Solar Panel Cost Guide in Lake Grove, NY (2024 Update)
- Lake Grove Solar Installation Cost: $9,930
- 25-Year Savings: $14,345
- Payback Period: 11.1 Years
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Average Cost of Solar Panels in Lake Grove
We break down average solar pricing in Lake Grove.
In Lake Grove, solar panels cost about 4 per watt on average.The average solar panel system size in Lake Grove is around 3.9 kilowatts, meaning a cost of about $9,930 for a solar installation, or $14,200 before the 0 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 true cost of installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what company you go with.Despite the high upfront cost, the average Lake Grove homeowner can save about $22,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar installer in your area for a personalized estimate.
Solar savings over time in Lake Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-8,405 |
| 3 years | $-5,354 |
| 5 years | $-2,303 |
| 7 years | $747 |
| 9 years | $3,798 |
| 11 years | $6,849 |
| 13 years | $9,899 |
| 15 years | $12,950 |
| 17 years | $16,001 |
| 19 years | $19,051 |
| 21 years | $22,102 |
| 23 years | $25,153 |
| 25 years | $28,204 |
Top Solar Installers in Lake Grove
Trying to put up solar panels by yourself can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're on the hunt for a solar company in Lake Grove, we've put together a list of our top suggestions here:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 Grove
Factors that Affect Solar Panel Costs in Lake Grove
Even though the average cost of a solar system in Lake Grove is $9,930, your actual cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $3,650 per kilowatt in Lake Grove.The model of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, 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 into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Lake Grove to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time due to interest.You’ll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you select will play a role in your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $18,592 | 11.5 years |
| 8 kW | $3.72 | $20,849 | $25,198 | 11.3 years |
| 10 kW | $3.65 | $25,550 | $32,009 | 11.1 years |
| 12 kW | $3.58 | $30,047 | $39,024 | 10.9 years |
| 14 kW | $3.50 | $34,339 | $46,243 | 10.7 years |
| 16 kW | $3.43 | $38,427 | $53,667 | 10.4 years |
| 18 kW | $3.36 | $42,311 | $61,295 | 10.2 years |
| 20 kW | $3.29 | $45,990 | $69,128 | 10.0 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose greatly impacts your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When making the switch to solar, it’s important to maintain an open line of communication with your solar company. Confirm that you understand how the installation process works and the project completion timeline.
- Contract: Before you sign a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels depending 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 access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Lake Grove, NY Solar Cost FAQs
How much does it cost to install solar panels in Lake Grove?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Lake Grove?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.