Solar Panel Cost Guide in Monroe, NY (2024 Update)
- Monroe Solar Installation Cost: $11,058
- 25-Year Savings: $22,464
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Monroe
Here’s how much it might cost to make the switch to solar in Monroe.
The average cost of a solar panel system in Monroe is 4 per watt.The average solar panel system size in Monroe is around 4.3 kilowatts, meaning a cost of about $11,058 for a solar installation, or $15,813 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of equipment you want to get, your solar contractor and more.With average savings of about $24,000 on power bills over 20 years, many homeowners in Monroe find installing solar panels has a decent ROI.
You can click the button below to get connected with a pre-vetted solar installer in Monroe for a quote for your home.
Solar savings over time in Monroe
| Year | Return on Investment |
|---|---|
| 1 years | $-9,717 |
| 3 years | $-7,035 |
| 5 years | $-4,353 |
| 7 years | $-1,671 |
| 9 years | $1,010 |
| 11 years | $3,692 |
| 13 years | $6,374 |
| 15 years | $9,055 |
| 17 years | $11,737 |
| 19 years | $14,419 |
| 21 years | $17,101 |
| 23 years | $19,782 |
| 25 years | $22,464 |
Top Solar Installers in Monroe
When making the switch to solar, many homeowners decide to hire a solar installer since putting up a solar system yourself can be a time-consuming project. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Monroe
Factors that Affect Solar Panel Costs in Monroe
For many Monroe homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Monroe, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Monroe, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Monroe homeowners decide to finance their solar panel systems to make going solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Monroe, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment 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 | $21,627 | 10.6 years |
| 8 kW | $3.72 | $20,849 | $29,245 | 10.4 years |
| 10 kW | $3.65 | $25,550 | $37,067 | 10.2 years |
| 12 kW | $3.58 | $30,047 | $45,093 | 10.0 years |
| 14 kW | $3.50 | $34,339 | $53,324 | 9.8 years |
| 16 kW | $3.43 | $38,427 | $61,759 | 9.6 years |
| 18 kW | $3.36 | $42,311 | $70,399 | 9.4 years |
| 20 kW | $3.29 | $45,990 | $79,243 | 9.2 years |
How to Save on Solar Panels
There are many companies to choose from in Monroe, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Monroe, NY Solar Cost FAQs
How much does it cost to install solar panels in Monroe?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly 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 completely eradicate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Monroe, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Monroe?
Even 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 decide to replace them after having 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.