Solar Panel Cost Guide in Holbrook, NY (Sep 2022)
- Holbrook Solar Installation Cost: $8,033
- 25-Year Savings: $14,338
- Payback Period: 9.0 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Holbrook
Find out what the average cost of solar panels are in Holbrook.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Holbrook, the typical cost of solar panels is $3 per watt. Using this figure, a typical 3.9 would cost about $8,033 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. For many homeowners, the upfront investment in solar is worth paying. On average Holbrook homeowners see about $22,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a top solar company in Holbrook that can help you get a more accurate cost estimate for your home.
Solar savings over time in Holbrook
| Year | Return on Investment |
|---|---|
| 1 years | $-7,138 |
| 3 years | $-5,348 |
| 5 years | $-3,559 |
| 7 years | $-1,769 |
| 9 years | $21 |
| 11 years | $1,810 |
| 13 years | $3,600 |
| 15 years | $5,390 |
| 17 years | $7,179 |
| 19 years | $8,969 |
| 21 years | $10,759 |
| 23 years | $12,548 |
| 25 years | $14,338 |
Top Solar Installers in Holbrook
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with a solar panel installer can make converting to solar power much easier. Some solar companies, particularly local ones, can help you better understand incentives in Holbrook, therefore optimizing your ROI.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Holbrook
Factors that Affect Solar Panel Costs in Holbrook
While the average cost of solar panels in Holbrook is $8,033, your actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment Size
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size. Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,950. The kind of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Holbrook, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $21,650 | 9.3 years |
| 8 kW | $3.01 | $16,850 | $29,197 | 9.1 years |
| 10 kW | $2.95 | $20,650 | $36,909 | 9.0 years |
| 12 kW | $2.89 | $24,284 | $44,786 | 8.8 years |
| 14 kW | $2.83 | $27,754 | $52,829 | 8.6 years |
| 16 kW | $2.77 | $31,058 | $61,037 | 8.4 years |
| 18 kW | $2.71 | $34,196 | $69,410 | 8.3 years |
| 20 kW | $2.66 | $37,170 | $77,948 | 8.1 years |
Solar Incentives in Holbrook
| Name | Residential Solar Tax Credit |
| Incentive Amount | 25% for solar-electric (PV) and solar-thermal systems; for third-party owned systems this is in reference to the aggregate amount owed under the contract rather than the amount owed in any single year |
| Incentive Max | $5,000 for solar-energy systems |
| Website | Visit here |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Local Option - Real Property Tax Exemption for Green Buildings |
| Incentive Amount | Upon local adoption, 20% - 100% of real property taxes owed; varies by year and certification level |
| Website | Visit here |
| More Info | Click here |
| Name | NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business) |
| Incentive Amount | Incentive rates step down over time as MW goals are met. Incentive rates as of 11/27/2019 are: Residential: Long Island Region: $0.00/W (MW blocks have been fully subscribed) Con Edison Region: $0.30/W Upstate Region: $0.35/W Low-to-Moderate income customers: $0.80/W (up to 10 kW) Small Commercial (Non-Residential):Long Island Region: $0.00/W (MW blocks have been fully subscribed) Con Edison Region: $0.60/W Up State Region: $0.45/W Multifamily Affordable Housing Adder: additional $0.40/W (up to 50 kW) |
| Website | Visit here |
| More Info | Click here |
| Name | Home Performance with ENERGY STAR |
| Website | Visit here |
| More Info | Click here |
| Name | NY Green Bank |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Solar Sales Tax Exemption |
| Incentive Amount | Upon local authorization, 100% exemption from local sales tax |
| More Info | Click here |
| Name | Solar Sales Tax Exemption |
| Incentive Amount | 100% exemption from state sales tax |
| Website | Visit here |
| More Info | Click here |
| Name | Energy Conservation Improvements Property Tax Exemption |
| Incentive Amount | 100% of the value added to the residence by the improvements |
| Website | Visit here |
| More Info | Click here |
| Name | NY-Sun Loan Program |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Solar, Wind & Biomass Energy Systems Exemption |
| Incentive Amount | 100% exemption for 15 years (unless local jurisdiction has opted out) |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: Solar system installers 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.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
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 Holbrook, NY Solar Cost FAQs
How much does it cost to install solar panels in Holbrook?
This is a hard question to answer precisely, because the cost depends on a variety of 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Holbrook?
You can't get solar panels for free in Holbrook. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is switching to solar power worth it?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
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 higher amount 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.
