get solar panels for free in Niagara. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power 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 generally produce about 250 to 400 watt-hours per hour, the average home 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.