Solar Panel Cost Guide in Merrick, NY (2024 Update)
- Merrick Solar Installation Cost: $9,833
- 25-Year Savings: $12,737
- Payback Period: 11.4 Years
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Average Cost of Solar Panels in Merrick
See how much it might cost to install solar panels in Merrick.
While the national average of solar panels is $2.66 per watt, solar panels in Merrick generally cost about 4.To cover the typical energy usage of the average home in Merrick, most homeowners require a 3.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,833, or $14,061 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of solar system you want, your solar contractor and more.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Merrick can save about $21,000 on their electricity bills over 20 years.
For a free 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 | $-8,930 |
| 3 years | $-7,124 |
| 5 years | $-5,319 |
| 7 years | $-3,513 |
| 9 years | $-1,708 |
| 11 years | $98 |
| 13 years | $1,903 |
| 15 years | $3,709 |
| 17 years | $5,514 |
| 19 years | $7,320 |
| 21 years | $9,125 |
| 23 years | $10,931 |
| 25 years | $12,737 |
Top Solar Installers in Merrick
Installing solar panels by yourself can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over time.
If you're searching for a solar company in Merrick, we've organized 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Merrick
Factors that Affect Solar Panel Costs in Merrick
For many Merrick homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Merrick, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Merrick, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past power bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Merrick to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Merrick, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $3.80 | $15,943 | $17,745 | 11.8 years |
| 8 kW | $3.72 | $20,849 | $24,069 | 11.6 years |
| 10 kW | $3.65 | $25,550 | $30,598 | 11.4 years |
| 12 kW | $3.58 | $30,047 | $37,330 | 11.1 years |
| 14 kW | $3.50 | $34,339 | $44,267 | 10.9 years |
| 16 kW | $3.43 | $38,427 | $51,409 | 10.7 years |
| 18 kW | $3.36 | $42,311 | $58,755 | 10.5 years |
| 20 kW | $3.29 | $45,990 | $66,305 | 10.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands 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 energy needs. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before making your decision.
- Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Merrick, NY Solar Cost FAQs
What is the average cost of installing solar panels in Merrick?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Merrick?
Leasing solar panels can be an appealing choice, as it commonly 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.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,122.95 per year.
How long do solar panels last in Merrick?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.