Solar Panel Cost Guide in Le Ray, NY (2023 Update)
- Le Ray Solar Installation Cost: $9,517
- 25-Year Savings: $6,690
- Payback Period: 14.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Le Ray
Let's take a look at the average cost of solar panels in Le Ray.
The national average cost of solar panels is $2.66 per watt, but in Le Ray it's 2.95 per watt. To cover the typical energy needs of the average home in Le Ray, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,520, or $13,614 before the federal solar tax credit of 30% is applied.
These figures are only averages, and your own solar costs will most likely look different based on the amount of energy your home requires and what company you choose to go with. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Le Ray see about $13,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Le Ray for a quote for your home.
Solar savings over time in Le Ray
| Year | Return on Investment |
|---|---|
| 1 years | $-8,608 |
| 3 years | $-6,791 |
| 5 years | $-4,974 |
| 7 years | $-3,157 |
| 9 years | $-1,339 |
| 11 years | $478 |
| 13 years | $2,295 |
| 15 years | $4,112 |
| 17 years | $5,929 |
| 19 years | $7,746 |
| 21 years | $9,563 |
| 23 years | $11,381 |
| 25 years | $13,198 |
Top Solar Installers in Le Ray
Although you can install solar panels on your own, it takes extra energy and handiness. For that reason, most homeowners choose to go with a solar panel installer. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
If you'd like to switch to solar energy but still aren't sure which solar panel installer to go with, here are our recommendations for providers in Le Ray:
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 Le Ray
Factors that Affect Solar Panel Costs in Le Ray
Even though the average cost of a solar system in Le Ray is $9,520, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,950 per kilowatt in Le Ray. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Le Ray, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited 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
If paying for a solar system out of pocket is difficult, solar loans are a popular route because they cut back your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your all-in costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Le Ray is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services at different costs. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that offers the products, warranties and services you're looking for and also is 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 | $3.07 | $12,886 | $8,215 | 15.3 years |
| 8 kW | $3.01 | $16,850 | $11,283 | 15.0 years |
| 10 kW | $2.95 | $20,650 | $14,517 | 14.7 years |
| 12 kW | $2.89 | $24,284 | $17,916 | 14.4 years |
| 14 kW | $2.83 | $27,754 | $21,481 | 14.1 years |
| 16 kW | $2.77 | $31,058 | $25,210 | 13.8 years |
| 18 kW | $2.71 | $34,196 | $29,105 | 13.5 years |
| 20 kW | $2.66 | $37,170 | $33,165 | 13.2 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
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 Le Ray, NY Solar Cost FAQs
What is the average cost of installing solar panels in Le Ray?
The average cost of solar panels in Le Ray is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Le Ray?
Leasing solar panels can be an appealing choice, because 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Le Ray, 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 should find out how much energy your home uses 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 house 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.