Solar Panel Cost Guide in Lakeview, NY (2024 Update)
- Lakeview Solar Installation Cost: $9,833
- 25-Year Savings: $13,814
- Payback Period: 11.3 Years
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Average Cost of Solar Panels in Lakeview
Find out how much it might cost to make the switch to solar in Lakeview.
The national average cost of solar panels is $2.66 per watt, but in Lakeview it’s 4 per watt.The average Lakeview homeowner needs a 3.8-kilowatt system, which would cost about $9,833 with the federal tax credit, or $14,061 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of solar system you want, your solar contractor and more.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $21,000 over 20 years on electricity bills.
You can click the button below to get connected with a pre-vetted solar installer in Lakeview that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lakeview
| Year | Return on Investment |
|---|---|
| 1 years | $-8,307 |
| 3 years | $-5,257 |
| 5 years | $-2,206 |
| 7 years | $845 |
| 9 years | $3,896 |
| 11 years | $6,946 |
| 13 years | $9,997 |
| 15 years | $13,048 |
| 17 years | $16,098 |
| 19 years | $19,149 |
| 21 years | $22,200 |
| 23 years | $25,250 |
| 25 years | $28,301 |
Top Solar Installers in Lakeview
When going solar, many homeowners decide to hire a solar company since handling can be a difficult project. Also, companies with a good reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you’d like to go solar but still aren’t certain which solar company to go with, here are our recommendations for providers in Lakeview:
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 Lakeview
Factors that Affect Solar Panel Costs in Lakeview
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Lakeview: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.There are a lot of different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also cost more. In addition, the type of equipment you’re looking to install 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
If paying for a solar system in cash is difficult, solar loans are a popular option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.While solar loans make switching to solar energy more accessible for Lakeview 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
The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in Lakeview, and each can charge varying amounts for labor and equipment.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that provides the products, warranties and services you want and also fits within your budget.
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 | $17,984 | 11.7 years |
| 8 kW | $3.72 | $20,849 | $24,387 | 11.5 years |
| 10 kW | $3.65 | $25,550 | $30,995 | 11.3 years |
| 12 kW | $3.58 | $30,047 | $37,807 | 11.1 years |
| 14 kW | $3.50 | $34,339 | $44,823 | 10.8 years |
| 16 kW | $3.43 | $38,427 | $52,044 | 10.6 years |
| 18 kW | $3.36 | $42,311 | $59,470 | 10.4 years |
| 20 kW | $3.29 | $45,990 | $67,099 | 10.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- 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 previous customers and solar experts like EcoWatch.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Lakeview, NY Solar Cost FAQs
What is the average cost of installing solar panels in Lakeview?
The average cost of solar panels in Lakeview is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Lakeview?
You can’t get solar panels for free in Lakeview. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Lakeview, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.