Solar Panel Cost Guide in Lake Erie Beach, NY (Mar 2023)

  • Lake Erie Beach Solar Installation Cost: $9,458
  • 25-Year Savings: $6,749
  • Payback Period: 14.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

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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

Find out what the average cost of a solar system is in Lake Erie Beach.

In Lake Erie Beach, solar panels cost about 2.95 per watt on average. To cover the typical energy usage of the average home in Lake Erie Beach, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,458, or $13,525 before the federal solar tax credit of 30% is applied.

Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar panels you want, your solar contractor and more. With average savings of about $13,000 on utility bills over 20 years, many homeowners in Lake Erie Beach find investing in solar can pay off big.

For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Lake Erie Beach

Year Return on Investment
1 years $-8,809
3 years $-7,513
5 years $-6,216
7 years $-4,920
9 years $-3,623
11 years $-2,327
13 years $-1,030
15 years $266
17 years $1,563
19 years $2,860
21 years $4,156
23 years $5,453
25 years $6,749

Top Solar Installers in Lake Erie Beach

Installing solar panels on your own can be a difficult undertaking, which is why using a solar installation company is a good option for many homeowners. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.

There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:

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 Technology

Tesla Energy

★★★★★
4.5

  • 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 Lake Erie Beach

Factors that Affect Solar Panel Costs in Lake Erie Beach

Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary 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 cover each of these briefly below.

Solar Equipment

The size of the solar panel system you need, which is measured in kilowatts, is the most important 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 — cost more upfront but also tend to offer better efficiency. In a city like Lake Erie Beach, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of 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

For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Lake Erie Beach, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

Finally, the company you opt for to install your solar panel system can impact the cost. Lake Erie Beach's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Lake Erie Beach know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 $8,357 15.2 years
8 kW $3.01 $16,850 $11,473 14.9 years
10 kW $2.95 $20,650 $14,754 14.6 years
12 kW $2.89 $24,284 $18,201 14.3 years
14 kW $2.83 $27,754 $21,813 14.0 years
16 kW $2.77 $31,058 $25,589 13.7 years
18 kW $2.71 $34,196 $29,531 13.4 years
20 kW $2.66 $37,170 $33,639 13.1 years

How to Save on Solar Panels

There are numerous companies to choose from in Lake Erie Beach, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:

  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
  • Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.

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 Technology

Tesla Energy

★★★★★
4.5

  • 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 Lake Erie Beach, NY Solar Cost FAQs

How much does it cost to install solar panels in Lake Erie Beach?

The average cost of solar panels in Lake Erie Beach 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 model of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Lake Erie Beach?

Leasing solar panels can be an attractive 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 get the most savings.

Do solar panels increase your home value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lake Erie Beach is currently $117,000, which means you can expect a value of about $4,797 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lake Erie Beach is a fruitful investment.

How long do solar panels last in Lake Erie Beach?

Even 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 decide to replace them after having them for that long or you can continue to use 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.

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