Solar Panel Cost Guide in Merrick, NY (2023 Update)
- Merrick Solar Installation Cost: $7,947
- 25-Year Savings: $13,661
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Merrick
We go over average solar pricing in Merrick.
The average cost of a solar panel system in Merrick is 2.95 per watt. Because a 3.9-kW system is needed to cover the energy consumption of a typical home in Merrick, the average price of going solar will be about $7,950 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and the cost of going solar for you will most likely differ based on your specific situation and what company you choose to go with. With average savings of about $21,000 on electricity bills over 20 years, many homeowners in Merrick find installing solar panels can pay off big.
To get a free quote from a pre-vetted solar installer in Merrick, you can click the button below.
Solar savings over time in Merrick
| Year | Return on Investment |
|---|---|
| 1 years | $-7,875 |
| 3 years | $-7,731 |
| 5 years | $-7,587 |
| 7 years | $-7,443 |
| 9 years | $-7,299 |
| 11 years | $-7,155 |
| 13 years | $-7,010 |
| 15 years | $-6,866 |
| 17 years | $-6,722 |
| 19 years | $-6,578 |
| 21 years | $-6,434 |
| 23 years | $-6,290 |
| 25 years | $-6,146 |
Top Solar Installers in Merrick
DIY 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 panel installer can make your swap to solar power much easier. In addition, if you'd like to maximize your investment in solar, opting for a solar company can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Merrick
Factors that Affect Solar Panel Costs in Merrick
There are a number of factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Merrick, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you just 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 expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating in Merrick, and each can charge varying amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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
Since the brand of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: If you care about the longevity of your solar panel system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
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 Merrick, NY Solar Cost FAQs
How much does it cost to install solar panels in Merrick?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Merrick, that will require at least a 10-kW system. Not all homes 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.
What solar power system size is right for 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 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.