Solar Panel Cost Guide in Manhasset Hills, NY (2023 Update)
- Manhasset Hills Solar Installation Cost: $7,950
- 25-Year Savings: $18,077
- Payback Period: 7.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Manhasset Hills
Find out what the average cost of solar panel installation is in Manhasset Hills.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Manhasset Hills, the average cost of a solar system is 2.95 per watt. Using this figure, a typical 3.9-kW system would cost about $7,950 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Manhasset Hills depending on a few factors, such as the type of solar panels you choose and the solar company you hire. But, once you've paid the upfront cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $26,000 over 20 years on utility bills.
You can click the button below to get connected with a vetted solar installer in Manhasset Hills that can help you get a more accurate cost estimate for your home.
Solar savings over time in Manhasset Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-6,909 |
| 3 years | $-4,827 |
| 5 years | $-2,745 |
| 7 years | $-663 |
| 9 years | $1,420 |
| 11 years | $3,502 |
| 13 years | $5,584 |
| 15 years | $7,666 |
| 17 years | $9,748 |
| 19 years | $11,830 |
| 21 years | $13,913 |
| 23 years | $15,995 |
| 25 years | $18,077 |
Top Solar Installers in Manhasset Hills
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar company can make switching to solar power much easier. A solar installer can also help save you money over time by offering warranties, repairs and part replacements.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Manhasset Hills
Factors that Affect Solar Panel Costs in Manhasset Hills
There are many factors that can determine your solar system 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 size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,950. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Manhasset Hills average.
Solar Financing Terms
Many homeowners find the average cost of solar in Manhasset Hills to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. However, the interest on solar loans also adds to your total costs, so it's vital to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you choose will influence your total cost to adopt solar power. Different companies will charge 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 at a higher cost. It's best to do some research and go with the company that offers the products, warranties and services you're looking for and also is 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 | $27,693 | 7.9 years |
| 8 kW | $3.01 | $16,850 | $37,255 | 7.8 years |
| 10 kW | $2.95 | $20,650 | $46,981 | 7.6 years |
| 12 kW | $2.89 | $24,284 | $56,873 | 7.5 years |
| 14 kW | $2.83 | $27,754 | $66,930 | 7.3 years |
| 16 kW | $2.77 | $31,058 | $77,152 | 7.2 years |
| 18 kW | $2.71 | $34,196 | $87,540 | 7.0 years |
| 20 kW | $2.66 | $37,170 | $98,092 | 6.9 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose considerably impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- 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 considerable role in the company you go with.
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
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 Manhasset Hills, NY Solar Cost FAQs
What is the average cost of installing solar panels in Manhasset Hills?
The average cost of solar panels in Manhasset Hills is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Manhasset Hills?
Leasing solar panels can be an attractive choice, because it often 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 way to go if you want to maximize your savings.
How much can I save on power bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Manhasset Hills, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can 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 buy between 20 and 35 panels to account for 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.