Solar Panel Cost Guide in Baywood, NY (Oct 2022)
- Baywood Solar Installation Cost: $8,033
- 25-Year Savings: $14,338
- Payback Period: 9.0 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Baywood
We break down average solar pricing in Baywood.
The average cost of a solar system in Baywood is $3 per watt. Because a 3.9-kW system is needed to cover the energy costs of a typical home in Baywood, the average price of going solar will be about $8,033 before claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Baywood homeowner. 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. Despite the large initial cost, the average Baywood homeowner can save about $22,000 on their power bills over 20 years, which is one of the perks of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Baywood
| Year | Return on Investment |
|---|---|
| 1 years | $-7,138 |
| 3 years | $-5,348 |
| 5 years | $-3,559 |
| 7 years | $-1,769 |
| 9 years | $21 |
| 11 years | $1,810 |
| 13 years | $3,600 |
| 15 years | $5,390 |
| 17 years | $7,179 |
| 19 years | $8,969 |
| 21 years | $10,759 |
| 23 years | $12,548 |
| 25 years | $14,338 |
Top Solar Installers in Baywood
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar panel installer can make swapping over to solar power much easier. The payback period of solar panels will vary depending on factors like your roof configuration and energy usage, but working with a solar installer can shorten that period. Your provider will be able to help you identify incentives available in your area.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Baywood
Factors that Affect Solar Panel Costs in Baywood
Though the average cost of solar panels in Baywood is $8,033, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the system you need is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Baywood, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Baywood to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to paying more over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you choose will impact your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Baywood know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $3.07 | $12,886 | $21,650 | 9.3 years |
| 8 kW | $3.01 | $16,850 | $29,197 | 9.1 years |
| 10 kW | $2.95 | $20,650 | $36,909 | 9.0 years |
| 12 kW | $2.89 | $24,284 | $44,786 | 8.8 years |
| 14 kW | $2.83 | $27,754 | $52,829 | 8.6 years |
| 16 kW | $2.77 | $31,058 | $61,037 | 8.4 years |
| 18 kW | $2.71 | $34,196 | $69,410 | 8.3 years |
| 20 kW | $2.66 | $37,170 | $77,948 | 8.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: The kind of solar panel you need plays a part in which installer you should opt for, since different companies have access to different panels.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Baywood, NY Solar Cost FAQs
How much does it cost to install solar panels in Baywood?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Baywood?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Baywood?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having 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.
