Solar Panel Cost Guide in Greece, NY (2023 Update)
- Greece Solar Installation Cost: $8,611
- 25-Year Savings: $8,435
- Payback Period: 12.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Greece
Find out how much it might cost to switch to solar power in Greece.
The average cost of a solar system in Greece is 2.95 per watt. To account for the typical energy usage of the average home in Greece, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,611, or $12,314 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of equipment you want to get, your solar contractor and more. With average savings of about $16,000 on electricity bills over 20 years, many homeowners in Greece find installing solar panels has a decent ROI.
You can click the button below to get connected with a vetted solar company in Greece that can help you get a more accurate cost estimate for your home.
Solar savings over time in Greece
| Year | Return on Investment |
|---|---|
| 1 years | $-7,929 |
| 3 years | $-6,565 |
| 5 years | $-5,202 |
| 7 years | $-3,838 |
| 9 years | $-2,474 |
| 11 years | $-1,111 |
| 13 years | $253 |
| 15 years | $1,617 |
| 17 years | $2,980 |
| 19 years | $4,344 |
| 21 years | $5,708 |
| 23 years | $7,072 |
| 25 years | $8,435 |
Top Solar Installers in Greece
When switching to solar energy, many homeowners decide to use a solar installation company since installing solar panels yourself can be a challenging project. The expertise that solar installers provide can be helpful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
There are various 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 Greece
Factors that Affect Solar Panel Costs in Greece
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Greece: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Greece, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. 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 opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, extra products, such as solar batteries, can bring your total well above the Greece average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Greece homeowners opt to finance their solar panel systems to make paying for solar more affordable. Though solar loans make adopting solar energy more accessible for Greece homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can play a role in determining how much you pay. Greece's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a company that has the products, warranties and services you're looking for and also fits within your budget.
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 | $11,645 | 13.1 years |
| 8 kW | $3.01 | $16,850 | $15,857 | 12.9 years |
| 10 kW | $2.95 | $20,650 | $20,234 | 12.6 years |
| 12 kW | $2.89 | $24,284 | $24,777 | 12.4 years |
| 14 kW | $2.83 | $27,754 | $29,485 | 12.1 years |
| 16 kW | $2.77 | $31,058 | $34,358 | 11.9 years |
| 18 kW | $2.71 | $34,196 | $39,396 | 11.6 years |
| 20 kW | $2.66 | $37,170 | $44,599 | 11.4 years |
How to Save on Solar Panels
There are a large number of companies available in Greece, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: The brand of solar panel you want plays a part in which installer you should choose, since different companies provide different panels.
- Contract: Before signing a contract with a solar installer, 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 if there are any guarantees about energy production.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Warranty: If you're worried about the endurance of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Greece, NY Solar Cost FAQs
How much does it cost to install solar panels in Greece?
The average cost of solar panels in Greece is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Greece?
A solar panel system isn't free in Greece, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in Greece?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs 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.