Solar Panel Cost Guide in Lake Luzerne, NY (2023 Update)
- Lake Luzerne Solar Installation Cost: $9,375
- 25-Year Savings: $6,832
- Payback Period: 14.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Lake Luzerne
Let's take a look at the average cost of solar in Lake Luzerne.
In Lake Luzerne, solar panels cost about 2.95 per watt on average. Using this figure, a typical 4.5-kW system would cost about $9,375 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs may vary based on factors unique to your home and what company you want to go with. Despite the large initial cost, the average Lake Luzerne homeowner can save around $14,000 on their power bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a vetted solar company in Lake Luzerne for a personalized estimate.
Solar savings over time in Lake Luzerne
| Year | Return on Investment |
|---|---|
| 1 years | $-8,727 |
| 3 years | $-7,430 |
| 5 years | $-6,134 |
| 7 years | $-4,837 |
| 9 years | $-3,541 |
| 11 years | $-2,244 |
| 13 years | $-947 |
| 15 years | $349 |
| 17 years | $1,646 |
| 19 years | $2,942 |
| 21 years | $4,239 |
| 23 years | $5,535 |
| 25 years | $6,832 |
Top Solar Installers in Lake Luzerne
Trying to install solar panels yourself can be a challenging undertaking, which is why getting a solar installer is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Lake Luzerne
Factors that Affect Solar Panel Costs in Lake Luzerne
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Lake Luzerne: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lake Luzerne, 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 figure out by looking at past energy bills. Your overall cost can increase by around $2,950 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Lake Luzerne have solar loans, which reduce your upfront costs of installing solar panels. Although solar loans make going solar more accessible for Lake Luzerne 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 make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the growing popularity of renewable energy solutions in Lake Luzerne, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk prices, 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 | $3.07 | $12,886 | $8,537 | 15.0 years |
| 8 kW | $3.01 | $16,850 | $11,712 | 14.7 years |
| 10 kW | $2.95 | $20,650 | $15,054 | 14.5 years |
| 12 kW | $2.89 | $24,284 | $18,560 | 14.2 years |
| 14 kW | $2.83 | $27,754 | $22,231 | 13.9 years |
| 16 kW | $2.77 | $31,058 | $26,068 | 13.6 years |
| 18 kW | $2.71 | $34,196 | $30,070 | 13.3 years |
| 20 kW | $2.66 | $37,170 | $34,237 | 13.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
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 Lake Luzerne, NY Solar Cost FAQs
How much does it cost to install solar panels in Lake Luzerne?
This is a difficult question to answer precisely, because the cost depends on a few different 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 cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Lake Luzerne have a net metering program?
Most states have net metering programs of some kind. Through these, you can 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 often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had 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.