Solar Panel Cost Guide in North New Hyde Park, NY (2024 Update)
- North New Hyde Park Solar Installation Cost: $9,833
- 25-Year Savings: $18,812
- Payback Period: 9.2 Years
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Average Cost of Solar Panels in North New Hyde Park
Let’s take a look at the average cost of solar in North New Hyde Park.
The national average cost of solar panels is $2.66 per watt, but in North New Hyde Park it’s 4 per watt.Using this figure, a typical 3.8-kW system would cost about $9,833 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average North New Hyde Park homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $26,000 on utility bills over 20 years, many homeowners in North New Hyde Park find investing in solar has a decent ROI.
You can click the button below to get connected with a vetted solar installer in North New Hyde Park for a quote for your home.
Solar savings over time in North New Hyde Park
| Year | Return on Investment |
|---|---|
| 1 years | $-8,071 |
| 3 years | $-4,548 |
| 5 years | $-1,025 |
| 7 years | $2,498 |
| 9 years | $6,022 |
| 11 years | $9,545 |
| 13 years | $13,068 |
| 15 years | $16,591 |
| 17 years | $20,114 |
| 19 years | $23,637 |
| 21 years | $27,160 |
| 23 years | $30,684 |
| 25 years | $34,207 |
Top Solar Installers in North New Hyde Park
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make swapping over to solar power much easier. Some solar installers, particularly local ones, can help you make the most of incentives in North New Hyde Park, therefore optimizing your ROI.
If you’d like to make the switch to solar but still aren’t sure which solar system company to go with, here are our recommendations for providers near you:
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 North New Hyde Park
Factors that Affect Solar Panel Costs in North New Hyde Park
For many North New Hyde Park homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in North New Hyde Park, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,650. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof 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. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in North New Hyde Park to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.While solar loans make going solar more accessible for North New Hyde Park homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout North New Hyde Park, and each can charge varying amounts for labor and equipment.Additionally, some companies in North New Hyde Park are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $25,776 | 9.6 years |
| 8 kW | $3.72 | $20,849 | $34,776 | 9.4 years |
| 10 kW | $3.65 | $25,550 | $43,981 | 9.2 years |
| 12 kW | $3.58 | $30,047 | $53,391 | 9.0 years |
| 14 kW | $3.50 | $34,339 | $63,005 | 8.8 years |
| 16 kW | $3.43 | $38,427 | $72,823 | 8.6 years |
| 18 kW | $3.36 | $42,311 | $82,846 | 8.5 years |
| 20 kW | $3.29 | $45,990 | $93,073 | 8.3 years |
How to Save on Solar Panels
There are many companies available in North New Hyde Park, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: The type of solar panel you want plays a role in which company you should opt for, since different companies have access to different panels.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
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 North New Hyde Park, NY Solar Cost FAQs
What is the average cost of installing solar panels in North New Hyde Park?
The average cost of solar panels in North New Hyde Park 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 type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in North New Hyde Park?
Leasing solar panels can be an appealing choice, because it typically 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Does North New Hyde Park have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.