Solar Panel Cost Guide in Great Neck, NY (2023 Update)
- Great Neck Solar Installation Cost: $7,947
- 25-Year Savings: $14,424
- Payback Period: 8.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Great Neck
Find out what the average cost of solar panel installation is in Great Neck.
The average cost of a solar system in Great Neck is 2.95 per watt. The average Great Neck homeowner needs a 3.9-kilowatt system, which would cost about $7,950 with the federal tax credit, or $11,368 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Great Neck homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find going solar is a solid investment. The average homeowner in Great Neck can save about $22,000 on their energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Great Neck
| Year | Return on Investment |
|---|---|
| 1 years | $-6,422 |
| 3 years | $-3,371 |
| 5 years | $-320 |
| 7 years | $2,731 |
| 9 years | $5,781 |
| 11 years | $8,832 |
| 13 years | $11,883 |
| 15 years | $14,933 |
| 17 years | $17,984 |
| 19 years | $21,035 |
| 21 years | $24,085 |
| 23 years | $27,136 |
| 25 years | $30,187 |
Top Solar Installers in Great Neck
Many homeowners opt for a solar panel installer since figuring out how to install solar panels on your own can be time-consuming. Also, companies with a high reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you'd like to go solar but still aren't certain which solar installer 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
See all of the solar companies in Great Neck
Factors that Affect Solar Panel Costs in Great Neck
There are a number of criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The type 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, higher efficiency could save you more over time on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Great Neck average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Great Neck, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. While solar loans make switching to solar energy more accessible for Great Neck homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Great Neck is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that provide a range of services for different budgets. The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access 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 promotion can bring their pricing down to compete with bigger names.
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 | $21,993 | 9.2 years |
| 8 kW | $3.01 | $16,850 | $29,654 | 9.1 years |
| 10 kW | $2.95 | $20,650 | $37,480 | 8.9 years |
| 12 kW | $2.89 | $24,284 | $45,472 | 8.7 years |
| 14 kW | $2.83 | $27,754 | $53,629 | 8.5 years |
| 16 kW | $2.77 | $31,058 | $61,951 | 8.3 years |
| 18 kW | $2.71 | $34,196 | $70,438 | 8.2 years |
| 20 kW | $2.66 | $37,170 | $79,091 | 8.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Before signing a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
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 Great Neck, NY Solar Cost FAQs
What is the average cost of installing solar panels in Great Neck?
This is a tough question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want additional 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.
Are solar panels free in Great Neck?
You can't get solar panels for free in Great Neck. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Great Neck?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Great Neck?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using 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.