Solar Panel Cost Guide in Merrick, NY (2023 Update)
- Merrick Solar Installation Cost: $7,950
- 25-Year Savings: $13,658
- Payback Period: 9.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Merrick
Let's have a look at the average cost of solar panels in Merrick.
The average cost of solar panels in Merrick is 2.95 per watt. The average Merrick homeowner needs a 3.9-kilowatt system, which would cost about $7,950 with the federal tax credit, or $11,368 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more. But, after you've paid the initial cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $21,000 over 20 years on energy bills.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Merrick
| Year | Return on Investment |
|---|---|
| 1 years | $-7,086 |
| 3 years | $-5,357 |
| 5 years | $-3,629 |
| 7 years | $-1,900 |
| 9 years | $-171 |
| 11 years | $1,557 |
| 13 years | $3,286 |
| 15 years | $5,014 |
| 17 years | $6,743 |
| 19 years | $8,472 |
| 21 years | $10,200 |
| 23 years | $11,929 |
| 25 years | $13,658 |
Top Solar Installers in Merrick
Installing solar panels by yourself can be a challenging project, which is why using a solar installer is a good option for many homeowners. Plus, if you'd like to maximize your investment in solar energy, opting for a solar company can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our suggestions 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 Merrick
Factors that Affect Solar Panel Costs in Merrick
The cost of installing a solar system in Merrick can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,950. The kind of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, 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
Many homeowners find the average cost of solar in Merrick to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you choose will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $20,803 | 9.6 years |
| 8 kW | $3.01 | $16,850 | $28,068 | 9.4 years |
| 10 kW | $2.95 | $20,650 | $35,498 | 9.2 years |
| 12 kW | $2.89 | $24,284 | $43,093 | 9.0 years |
| 14 kW | $2.83 | $27,754 | $50,853 | 8.8 years |
| 16 kW | $2.77 | $31,058 | $58,778 | 8.6 years |
| 18 kW | $2.71 | $34,196 | $66,869 | 8.5 years |
| 20 kW | $2.66 | $37,170 | $75,125 | 8.3 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: If you're worried about the endurance of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
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 Merrick, NY Solar Cost FAQs
How much does it cost to install solar panels in Merrick?
The average cost of solar panels in Merrick 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 such as 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 Merrick?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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 savings from going solar.
Do solar panels increase your home 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 Merrick is currently $430,178, so you could be looking at a value of about $17,637 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Merrick is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption 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 get 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.