Solar Panel Cost Guide in Lima, NY (Jan 2023)

  • Lima Solar Installation Cost: $9,623
  • 25-Year Savings: $6,800
  • Payback Period: 14.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lima

Find out what the average cost of a solar system is in Lima.

The national average cost of solar panels is $2.66 per watt, but in Lima it's $3 per watt. To cover the typical energy usage of the average home in Lima, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs about $9,623, or $7,121 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary depending on several factors, such as how many panels you need, your energy consumption and what installation company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Lima see about $13,000 in savings on electricity bills over 20 years.

To calculate your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Lima

Year Return on Investment
1 years $-8,966
3 years $-7,652
5 years $-6,338
7 years $-5,025
9 years $-3,711
11 years $-2,397
13 years $-1,083
15 years $231
17 years $1,545
19 years $2,858
21 years $4,172
23 years $5,486
25 years $6,800

Top Solar Installers in Lima

Many homeowners opt for a solar installation company since trying to put up solar panels by yourself can be challenging. Another benefit of going with a solar company is that they can help you optimize your ROI by reducing your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.

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 nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Lima

Factors that Affect Solar Panel Costs in Lima

The cost of installing a solar system in Lima can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Lima to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

A final factor to consider when trying to evaluate the cost of solar for your home or business in Lima is the company you choose to install your solar system. As with choosing a company to install new cabinets, for instance, there's no shortage of solar installers that provide a range of services at different costs. Companies that only sell products with high efficiency and therefore a higher price point — 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 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 $8,260 15.2 years
8 kW $3.01 $16,850 $11,344 14.9 years
10 kW $2.95 $20,650 $14,593 14.6 years
12 kW $2.89 $24,284 $18,007 14.4 years
14 kW $2.83 $27,754 $21,587 14.1 years
16 kW $2.77 $31,058 $25,332 13.8 years
18 kW $2.71 $34,196 $29,241 13.5 years
20 kW $2.66 $37,170 $33,316 13.2 years

How to Save on Solar Panels

Since the kind of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
  • Solar Panel Brands: Different companies carry different brands and types of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
  • Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Lima, NY Solar Cost FAQs

What is the average cost of installing solar panels in Lima?

This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Are solar panels free in Lima?

Solar panels aren't free in Lima, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

Is it worth going solar in Lima?

Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.

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.

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