Solar Panel Cost Guide in Manhattan, NY (Nov 2022)
- Manhattan Solar Installation Cost: $8,053
- 25-Year Savings: $25,286
- Payback Period: 6.0 Years
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Updated 11/09/2022
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Average Cost of Solar Panels in Manhattan
Find out what the average cost of solar panel installation is in Manhattan.
The average cost of a solar panel system in Manhattan is $3 per watt. The average Manhattan homeowner needs a 3.9-kilowatt system, which would cost about $8,053, or $5,959 after the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Manhattan homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $32,000 on utility bills over 20 years, many homeowners in Manhattan find going solar can pay off big.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Manhattan
| Year | Return on Investment |
|---|---|
| 1 years | $-6,720 |
| 3 years | $-4,053 |
| 5 years | $-1,386 |
| 7 years | $1,282 |
| 9 years | $3,949 |
| 11 years | $6,616 |
| 13 years | $9,283 |
| 15 years | $11,950 |
| 17 years | $14,618 |
| 19 years | $17,285 |
| 21 years | $19,952 |
| 23 years | $22,619 |
| 25 years | $25,286 |
Top Solar Installers in Manhattan
When switching to solar energy, many homeowners decide to use a solar installer since installing solar panels yourself can be a difficult project. Local solar installers can also help you maximize your return on investment by assisting with any local incentives you can take advantage of and by providing warranties and repairs.
If you'd like to go solar but still aren't sure which solar company to go with, here are our recommendations for providers nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Manhattan
Factors that Affect Solar Panel Costs in Manhattan
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Manhattan: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
Size is one of the largest factors that influences the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Manhattan, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Manhattan homeowners choose to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's important to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Manhattan, you'll have many options to choose from, but each comes at varying price points for labor and equipment. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $38,372 | 6.3 years |
| 8 kW | $3.01 | $16,850 | $51,493 | 6.2 years |
| 10 kW | $2.95 | $20,650 | $64,779 | 6.0 years |
| 12 kW | $2.89 | $24,284 | $78,230 | 5.9 years |
| 14 kW | $2.83 | $27,754 | $91,847 | 5.8 years |
| 16 kW | $2.77 | $31,058 | $105,629 | 5.7 years |
| 18 kW | $2.71 | $34,196 | $119,576 | 5.6 years |
| 20 kW | $2.66 | $37,170 | $133,688 | 5.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- 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 large role in the company you choose.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Manhattan, NY Solar Cost FAQs
How much does it cost to install solar panels in Manhattan?
The average cost of solar panels in Manhattan 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Manhattan?
A solar panel system isn't free in Manhattan, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Manhattan have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.
