Solar Panel Cost Guide in Lockport, NY (2023 Update)
- Lockport Solar Installation Cost: $8,589
- 25-Year Savings: $6,914
- Payback Period: 13.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lockport
Find out what the average cost of solar panel installation is in Lockport.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lockport, the average cost of solar panels is 2.95 per watt. The average Lockport homeowner needs a 4.2-kilowatt system, which would cost about $8,590 with the federal tax credit, or $12,284 before the 30% tax credit is applied.
The true price you pay can be above or below the average in Lockport based on several factors, such as the model of solar panels you choose and the solar contractor you hire. Even with the large initial cost, the average Lockport homeowner can save around $14,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a top solar installer in Lockport that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lockport
| Year | Return on Investment |
|---|---|
| 1 years | $-8,538 |
| 3 years | $-8,434 |
| 5 years | $-8,331 |
| 7 years | $-8,228 |
| 9 years | $-8,124 |
| 11 years | $-8,021 |
| 13 years | $-7,917 |
| 15 years | $-7,814 |
| 17 years | $-7,711 |
| 19 years | $-7,607 |
| 21 years | $-7,504 |
| 23 years | $-7,401 |
| 25 years | $-7,297 |
Top Solar Installers in Lockport
Many homeowners opt for a solar panel installer since installing solar panels yourself can be a lot of work. The expertise that solar installers provide can be invaluable as well, especially if you aren't sure what kind of solar equipment would be right for your home.
If you'd like to switch to solar energy but still aren't certain which solar company to go with, here are our recommendations for providers in Lockport:
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 Lockport
Factors that Affect Solar Panel Costs in Lockport
For many Lockport homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Lockport, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, 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 about $2,950. 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 get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Lockport average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Lockport, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the total 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 more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Lockport, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Lockport know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $9,478 | 14.4 years |
| 8 kW | $3.01 | $16,850 | $12,968 | 14.1 years |
| 10 kW | $2.95 | $20,650 | $16,623 | 13.9 years |
| 12 kW | $2.89 | $24,284 | $20,443 | 13.6 years |
| 14 kW | $2.83 | $27,754 | $24,428 | 13.3 years |
| 16 kW | $2.77 | $31,058 | $28,579 | 13.0 years |
| 18 kW | $2.71 | $34,196 | $32,894 | 12.7 years |
| 20 kW | $2.66 | $37,170 | $37,375 | 12.5 years |
How to Save on Solar Panels
There are a large number of companies available in Lockport, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two 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.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
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 Lockport, NY Solar Cost FAQs
What is the average cost of installing solar panels in Lockport?
This is a tough question to answer exactly, because the cost depends on many 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Lockport?
Solar panels aren't free in Lockport, 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 you can take advantage of.
Is it worth going solar in Lockport?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Lockport?
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 their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use 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.