Solar Panel Cost Guide in Lake Erie Beach, NY (2024 Update)

  • Lake Erie Beach Solar Installation Cost: $11,696
  • 25-Year Savings: $6,754
  • Payback Period: 18.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lake Erie Beach

Here’s how much it might cost to make the switch to solar in Lake Erie Beach.

While the national average of solar panels is $2.66 per watt, solar panels in Lake Erie Beach typically cost around 4.Since a 4.6-kW system is needed to cover the energy usage of a typical home in Lake Erie Beach, the average price of going solar will be about $11,696 after claiming the federal solar tax credit of 0.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $13,000 over 20 years on utility bills.

To see your potential ROI and connect with a local solar expert, click the button below.

Solar savings over time in Lake Erie Beach

Year Return on Investment
1 years $-10,787
3 years $-8,970
5 years $-7,153
7 years $-5,336
9 years $-3,519
11 years $-1,702
13 years $116
15 years $1,933
17 years $3,750
19 years $5,567
21 years $7,384
23 years $9,201
25 years $11,018

Top Solar Installers in Lake Erie Beach

When making the switch to solar, many homeowners opt to go with a solar installation company since DIY solar panel installation can be a challenging project. Also, if you’d like to maximize your investment in solar energy, using a solar installer can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.

You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Lake Erie Beach:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Lake Erie Beach

Factors that Affect Solar Panel Costs in Lake Erie Beach

Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Lake Erie Beach: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.

Solar Equipment

When it comes to estimating the price of a solar panel system in Lake Erie Beach, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past power bills. Your total cost can increase by around $3,650 for each additional kilowatt you need.The model of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond 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 looking for a solar system that’s in your budget.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Lake Erie Beach, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.Though solar loans make going solar more accessible for Lake Erie Beach homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

A final factor to consider when trying to estimate the cost of solar for your home or business in Lake Erie Beach is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services at different costs.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 $3.80 $15,943 $5,299 18.8 years
8 kW $3.72 $20,849 $7,475 18.4 years
10 kW $3.65 $25,550 $9,854 18.0 years
12 kW $3.58 $30,047 $12,438 17.7 years
14 kW $3.50 $34,339 $15,227 17.3 years
16 kW $3.43 $38,427 $18,220 17.0 years
18 kW $3.36 $42,311 $21,417 16.6 years
20 kW $3.29 $45,990 $24,819 16.2 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:

  • Solar Panel Brands: Different companies offer various brands and models of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
  • Installation Process: When making the switch to solar power, it’s necessary to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the project completion timeline.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
  • Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Lake Erie Beach, NY Solar Cost FAQs

What is the average cost of installing solar panels in Lake Erie Beach?

This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Are solar panels free in Lake Erie Beach?

A solar panel system isn’t free in Lake Erie Beach, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Do solar panels increase your property value?

Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t go for 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 often do you have to replace solar panels?

On average, solar panels can last 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 larger 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.

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