Solar Panel Cost Guide in Le Ray, NY (Mar 2023)
- Le Ray Solar Installation Cost: $9,520
- 25-Year Savings: $6,687
- Payback Period: 14.7 Years
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Updated March 14, 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 average cost of a solar panel system in Le Ray is 2.95 per watt. Since a 4.6-kW system is needed to cover the energy costs of a typical home in Le Ray, the average price of going solar will be about $9,520 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy consumption and what company you go with. Despite the significant initial cost, the average Le Ray homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Le Ray
| Year | Return on Investment |
|---|---|
| 1 years | $-8,871 |
| 3 years | $-7,575 |
| 5 years | $-6,278 |
| 7 years | $-4,982 |
| 9 years | $-3,685 |
| 11 years | $-2,389 |
| 13 years | $-1,092 |
| 15 years | $205 |
| 17 years | $1,501 |
| 19 years | $2,798 |
| 21 years | $4,094 |
| 23 years | $5,391 |
| 25 years | $6,687 |
Top Solar Installers in Le Ray
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of an installer can make swapping over to solar power much easier. The expertise that solar companies offer can be invaluable as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Le Ray
Factors that Affect Solar Panel Costs in Le Ray
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Le Ray: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,950. Some solar panel brands — like Maxeon from SunPower — are more expensive 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. Plus, if you have a small roof or you don't have a lot of 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
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Le Ray, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. Though solar loans make going solar more accessible for Le Ray homeowners, they can also add to 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 avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you select will affect your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. Some companies 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 with an above-average cost. It's best to do some research and find a company that provides the products, warranties and services you're looking for and also fit into 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 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. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: The type of solar panel you need to install plays a part in which company you should opt for, since different companies have access to different panels.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
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 Le Ray, NY Solar Cost FAQs
What is the average cost of installing solar panels in Le Ray?
This is a tough question to answer precisely, because the cost depends on a variety of 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Le Ray?
You can't get solar panels for free in Le Ray. 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'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Le Ray, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
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 how much energy they produce will have decreased significantly after that point. You can replace them after having 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.