Solar Panel Cost Guide in Lackawanna, NY (2023 Update)
- Lackawanna Solar Installation Cost: $9,453
- 25-Year Savings: $6,285
- Payback Period: 15.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lackawanna
Let's take a look at the average cost of solar in Lackawanna.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lackawanna, the average cost of a solar system is 2.95 per watt. To cover the typical energy usage of the average home in Lackawanna, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $9,458, or $13,525 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Lackawanna homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Lackawanna see about $13,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar company in your area for a custom quote.
Solar savings over time in Lackawanna
| Year | Return on Investment |
|---|---|
| 1 years | $-8,586 |
| 3 years | $-6,851 |
| 5 years | $-5,117 |
| 7 years | $-3,382 |
| 9 years | $-1,648 |
| 11 years | $87 |
| 13 years | $1,821 |
| 15 years | $3,556 |
| 17 years | $5,290 |
| 19 years | $7,025 |
| 21 years | $8,759 |
| 23 years | $10,494 |
| 25 years | $12,228 |
Top Solar Installers in Lackawanna
Although it's possible to install solar panels by yourself, it takes extra time and handiness. For that reason, the majority of homeowners choose to go with a solar panel installer. Another great thing about choosing a vetted solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
If you're searching for a solar installer in Lackawanna, the EcoWatch team has put together 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
See all of the solar companies in Lackawanna
Factors that Affect Solar Panel Costs in Lackawanna
There are many 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 does the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The brand and kind of equipment you want 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Lackawanna have solar loans, which reduce your upfront costs of installing a solar system. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you select will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. 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 choose 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 | $7,742 | 15.6 years |
| 8 kW | $3.01 | $16,850 | $10,653 | 15.3 years |
| 10 kW | $2.95 | $20,650 | $13,730 | 15.0 years |
| 12 kW | $2.89 | $24,284 | $16,971 | 14.7 years |
| 14 kW | $2.83 | $27,754 | $20,378 | 14.4 years |
| 16 kW | $2.77 | $31,058 | $23,950 | 14.1 years |
| 18 kW | $2.71 | $34,196 | $27,687 | 13.8 years |
| 20 kW | $2.66 | $37,170 | $31,590 | 13.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
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 Lackawanna, NY Solar Cost FAQs
How much does it cost to install solar panels in Lackawanna?
This is a tough question to answer precisely, because the cost depends on many 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 higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Lackawanna, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Lackawanna?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.