Solar Panel Cost Guide in Bay Shore, NY (2023 Update)
- Bay Shore Solar Installation Cost: $9,930
- 25-Year Savings: $14,345
- Payback Period: 11.1 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Bay Shore
Find out what the average cost of solar panels are in Bay Shore.
The national average cost of solar panels is $2.66 per watt, but in Bay Shore it's 2.95 per watt.To cover the typical energy usage of the average home in Bay Shore, most homeowners require a 3.9-kilowatt system. Using the figure above, a solar installation costs about $8,033, or $11,487 before the federal solar tax credit of 30% is applied.
The true price you pay can go higher or lower than the average in Bay Shore depending on several factors, such as the kind of solar panels you choose and the solar installer you hire.But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $22,000 over 20 years on electricity bills.
Click the button below to get connected to a highly rated solar installer in Bay Shore for a personalized quote.
Solar savings over time in Bay Shore
| Year | Return on Investment |
|---|---|
| 1 years | $-8,405 |
| 3 years | $-5,354 |
| 5 years | $-2,303 |
| 7 years | $747 |
| 9 years | $3,798 |
| 11 years | $6,849 |
| 13 years | $9,899 |
| 15 years | $12,950 |
| 17 years | $16,001 |
| 19 years | $19,051 |
| 21 years | $22,102 |
| 23 years | $25,153 |
| 25 years | $28,204 |
Top Solar Installers in Bay Shore
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make swapping over to solar power much easier. Plus, if you'd like to maximize your investment in solar, going with a solar company can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
If you'd like to switch to solar energy but still aren't sure which solar panel company to go with, here are our suggestions for providers in Bay Shore:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Bay Shore
Factors that Affect Solar Panel Costs in Bay Shore
Although the average cost of a solar system in Bay Shore is $8,033, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production use 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 $2,950.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Bay Shore, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
Most solar companies in Bay Shore offer solar loans, which reduce the initial cost of installing solar.It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you choose will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $18,592 | 11.5 years |
| 8 kW | $3.72 | $20,849 | $25,198 | 11.3 years |
| 10 kW | $3.65 | $25,550 | $32,009 | 11.1 years |
| 12 kW | $3.58 | $30,047 | $39,024 | 10.9 years |
| 14 kW | $3.50 | $34,339 | $46,243 | 10.7 years |
| 16 kW | $3.43 | $38,427 | $53,667 | 10.4 years |
| 18 kW | $3.36 | $42,311 | $61,295 | 10.2 years |
| 20 kW | $3.29 | $45,990 | $69,128 | 10.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Bay Shore, NY Solar Cost FAQs
What is the average cost of installing solar panels in Bay Shore?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Bay Shore?
Leasing solar panels can be an appealing choice, as it usually 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 option if you want to get the most savings.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,151.18 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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.