Solar Panel Cost Guide in Coram, NY (Sep 2022)

  • Coram Solar Installation Cost: $8,033
  • 25-Year Savings: $14,338
  • Payback Period: 9.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Coram

We go over average solar pricing in Coram.

The average cost of solar panels in Coram is $3 per watt. The average solar panel system size in Coram is around 3.9 kilowatts, meaning a cost of about $8,033 for a solar installation, or $5,944 after the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of solar panels. The actual 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 company you go with. With typical savings of about $22,000 on utility bills over 20 years, many homeowners in Coram find investing in solar can be quite rewarding.

To receive a free estimate from a pre-vetted solar company in Coram, you can click the button below.

Solar savings over time in Coram

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 Coram

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make your switch to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.

You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Coram:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Coram

Factors that Affect Solar Panel Costs in Coram

For many Coram homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Coram, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size. Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,950. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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, higher efficiency could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Coram average.

Solar Financing Terms

Many homeowners find the average cost of solar in Coram to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. However, the interest on solar loans also adds to your overall costs, so it's important to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

Finally, the company you opt for to install your solar panels can impact the cost. Coram's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.

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

Solar Incentives in Coram

Name State of NY Commercial PACE Financing Program
Incentive Amount Locally determined
Website Visit here
More Info Click here

Name Residential Solar Tax Credit
Website Visit here
More Info Click here

Name Refundable Clean Heating Fuel Tax Credit (Corporate)
More Info Click here

Name NY-Sun Loan Program
Website Visit here
More Info Click here

Name Residential Wood Heating Fuel Exemption
Incentive Amount 100% exemption
More Info Click here

Name Local Option - Solar Sales Tax Exemption
More Info Click here

Name Solar Sales Tax Exemption
Website Visit here
More Info Click here

Name Local Option - Real Property Tax Exemption for Green Buildings
Website Visit here
More Info Click here

Name Energy Conservation Improvements Property Tax Exemption
Website Visit here
More Info Click here

Name Local Option - Solar, Wind & Biomass Energy Systems Exemption
Website Visit here
More Info Click here

Name NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business)
Website Visit here
More Info Click here

Name PSEG Long Island - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Ground Source Heat Pump Rebate Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR
Incentive Amount
Website Visit here
More Info Click here

Name NY Green Bank
Website Visit here
More Info Click here

Name Refundable Clean Heating Fuel Tax Credit (Personal)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:

  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
  • Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
  • Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project timeline incentives and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Coram, NY Solar Cost FAQs

How much does it cost to install solar panels in Coram?

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 above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Is cost the most important thing to keep in mind when buying solar panels?

Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Do solar panels increase your home value?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Coram is currently $339,921, so you can look forward to a value of about $13,937 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Coram is a worthwhile investment.

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 decide to 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.

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