Solar Panel Cost Guide in Cedarhurst, NY (2023 Update)
- Cedarhurst Solar Installation Cost: $7,947
- 25-Year Savings: $19,908
- Payback Period: 7.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cedarhurst
We break down average solar pricing in Cedarhurst.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cedarhurst, the typical cost of a solar system is 2.95 per watt. Using this figure, a typical 3.9-kW system would cost about $7,950 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of going solar can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what solar installer you go with. With average savings of about $28,000 on power bills over 20 years, many homeowners in Cedarhurst find investing in solar has a decent ROI.
Click the button below to get connected to a highly rated solar company in your area for a custom estimate.
Solar savings over time in Cedarhurst
| Year | Return on Investment |
|---|---|
| 1 years | $-6,067 |
| 3 years | $-2,308 |
| 5 years | $1,452 |
| 7 years | $5,211 |
| 9 years | $8,970 |
| 11 years | $12,730 |
| 13 years | $16,489 |
| 15 years | $20,248 |
| 17 years | $24,008 |
| 19 years | $27,767 |
| 21 years | $31,527 |
| 23 years | $35,286 |
| 25 years | $39,045 |
Top Solar Installers in Cedarhurst
Installing solar panels yourself can be a stressful project, which is why getting a solar installer is a good option for many homeowners. A solar company can also help save you money in the long run by providing warranties, repairs and part replacements.
If you're searching for a solar company in Cedarhurst, the EcoWatch team has compiled a list of our top suggestions here:
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 Cedarhurst
Factors that Affect Solar Panel Costs in Cedarhurst
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Cedarhurst: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,950. There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Cedarhurst homeowners choose to finance their solar panel systems to make paying for solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Cedarhurst, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $30,543 | 7.4 years |
| 8 kW | $3.01 | $16,850 | $41,055 | 7.3 years |
| 10 kW | $2.95 | $20,650 | $51,732 | 7.1 years |
| 12 kW | $2.89 | $24,284 | $62,573 | 7.0 years |
| 14 kW | $2.83 | $27,754 | $73,581 | 6.8 years |
| 16 kW | $2.77 | $31,058 | $84,753 | 6.7 years |
| 18 kW | $2.71 | $34,196 | $96,090 | 6.6 years |
| 20 kW | $2.66 | $37,170 | $107,593 | 6.4 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: The type of solar panel you'd like to install plays a part in which installer you should choose, since different companies provide different panels.
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 Cedarhurst, NY Solar Cost FAQs
What is the average cost of installing solar panels in Cedarhurst?
This is a tough 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. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Cedarhurst?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Is making the switch to solar worth it?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Cedarhurst?
On average, solar panels can last 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 level 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.