Solar Panel Cost Guide in Lackawanna, NY (2023 Update)
- Lackawanna Solar Installation Cost: $9,458
- 25-Year Savings: $6,280
- Payback Period: 15.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lackawanna
Let's have a look at the average cost of solar panels in Lackawanna.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lackawanna, the typical cost of a solar system is 2.95 per watt. To account for 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.
The true cost of your system can be above or below the average in Lackawanna depending on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Lackawanna can save around $13,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Lackawanna for a quote for your home.
Solar savings over time in Lackawanna
| Year | Return on Investment |
|---|---|
| 1 years | $-8,828 |
| 3 years | $-7,569 |
| 5 years | $-6,310 |
| 7 years | $-5,051 |
| 9 years | $-3,792 |
| 11 years | $-2,533 |
| 13 years | $-1,274 |
| 15 years | $-15 |
| 17 years | $1,244 |
| 19 years | $2,503 |
| 21 years | $3,762 |
| 23 years | $5,021 |
| 25 years | $6,280 |
Top Solar Installers in Lackawanna
Although it's possible to install solar panels on your own, it takes extra effort and know-how. That's why most homeowners choose to hire a solar panel installer. Another good thing about using a top solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you'd like to switch to solar energy but still aren't certain which solar installer to go with, here are our suggestions for providers near you:
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
Tesla Energy
- 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 Lackawanna
Factors that Affect Solar Panel Costs in Lackawanna
For many Lackawanna homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Lackawanna, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,950. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Lackawanna, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Lackawanna have solar loans, which reduce the initial cost of installing a solar system. 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 a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $3.07 | $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 many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Contract: Review the contract terms closely to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
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
Tesla Energy
- 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 Lackawanna, NY Solar Cost FAQs
How much does it cost to install solar panels in Lackawanna?
The average cost of solar panels in Lackawanna is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Lackawanna?
Leasing solar panels can be an option if you can't afford to 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 financial benefits from going solar.
Can you sell solar power back to the grid in Lackawanna?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Lackawanna?
On average, solar panels can last 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 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.