Solar Panel Cost Guide in Great Neck Plaza, NY (2023 Update)
- Great Neck Plaza Solar Installation Cost: $7,950
- 25-Year Savings: $14,421
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Great Neck Plaza
Let's take a look at the average cost of solar in Great Neck Plaza.
While the national average of solar panels is $2.66 per watt, solar panels in Great Neck Plaza generally cost around 2.95. Using this figure, a typical 3.9-kW system would cost about $7,950 before the 30% federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will vary based on your specific situation and what company you go with. Despite the large initial cost, the average Great Neck Plaza homeowner can save around $22,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a vetted solar installer in Great Neck Plaza for a quote for your home.
Solar savings over time in Great Neck Plaza
| Year | Return on Investment |
|---|---|
| 1 years | $-7,055 |
| 3 years | $-5,266 |
| 5 years | $-3,476 |
| 7 years | $-1,686 |
| 9 years | $103 |
| 11 years | $1,893 |
| 13 years | $3,683 |
| 15 years | $5,472 |
| 17 years | $7,262 |
| 19 years | $9,052 |
| 21 years | $10,841 |
| 23 years | $12,631 |
| 25 years | $14,421 |
Top Solar Installers in Great Neck Plaza
Although it's possible to install solar panels yourself, it requires extra labor and expertise. That's one of the reasons most people choose to hire a solar panel installer. Plus, if you're not certain what kind of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you'd like to go solar but still aren't sure which solar panel installer to go with, here are our recommendations for providers near you:
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 Plaza
Factors that Affect Solar Panel Costs in Great Neck Plaza
The cost of installing a solar system in Great Neck Plaza can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,950. There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also cost more. 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 big investment. That's why many Great Neck Plaza homeowners decide to finance their solar panel systems to offset upfront costs. Even though solar loans make switching to solar energy more accessible for Great Neck Plaza homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Great Neck Plaza, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Great Neck Plaza know more about local solar incentives and can help you take advantage of 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 end up saving you 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 | $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
Since the brand of solar panels and the company you choose greatly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The model of solar panel you want to install plays a role in which company you should go with, since different companies offer different panels.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Contract: Before you sign a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Plaza, NY Solar Cost FAQs
What is the average cost of installing solar panels in Great Neck Plaza?
This is a tough question to answer exactly, because the cost depends on many 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. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Great Neck Plaza?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.