Solar Panel Cost Guide in Brooklyn, NY (Aug 2022)
- Brooklyn Solar Installation Cost: $8,383
- 25-Year Savings: $24,957
- Payback Period: 6.3 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Brooklyn
Let's take a look at the average cost of solar in Brooklyn.
The national average cost of solar panels is $2.66 per watt, but in Brooklyn it's $3 per watt. Using this figure, a typical 3.8 would cost about $8,383 before the federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you may differ based on factors unique to your home and what company you want to go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Brooklyn can save about $33,000 on their energy bills over 20 years.
To receive a free quote from a highly rated solar installation company in Brooklyn, you can click the button below.
Solar savings over time in Brooklyn
| Year | Return on Investment |
|---|---|
| 1 years | $-7,049 |
| 3 years | $-4,382 |
| 5 years | $-1,715 |
| 7 years | $952 |
| 9 years | $3,620 |
| 11 years | $6,287 |
| 13 years | $8,954 |
| 15 years | $11,621 |
| 17 years | $14,288 |
| 19 years | $16,955 |
| 21 years | $19,623 |
| 23 years | $22,290 |
| 25 years | $24,957 |
Top Solar Installers in Brooklyn
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of an installer can make your switch to solar much easier. Some solar companies, especially local ones, can help you make the most of incentives in Brooklyn, optimizing your ROI.
If you'd like to start using solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers nearby:
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
The Green Panel
- 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 Brooklyn
Factors that Affect Solar Panel Costs in Brooklyn
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Brooklyn: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment Size
When it comes to estimating the cost of a solar panel system in Brooklyn, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Brooklyn average.
Solar Financing Terms
Most solar companies in Brooklyn offer solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also adds to your overall costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can play a role in determining your pricing. Brooklyn's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that has the products, warranties and services you're looking for and also fits within 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 | $3.07 | $13,622 | $38,495 | 6.5 years |
| 8 kW | $3.01 | $17,813 | $51,676 | 6.4 years |
| 10 kW | $2.95 | $21,830 | $65,032 | 6.3 years |
| 12 kW | $2.89 | $25,672 | $78,562 | 6.2 years |
| 14 kW | $2.83 | $29,340 | $92,267 | 6.0 years |
| 16 kW | $2.77 | $32,832 | $106,146 | 5.9 years |
| 18 kW | $2.71 | $36,150 | $120,200 | 5.8 years |
| 20 kW | $2.66 | $39,294 | $134,429 | 5.7 years |
Solar Incentives in Brooklyn
| Name | Residential Solar Tax Credit |
| Incentive Amount | 25% for solar-electric (PV) and solar-thermal systems; for third-party owned systems this is in reference to the aggregate amount owed under the contract rather than the amount owed in any single year |
| Incentive Max | $5,000 for solar-energy systems |
| Website | Visit here |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | New York City - Property Tax Abatement for Photovoltaic (PV) and Energy Storage equipment |
| Incentive Amount | Installed from August 5, 2008 to December 31, 2010: 8.75% of system expenditures per year for 4 years (total of 35%); Installed from January 1, 2011 to December 31, 2012: 5% of system expenditures per year for 4 years (total of 20%); Installed from January 1, 2013 to December 31, 2013: 2.5% of system expenditures per year for 4 years (total of 10%) Installed from January 1, 2014 to December 31, 2016: 5% of the system expenditures per year for 4 years Installed from January 1, 2017 to December 31, 2018: 5% of the system expenditures per year for 4 years |
| Incentive Max | $62,500 annually or the amount of real property taxes owed during a year |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Real Property Tax Exemption for Green Buildings |
| Incentive Amount | Upon local adoption, 20% - 100% of real property taxes owed; varies by year and certification level |
| Website | Visit here |
| More Info | Click here |
| Name | NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business) |
| Incentive Amount | Incentive rates step down over time as MW goals are met. Incentive rates as of 11/27/2019 are: Residential: Long Island Region: $0.00/W (MW blocks have been fully subscribed) Con Edison Region: $0.30/W Upstate Region: $0.35/W Low-to-Moderate income customers: $0.80/W (up to 10 kW) Small Commercial (Non-Residential):Long Island Region: $0.00/W (MW blocks have been fully subscribed) Con Edison Region: $0.60/W Up State Region: $0.45/W Multifamily Affordable Housing Adder: additional $0.40/W (up to 50 kW) |
| Website | Visit here |
| More Info | Click here |
| Name | Home Performance with ENERGY STAR |
| Website | Visit here |
| More Info | Click here |
| Name | NY Green Bank |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Solar Sales Tax Exemption |
| Incentive Amount | Upon local authorization, 100% exemption from local sales tax |
| More Info | Click here |
| Name | New York City - Residential Solar Sales Tax Exemption |
| Incentive Amount | 100% local sales tax exemption |
| More Info | Click here |
| Name | Solar Sales Tax Exemption |
| Incentive Amount | 100% exemption from state sales tax |
| Website | Visit here |
| More Info | Click here |
| Name | Energy Conservation Improvements Property Tax Exemption |
| Incentive Amount | 100% of the value added to the residence by the improvements |
| Website | Visit here |
| More Info | Click here |
| Name | NY-Sun Loan Program |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Solar, Wind & Biomass Energy Systems Exemption |
| Incentive Amount | 100% exemption for 15 years (unless local jurisdiction has opted out) |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
There are a lot of companies to choose from in Brooklyn, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: The type of solar panel you need to install plays a role in which company you should choose, since different companies have access to different panels.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- 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 the EcoWatch team.
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
The Green Panel
- 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 Brooklyn, NY Solar Cost FAQs
How much does it cost to install solar panels in Brooklyn?
This is a hard question to answer exactly, because the cost depends on a few different 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. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Brooklyn?
Solar panels aren't free in Brooklyn, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Brooklyn have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of 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 continue to use 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.
