Solar Panel Cost Guide in Lyons, NY (2023 Update)
- Lyons Solar Installation Cost: $8,957
- 25-Year Savings: $7,086
- Payback Period: 14.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lyons
Let's have a look at the average cost of solar panels in Lyons.
The national average cost of solar panels is $2.66 per watt, but in Lyons it's 2.95 per watt. To cover the typical energy usage of the average home in Lyons, most homeowners require a 4.3-kilowatt system. Using the figure above, a solar installation costs about $8,962, or $12,816 before the federal solar tax credit of 30% is applied.
These figures are only averages, and your own solar costs will most likely look different based on your specific situation and what company you choose to go with. Despite the significant upfront cost, the average Lyons homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the perks of solar.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lyons
| Year | Return on Investment |
|---|---|
| 1 years | $-8,132 |
| 3 years | $-6,480 |
| 5 years | $-4,828 |
| 7 years | $-3,176 |
| 9 years | $-1,524 |
| 11 years | $128 |
| 13 years | $1,780 |
| 15 years | $3,431 |
| 17 years | $5,083 |
| 19 years | $6,735 |
| 21 years | $8,387 |
| 23 years | $10,039 |
| 25 years | $11,691 |
Top Solar Installers in Lyons
Many homeowners opt for a solar installer since figuring out how to install solar panels on your own can be time-consuming. The expertise that solar companies offer can be invaluable as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
If you're looking for a solar installer in Lyons, the EcoWatch team has organized a list of our top suggestions here:
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 Lyons
Factors that Affect Solar Panel Costs in Lyons
There are a number of 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 system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,950. 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 are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra 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 Lyons to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you pick will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. 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 want and also fits 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 | $9,305 | 14.5 years |
| 8 kW | $3.01 | $16,850 | $12,737 | 14.2 years |
| 10 kW | $2.95 | $20,650 | $16,335 | 14.0 years |
| 12 kW | $2.89 | $24,284 | $20,097 | 13.7 years |
| 14 kW | $2.83 | $27,754 | $24,025 | 13.4 years |
| 16 kW | $2.77 | $31,058 | $28,118 | 13.1 years |
| 18 kW | $2.71 | $34,196 | $32,376 | 12.8 years |
| 20 kW | $2.66 | $37,170 | $36,799 | 12.6 years |
How to Save on Solar Panels
There are many companies to choose from in Lyons, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated 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 past customers.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Before signing a contract with a solar installer, make sure to read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Lyons, NY Solar Cost FAQs
What is the average cost of installing solar panels in Lyons?
The average cost of solar panels in Lyons is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Lyons?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will having solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lyons is currently $84,500, so you could be looking at a value of about $3,464 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lyons is a fruitful investment.
How long do solar panels last in Lyons?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.