Solar Panel Cost Guide in Malverne, NY (Feb 2023)

  • Malverne Solar Installation Cost: $7,950
  • 25-Year Savings: $14,421
  • Payback Period: 8.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

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 Malverne

Here's how much it might cost to switch to solar power in Malverne.

The average cost of a solar system in Malverne is $3 per watt. To account for the typical energy usage of the average home in Malverne, most homeowners require a 3.9-kilowatt system. Using the figure above, a solar installation costs about $7,950, or $5,883 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of going solar can vary based on multiple factors, such as what size system you need, your energy usage and what company you go with. Even with the high initial cost, the average Malverne homeowner can save about $22,000 on their electricity bills over 20 years, which is one of the benefits of solar.

Click the button below to get connected to a top solar installer in your area for a custom quote.

Solar savings over time in Malverne

Year Return on Investment
1 years $-7,055
3 years $-5,266
5 years $-3,476
7 years $-1,686
9 years $103
11 years $1,893
13 years $3,683
15 years $5,472
17 years $7,262
19 years $9,052
21 years $10,841
23 years $12,631
25 years $14,421

Top Solar Installers in Malverne

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with a solar company can make converting to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.

There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:

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 Technology

Tesla Energy

★★★★★
4.5

  • 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 Malverne

Factors that Affect Solar Panel Costs in Malverne

Even though the average cost of a solar system in Malverne is $7,950, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.

Solar Equipment

The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,950. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Malverne, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Malverne to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. However, the interest on solar loans also adds to your all-in costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.

Solar Panel Installation Company

Finally, the company you opt for to install your solar system can impact the cost. Malverne's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 $21,993 9.2 years
8 kW $3.01 $16,850 $29,654 9.1 years
10 kW $2.95 $20,650 $37,480 8.9 years
12 kW $2.89 $24,284 $45,472 8.7 years
14 kW $2.83 $27,754 $53,629 8.5 years
16 kW $2.77 $31,058 $61,951 8.3 years
18 kW $2.71 $34,196 $70,438 8.2 years
20 kW $2.66 $37,170 $79,091 8.0 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:

  • Contract: Before signing a contract with a solar installer, make sure you 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 if there are any guarantees about energy production.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
  • Solar Panel Brands: The model of solar panel you want to get plays a role in which installer you should go with, since different companies offer different panels.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.

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 Technology

Tesla Energy

★★★★★
4.5

  • 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 Malverne, NY Solar Cost FAQs

What is the average cost of installing solar panels in Malverne?

The average cost of solar panels in Malverne 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 stuff like the kind of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important thing to keep in mind when buying solar panels?

The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.

Is it worth going solar in Malverne?

Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is 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 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.

Follow us