Solar Panel Cost Guide in Herricks, NY (2023 Update)
- Herricks Solar Installation Cost: $7,950
- 25-Year Savings: $18,077
- Payback Period: 7.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Herricks
Find out what the average cost of solar panels are in Herricks.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Herricks, the typical cost of solar panels is 2.95 per watt. Because a 3.9-kW system is needed to cover the energy usage of a typical home in Herricks, the average price of going solar will be about $7,950 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Herricks 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. For most homeowners, the upfront investment in solar power is worth paying. On average Herricks homeowners see about $26,000 in savings on energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Herricks
| Year | Return on Investment |
|---|---|
| 1 years | $-6,909 |
| 3 years | $-4,827 |
| 5 years | $-2,745 |
| 7 years | $-663 |
| 9 years | $1,420 |
| 11 years | $3,502 |
| 13 years | $5,584 |
| 15 years | $7,666 |
| 17 years | $9,748 |
| 19 years | $11,830 |
| 21 years | $13,913 |
| 23 years | $15,995 |
| 25 years | $18,077 |
Top Solar Installers in Herricks
Although you can install solar panels on your own, it involves extra effort and handiness. That's why most homeowners choose to go with a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be right for your home.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Herricks:
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 Herricks
Factors that Affect Solar Panel Costs in Herricks
Though the average cost of a solar system in Herricks is $7,950, your actual cost may differ. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $2,950 per kilowatt in Herricks. There are many different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking 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
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Herricks, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Herricks is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for example, you'll have many options for solar installers that offer a range of services at different price points. Additionally, some companies in Herricks are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $27,693 | 7.9 years |
| 8 kW | $3.01 | $16,850 | $37,255 | 7.8 years |
| 10 kW | $2.95 | $20,650 | $46,981 | 7.6 years |
| 12 kW | $2.89 | $24,284 | $56,873 | 7.5 years |
| 14 kW | $2.83 | $27,754 | $66,930 | 7.3 years |
| 16 kW | $2.77 | $31,058 | $77,152 | 7.2 years |
| 18 kW | $2.71 | $34,196 | $87,540 | 7.0 years |
| 20 kW | $2.66 | $37,170 | $98,092 | 6.9 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: The model of solar panel you want to get plays a part in which installer you should choose, since different companies have different panels.
- 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 you can expect 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
EcoWatch's Herricks, NY Solar Cost FAQs
How much does it cost to install solar panels in Herricks?
The average cost of solar panels in Herricks 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Herricks?
Leasing solar panels can be an appealing choice, as it often 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Do solar panels increase your property value?
Solar panels can increase the value of your home 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 solar panels."
How long do solar panels last in Herricks?
Though 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 how much 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.