Solar Panel Cost Guide in Cuba, NY (2023 Update)
- Cuba Solar Installation Cost: $9,540
- 25-Year Savings: $7,206
- Payback Period: 14.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Cuba
Find out what the average cost of a solar system is in Cuba.
In Cuba, solar panels cost about 2.95 per watt on average. The average Cuba homeowner needs a 4.6-kilowatt system, which would cost about $9,540 with the federal tax credit, or $13,642 before the 30% tax credit is applied.
The true cost of your system can go higher or lower than the average in Cuba depending on a few factors, such as the model of solar panels you choose and the solar installer you hire. With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Cuba find investing in solar has a decent ROI.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Cuba
| Year | Return on Investment |
|---|---|
| 1 years | $-9,485 |
| 3 years | $-9,373 |
| 5 years | $-9,261 |
| 7 years | $-9,150 |
| 9 years | $-9,038 |
| 11 years | $-8,926 |
| 13 years | $-8,815 |
| 15 years | $-8,703 |
| 17 years | $-8,591 |
| 19 years | $-8,480 |
| 21 years | $-8,368 |
| 23 years | $-8,257 |
| 25 years | $-8,145 |
Top Solar Installers in Cuba
Installing solar panels by yourself can be a stressful task, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can install solar panels for you. 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
See all of the solar companies in Cuba
Factors that Affect Solar Panel Costs in Cuba
Though the average cost of a solar system in Cuba is $9,540, your actual cost may be higher or lower than that. There are several 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 consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need 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. The kind of solar equipment you choose can increase or decrease your cost 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 electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Cuba average.
Solar Financing Terms
Many homeowners find the average cost of solar in Cuba to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. Even though solar loans make switching to solar energy more accessible for Cuba homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies in Cuba, and each can charge varying amounts for labor and equipment. Additionally, some companies in Cuba know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $8,863 | 14.8 years |
| 8 kW | $3.01 | $16,850 | $12,147 | 14.5 years |
| 10 kW | $2.95 | $20,650 | $15,597 | 14.2 years |
| 12 kW | $2.89 | $24,284 | $19,212 | 14.0 years |
| 14 kW | $2.83 | $27,754 | $22,993 | 13.7 years |
| 16 kW | $2.77 | $31,058 | $26,938 | 13.4 years |
| 18 kW | $2.71 | $34,196 | $31,049 | 13.1 years |
| 20 kW | $2.66 | $37,170 | $35,324 | 12.8 years |
How to Save on Solar Panels
The solar company you go with will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Before signing a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
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 Cuba, NY Solar Cost FAQs
What is the average cost of installing solar panels in Cuba?
This is a difficult question to answer precisely, because the cost depends on many 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. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Cuba is currently $77,119, which means you can look forward to a value of about $3,162 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Cuba is a fruitful investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.