Solar Panel Cost Guide in Mamaroneck, NY (2023 Update)
- Mamaroneck Solar Installation Cost: $8,652
- 25-Year Savings: $24,687
- Payback Period: 6.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mamaroneck
Here's how much it might cost to switch to solar power in Mamaroneck.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mamaroneck, the typical cost of a solar system is 2.95 per watt. Since a 4.2-kW system is needed to cover the energy needs of a typical home in Mamaroneck, the average price of going solar will be about $8,652 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and the cost of going solar for you will vary based on your energy needs and what company you choose to go with. With average savings of about $30,000 on utility bills over 20 years, many homeowners in Mamaroneck find going solar has a decent ROI.
You can click the button below to get connected with a vetted solar installer in Mamaroneck for a quote for your home.
Solar savings over time in Mamaroneck
| Year | Return on Investment |
|---|---|
| 1 years | $-7,319 |
| 3 years | $-4,652 |
| 5 years | $-1,984 |
| 7 years | $683 |
| 9 years | $3,350 |
| 11 years | $6,017 |
| 13 years | $8,684 |
| 15 years | $11,351 |
| 17 years | $14,019 |
| 19 years | $16,686 |
| 21 years | $19,353 |
| 23 years | $22,020 |
| 25 years | $24,687 |
Top Solar Installers in Mamaroneck
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be time-consuming. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be best for you.
If you're searching for a solar installer in Mamaroneck, we've put together 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 Mamaroneck
Factors that Affect Solar Panel Costs in Mamaroneck
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Mamaroneck: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,950 per kilowatt in Mamaroneck. The model of solar panels and equipment you choose is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can affect your pricing. Mamaroneck's solar companies all have different labor costs and add varying upcharges to equipment. 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 go with the company that has 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 | $34,898 | 6.7 years |
| 8 kW | $3.01 | $16,850 | $46,861 | 6.6 years |
| 10 kW | $2.95 | $20,650 | $58,989 | 6.5 years |
| 12 kW | $2.89 | $24,284 | $71,283 | 6.4 years |
| 14 kW | $2.83 | $27,754 | $83,741 | 6.2 years |
| 16 kW | $2.77 | $31,058 | $96,365 | 6.1 years |
| 18 kW | $2.71 | $34,196 | $109,154 | 6.0 years |
| 20 kW | $2.66 | $37,170 | $122,108 | 5.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before deciding.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Installation Process: When making the switch to solar, it's crucial to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project completion timeline.
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 Mamaroneck, NY Solar Cost FAQs
How much does it cost to install solar panels in Mamaroneck?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Mamaroneck?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your property 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 Mamaroneck is currently $874,497, which means you can look forward to a value of about $35,854 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Mamaroneck is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.