Solar Panel Cost Guide in Lockport, NY (2024 Update)
- Lockport Solar Installation Cost: $10,627
- 25-Year Savings: $10,021
- Payback Period: 17.1 Years
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Average Cost of Solar Panels in Lockport
Find out what the average cost of solar panels are in Lockport.
The national average cost of solar panels is $2.66 per watt, but in Lockport it’s 4 per watt.The average Lockport homeowner needs a 4.2-kilowatt system, which would cost about $10,627 with the federal tax credit, or $15,197 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely vary based on your energy needs and what company you want to go with.But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on electricity bills.
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 Lockport
| Year | Return on Investment |
|---|---|
| 1 years | $-9,802 |
| 3 years | $-8,150 |
| 5 years | $-6,498 |
| 7 years | $-4,846 |
| 9 years | $-3,194 |
| 11 years | $-1,542 |
| 13 years | $110 |
| 15 years | $1,761 |
| 17 years | $3,413 |
| 19 years | $5,065 |
| 21 years | $6,717 |
| 23 years | $8,369 |
| 25 years | $10,021 |
Top Solar Installers in Lockport
Although you can install solar panels yourself, it takes extra energy and handiness. For that reason, the majority of homeowners choose to go with a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over time.
If you're searching for a solar company in Lockport, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 Lockport
Factors that Affect Solar Panel Costs in Lockport
There are many factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.The kind of solar equipment you choose can increase or decrease your cost 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. However, more efficient panels could save you more over time on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Lockport average.
Solar Financing Terms
Most solar companies in Lockport provide solar loans, which reduce your upfront costs of installing a solar system.When considering your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Lockport is the company you hire to install your PV system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $6,420 | 17.8 years |
| 8 kW | $3.72 | $20,849 | $8,969 | 17.5 years |
| 10 kW | $3.65 | $25,550 | $11,723 | 17.1 years |
| 12 kW | $3.58 | $30,047 | $14,680 | 16.8 years |
| 14 kW | $3.50 | $34,339 | $17,842 | 16.5 years |
| 16 kW | $3.43 | $38,427 | $21,209 | 16.1 years |
| 18 kW | $3.36 | $42,311 | $24,780 | 15.8 years |
| 20 kW | $3.29 | $45,990 | $28,555 | 15.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: The brand of solar panel you need to install plays a part in which company you should go with, since different companies offer different panels.
- Contract: When reading over your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Lockport, NY Solar Cost FAQs
How much does it cost to install solar panels in Lockport?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 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 above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Lockport?
You can’t get solar panels for free in Lockport. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will having solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lockport is currently $230,542, which means you can look forward to a value of about $9,452 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lockport is a fruitful investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.