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

  • Malta Solar Installation Cost: $11,457
  • 25-Year Savings: $6,166
  • Payback Period: 18.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Malta

Find out how much it might cost to make the switch to solar in Malta.

The average cost of solar panels in Malta is 4 per watt.The average Malta homeowner needs a 4.5-kilowatt system, which would cost about $11,457 with the federal tax credit, or $16,384 before the 0 tax credit is applied.

Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar panels you want to get, your solar contractor and more.Despite the significant initial cost, the average Malta homeowner can save around $13,000 on their power bills over 20 years, which is one of the benefits of solar.

To receive a free estimate from a pre-vetted solar company in Malta, you can click the button below.

Solar savings over time in Malta

Year Return on Investment
1 years $-10,631
3 years $-8,979
5 years $-7,327
7 years $-5,675
9 years $-4,023
11 years $-2,372
13 years $-720
15 years $932
17 years $2,584
19 years $4,236
21 years $5,888
23 years $7,540
25 years $9,191

Top Solar Installers in Malta

Installing solar panels yourself can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.

You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Malta:

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 Malta

Factors that Affect Solar Panel Costs in Malta

While the average cost of a solar system in Malta is $11,457, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

If paying for a solar system in cash is difficult, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

A final consideration when trying to figure out the cost of solar for your home or business in Malta is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for instance, you’ll have no shortage of solar installers that provide a range of services at different costs.Additionally, some companies in Malta have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 $3.80 $15,943 $4,697 19.3 years
8 kW $3.72 $20,849 $6,672 18.9 years
10 kW $3.65 $25,550 $8,851 18.6 years
12 kW $3.58 $30,047 $11,234 18.2 years
14 kW $3.50 $34,339 $13,822 17.8 years
16 kW $3.43 $38,427 $16,614 17.5 years
18 kW $3.36 $42,311 $19,610 17.1 years
20 kW $3.29 $45,990 $22,811 16.7 years

How to Save on Solar Panels

The solar panel company you choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:

  • Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
  • Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.

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 Malta, NY Solar Cost FAQs

How much does it cost to install solar panels in Malta?

The average cost of solar panels in Malta is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual 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 Malta?

Leasing solar panels can be an appealing choice, as it typically 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 get the most savings.

Is it worth going solar in Malta?

Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.

How long do solar panels last in Malta?

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 larger amount 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.

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