Solar Panel Cost Guide in Greece, NY (2024 Update)
- Greece Solar Installation Cost: $10,653
- 25-Year Savings: $8,437
- Payback Period: 15.6 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Greece
We go over average solar pricing in Greece.
The national average cost of solar panels is $2.66 per watt, but in Greece it’s 4 per watt.The average Greece homeowner needs a 4.2-kilowatt system, which would cost about $10,653 with the federal tax credit, or $15,234 before the 0 tax credit is applied.
These figures are just averages, and how much solar costs for you will most likely look different based on your specific situation and what company you want to go with.For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $16,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Greece
Year | Return on Investment |
---|---|
1 years | $-9,746 |
3 years | $-7,932 |
5 years | $-6,119 |
7 years | $-4,305 |
9 years | $-2,491 |
11 years | $-678 |
13 years | $1,136 |
15 years | $2,949 |
17 years | $4,763 |
19 years | $6,577 |
21 years | $8,390 |
23 years | $10,204 |
25 years | $12,018 |
Top Solar Installers in Greece
When switching to solar energy, many homeowners prefer to hire a solar installation company since installing a solar system yourself can be a difficult project. Another advantage of going with a solar installer is that they can help you maximize your ROI by reducing your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Greece
Factors that Affect Solar Panel Costs in Greece
There are a number of criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,650. There are several different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Greece, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Greece, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
---|---|---|---|---|
6 kW | $3.80 | $15,943 | $8,587 | 16.2 years |
8 kW | $3.72 | $20,849 | $11,859 | 15.9 years |
10 kW | $3.65 | $25,550 | $15,334 | 15.6 years |
12 kW | $3.58 | $30,047 | $19,015 | 15.3 years |
14 kW | $3.50 | $34,339 | $22,899 | 15.0 years |
16 kW | $3.43 | $38,427 | $26,988 | 14.7 years |
18 kW | $3.36 | $42,311 | $31,281 | 14.4 years |
20 kW | $3.29 | $45,990 | $35,779 | 14.1 years |
How to Save on Solar Panels
There are many companies available in Greece, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Greece, NY Solar Cost FAQs
What is the average cost of installing solar panels in Greece?
The average cost of solar panels in Greece is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Greece?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $817.69 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.