Solar Panel Cost Guide in Lake Mohegan, NY (2023 Update)
- Lake Mohegan Solar Installation Cost: $8,652
- 25-Year Savings: $15,417
- Payback Period: 9.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lake Mohegan
Let's have a look at the average cost of solar panels in Lake Mohegan.
In Lake Mohegan, solar panels cost about 2.95 per watt on average. Since a 4.2-kW system is needed to cover the energy needs of a typical home in Lake Mohegan, the average price of going solar will be about $8,652 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and how much solar costs for you may vary based on your energy needs and what company you go with. But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $22,000 over 20 years on power bills.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lake Mohegan
| Year | Return on Investment |
|---|---|
| 1 years | $-7,690 |
| 3 years | $-5,764 |
| 5 years | $-3,838 |
| 7 years | $-1,913 |
| 9 years | $13 |
| 11 years | $1,938 |
| 13 years | $3,864 |
| 15 years | $5,789 |
| 17 years | $7,715 |
| 19 years | $9,641 |
| 21 years | $11,566 |
| 23 years | $13,492 |
| 25 years | $15,417 |
Top Solar Installers in Lake Mohegan
When going solar, many homeowners choose to go with a solar installer since handling can be a difficult project. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Lake Mohegan:
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 Lake Mohegan
Factors that Affect Solar Panel Costs in Lake Mohegan
There are many criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lake Mohegan, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $2,950 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Lake Mohegan to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time due to interest. Although solar loans make going solar more accessible for Lake Mohegan homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can affect how much you pay. Lake Mohegan's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger 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 | $21,612 | 9.3 years |
| 8 kW | $3.01 | $16,850 | $29,146 | 9.2 years |
| 10 kW | $2.95 | $20,650 | $36,846 | 9.0 years |
| 12 kW | $2.89 | $24,284 | $44,711 | 8.8 years |
| 14 kW | $2.83 | $27,754 | $52,741 | 8.6 years |
| 16 kW | $2.77 | $31,058 | $60,936 | 8.4 years |
| 18 kW | $2.71 | $34,196 | $69,297 | 8.3 years |
| 20 kW | $2.66 | $37,170 | $77,822 | 8.1 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The kind of solar panel you need to install plays a role in which installer you should choose, since different companies provide different panels.
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 Lake Mohegan, NY Solar Cost FAQs
What is the average cost of installing solar panels in Lake Mohegan?
The average cost of solar panels in Lake Mohegan 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 stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Lake Mohegan?
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 once you've had them for that long or you can keep using 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.