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
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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:
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.
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.
EcoWatch's Malverne, NY Solar Cost FAQs
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.