Solar Panel Cost Guide in Elmont, NY (Oct 2022)

  • Elmont Solar Installation Cost: $7,950
  • 25-Year Savings: $19,905
  • Payback Period: 7.1 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 Elmont

Let's take a look at the average cost of solar panels in Elmont.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Elmont, the typical cost of solar panels is $3 per watt. The average Elmont homeowner needs a 3.9-kilowatt system, which would cost about $7,950, or $5,883 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what company you go with. Even with the significant initial cost, the average Elmont homeowner can save about $28,000 on their power bills over 20 years, which is one of the positives of solar.

You can click the button below to get connected with a pre-vetted solar installer in Elmont for a quote for your home.

Solar savings over time in Elmont

Year Return on Investment
1 years $-6,836
3 years $-4,608
5 years $-2,379
7 years $-151
9 years $2,078
11 years $4,306
13 years $6,534
15 years $8,763
17 years $10,991
19 years $13,220
21 years $15,448
23 years $17,677
25 years $19,905

Top Solar Installers in Elmont

Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make your swap to solar power much easier. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.

If you're looking for a solar company in Elmont, the EcoWatch team has compiled a list of our top suggestions here:

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 Elmont

Factors that Affect Solar Panel Costs in Elmont

Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Elmont: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.

Solar Equipment Size

One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,950 per kilowatt in Elmont. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Elmont to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

A final factor to consider when trying to estimate the cost of solar for your home or business in Elmont is the company you choose to install your PV system. As with choosing a company to install new cabinets, for example, you'll have no shortage of solar installers that provide a range of services at different price points. Additionally, some companies in Elmont are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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 $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

Solar Incentives in Elmont

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 On-Site Wind Incentive Program
Website Visit here
More Info Click here

Name Anaerobic Digester Gas-to-Electricity Rebate and Performance Incentive
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

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:

  • Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
  • 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 most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
  • Solar Panel Brands: Different companies have various brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
  • Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.

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 Elmont, NY Solar Cost FAQs

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

The average cost of solar panels in Elmont is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.

Is it better to lease or buy solar panels in Elmont?

Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 bang for your buck from going solar.

Can solar panels eliminate my power bills?

Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,447.63 per year.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.

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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