Solar Panel Cost Guide in Mineola, NY (2023 Update)
- Mineola Solar Installation Cost: $7,950
- 25-Year Savings: $14,421
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mineola
Let's have a look at the average cost of solar panels in Mineola.
In Mineola, solar panels cost about 2.95 per watt on average. Because a 3.9-kW system is needed to cover the energy needs of a typical home in Mineola, the average price of going solar will be about $7,950 after claiming the federal solar tax credit of 30%.
The true cost of your system can go higher or lower than the average in Mineola based on a variety of factors, such as the type of solar panels you choose and the solar company you hire. But, once you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $22,000 over 20 years on utility bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Mineola
| Year | Return on Investment |
|---|---|
| 1 years | $-7,055 |
| 3 years | $-5,266 |
| 5 years | $-3,476 |
| 7 years | $-1,686 |
| 9 years | $103 |
| 11 years | $1,893 |
| 13 years | $3,683 |
| 15 years | $5,472 |
| 17 years | $7,262 |
| 19 years | $9,052 |
| 21 years | $10,841 |
| 23 years | $12,631 |
| 25 years | $14,421 |
Top Solar Installers in Mineola
Many homeowners decide to use a solar installer since figuring out how to install solar panels by yourself can be time-consuming. Companies can also offer access to quality options of the best solar panels and help you choose which one will be best for your home.
If you're on the hunt for a solar company in Mineola, the EcoWatch team has 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
See all of the solar companies in Mineola
Factors that Affect Solar Panel Costs in Mineola
Even though the average cost of a solar system in Mineola is $7,950, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar panel system in Mineola, 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 consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Mineola average.
Solar Financing Terms
Many homeowners find the average cost of solar in Mineola to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. However, the interest on solar loans also adds to your overall costs, so it's vital to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better 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 discount can bring their pricing down 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 | $21,993 | 9.2 years |
| 8 kW | $3.01 | $16,850 | $29,654 | 9.1 years |
| 10 kW | $2.95 | $20,650 | $37,480 | 8.9 years |
| 12 kW | $2.89 | $24,284 | $45,472 | 8.7 years |
| 14 kW | $2.83 | $27,754 | $53,629 | 8.5 years |
| 16 kW | $2.77 | $31,058 | $61,951 | 8.3 years |
| 18 kW | $2.71 | $34,196 | $70,438 | 8.2 years |
| 20 kW | $2.66 | $37,170 | $79,091 | 8.0 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on 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:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- 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 installation process.
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 Mineola, NY Solar Cost FAQs
What is the average cost of installing solar panels in Mineola?
This is a hard question to answer precisely, 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 extra 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.
Can you get solar panels for free in Mineola?
Solar panels aren't free in Mineola, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels completely eradicate my energy 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 $1,162.61 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose 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.