Solar Panel Cost Guide in Greenburgh, NY (Oct 2022)
- Greenburgh Solar Installation Cost: $8,652
- 25-Year Savings: $24,687
- Payback Period: 6.5 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Greenburgh
Let's have a look at the average cost of solar in Greenburgh.
While the national average of solar panels is $2.66 per watt, solar panels in Greenburgh typically cost around $3. Using this figure, a typical 4.2 would cost about $8,652 before the 30% federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you may vary based on the amount of energy your home requires and what company you want to go with. Even with the significant upfront cost, the average Greenburgh homeowner can save about $30,000 on their electricity bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a vetted solar company in Greenburgh that can help you get a more accurate cost estimate for your home.
Solar savings over time in Greenburgh
| Year | Return on Investment |
|---|---|
| 1 years | $-7,319 |
| 3 years | $-4,652 |
| 5 years | $-1,984 |
| 7 years | $683 |
| 9 years | $3,350 |
| 11 years | $6,017 |
| 13 years | $8,684 |
| 15 years | $11,351 |
| 17 years | $14,019 |
| 19 years | $16,686 |
| 21 years | $19,353 |
| 23 years | $22,020 |
| 25 years | $24,687 |
Top Solar Installers in Greenburgh
Trying to put up solar panels by yourself can be a difficult task, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar companies provide can be valuable as well, especially if you don't quite know what brand of solar equipment would be right for your home.
If you're on the hunt for a solar company in Greenburgh, the EcoWatch team has organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
The Green Panel
- 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 Greenburgh
Factors that Affect Solar Panel Costs in Greenburgh
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Greenburgh: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment Size
The size of the system you need is one of the largest factors that influences the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Greenburgh homeowners choose to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's important to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in Greenburgh, and each can charge varying amounts for labor and equipment. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower 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 | $34,898 | 6.7 years |
| 8 kW | $3.01 | $16,850 | $46,861 | 6.6 years |
| 10 kW | $2.95 | $20,650 | $58,989 | 6.5 years |
| 12 kW | $2.89 | $24,284 | $71,283 | 6.4 years |
| 14 kW | $2.83 | $27,754 | $83,741 | 6.2 years |
| 16 kW | $2.77 | $31,058 | $96,365 | 6.1 years |
| 18 kW | $2.71 | $34,196 | $109,154 | 6.0 years |
| 20 kW | $2.66 | $37,170 | $122,108 | 5.8 years |
Solar Incentives in Greenburgh
| 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 | 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
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
The Green Panel
- 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 Greenburgh, NY Solar Cost FAQs
How much does it cost to install solar panels in Greenburgh?
This is a tough question to answer precisely, because the cost depends on many 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 more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Greenburgh?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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.
Do solar panels increase the value of your home?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Greenburgh?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use 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.
