Solar Panel Cost Guide in Oyster Bay, NY (2024 Update)
- Oyster Bay 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 Oyster Bay
Find out what the average cost of solar panel installation is in Oyster Bay.
The average cost of a solar system in Oyster Bay is 4 per watt.The average Oyster Bay homeowner needs a 3.8-kilowatt system, which would cost about $9,833 with the federal tax credit, or $14,061 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of going solar can vary quite a bit based on several factors, such as what size system you need, your energy usage and what solar installer you go with.Many homeowners find going solar is a rewarding investment. The average homeowner in Oyster Bay can save about $22,000 on their power bills over 20 years.
To receive a free estimate from a top solar installer in Oyster Bay, you can click the button below.
Solar savings over time in Oyster Bay
| 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 Oyster Bay
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with an installer can make your swap to solar power much easier. The payback period on an investment in solar panels will vary depending on factors like your location and energy needs, but working with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
If you’d like to go solar but still aren’t certain which solar installer to go with, here are our suggestions for providers in Oyster Bay:
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 Oyster Bay
Factors that Affect Solar Panel Costs in Oyster Bay
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Oyster Bay: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Oyster Bay, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $3,650 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Oyster Bay, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Oyster Bay homeowners choose to finance their solar panel systems to offset upfront costs.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’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 getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Oyster Bay know more 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 | $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
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Solar Panel Brands: Different companies will have different brands and models of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
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 Oyster Bay, NY Solar Cost FAQs
How much does it cost to install solar panels in Oyster Bay?
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 additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,162.61 per year.
How often do you have to replace solar panels?
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 their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.