Solar Panel Cost Guide in Lockport, NY (Mar 2023)
- Lockport Solar Installation Cost: $8,590
- 25-Year Savings: $6,913
- Payback Period: 13.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lockport
We break down average solar pricing in Lockport.
The national average cost of solar panels is $2.66 per watt, but in Lockport it's 2.95 per watt. To account for the typical energy needs of the average home in Lockport, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $8,590, or $12,284 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Lockport homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Lockport can save around $14,000 on their electricity bills over 20 years.
Click the button below to get connected to a highly rated solar company in your area for a custom quote.
Solar savings over time in Lockport
| Year | Return on Investment |
|---|---|
| 1 years | $-7,970 |
| 3 years | $-6,730 |
| 5 years | $-5,490 |
| 7 years | $-4,249 |
| 9 years | $-3,009 |
| 11 years | $-1,769 |
| 13 years | $-529 |
| 15 years | $712 |
| 17 years | $1,952 |
| 19 years | $3,192 |
| 21 years | $4,433 |
| 23 years | $5,673 |
| 25 years | $6,913 |
Top Solar Installers in Lockport
Although you can install solar panels yourself, it takes extra time and expertise. Because of that, almost all homeowners choose a solar panel installer. Companies can also have access to quality options of the best solar panels and help you decide which one will be best for you.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Lockport
Factors that Affect Solar Panel Costs in Lockport
The cost of installing a solar system in Lockport can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lockport, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past power bills. Your total cost can increase by about $2,950 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lockport to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. However, the interest on solar loans also increases your total costs, so it's vital to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Lockport, and each can charge different amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $3.07 | $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 to choose from in Lockport, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Look through the contract terms carefully to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
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 Lockport, NY Solar Cost FAQs
How much does it cost to install solar panels in Lockport?
The average cost of solar panels in Lockport is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Lockport?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Lockport?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future utility 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 Lockport?
On average, solar panels can last 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 larger 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.