Solar Panel Cost Guide in Lloyd, NY (2024 Update)

  • Lloyd Solar Installation Cost: $11,137
  • 25-Year Savings: $12,999
  • Payback Period: 12.7 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

Why you can trust EcoWatch

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 Lloyd

Let’s take a look at the average cost of solar in Lloyd.

While the national average of solar panels is $2.66 per watt, solar panels in Lloyd generally cost around 4.Since a 4.4-kW system is needed to cover the energy costs of a typical home in Lloyd, the average price of going solar will be about $11,137 after claiming the federal solar tax credit of 0.

The true cost of your system can be above or below the average in Lloyd depending on several factors, such as the model of solar panels you choose and the solar company you hire.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Lloyd can save about $19,000 on their power bills over 20 years.

For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Lloyd

YearReturn on Investment
1 years$-9,874
3 years$-7,348
5 years$-4,821
7 years$-2,295
9 years$231
11 years$2,758
13 years$5,284
15 years$7,810
17 years$10,337
19 years$12,863
21 years$15,390
23 years$17,916
25 years$20,442

Top Solar Installers in Lloyd

When switching to solar energy, many homeowners opt to use a solar installation company since handling can be a difficult project. A solar company can also help save you money in the long run by offering warranties, repairs and part replacements.

You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:

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 for Leasing

Sunrun

★★★★★
4.0
  • 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 Lloyd

Factors that Affect Solar Panel Costs in Lloyd

While the average cost of a solar system in Lloyd is $11,137, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.

Solar Equipment

The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,650. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Lloyd average.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Lloyd, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The last key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Lloyd, you’ll have many options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.80$15,943$14,33913.2 years
8 kW$3.72$20,849$19,52712.9 years
10 kW$3.65$25,550$24,92012.7 years
12 kW$3.58$30,047$30,51712.4 years
14 kW$3.50$34,339$36,31912.1 years
16 kW$3.43$38,427$42,32511.9 years
18 kW$3.36$42,311$48,53511.6 years
20 kW$3.29$45,990$54,95011.4 years

How to Save on Solar Panels

Since the brand of solar panels and the installer you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Warranty: If you’re concerned about the endurance of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
  • Solar Panel Brands: The brand of solar panel you’d like to get plays a role in which company you should go with, since different companies provide different panels.
  • Contract: It’s important to read your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.

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 for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Lloyd, NY Solar Cost FAQs

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

The average cost of solar panels in Lloyd is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider other than cost when buying solar panels?

Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Does Lloyd have a net metering program?

Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Lloyd?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.

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.