Solar Panel Cost Guide in Mount Vernon, NY (2023 Update)
- Mount Vernon Solar Installation Cost: $8,645
- 25-Year Savings: $24,695
- Payback Period: 6.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mount Vernon
Find out what the average cost of installing solar panels is in Mount Vernon.
The average cost of solar panels in Mount Vernon is 2.95 per watt. To account for the typical energy usage of the average home in Mount Vernon, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $8,652, or $12,372 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Mount Vernon homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $30,000 on energy bills over 20 years, many homeowners in Mount Vernon find installing solar panels has a decent ROI.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Mount Vernon
| Year | Return on Investment |
|---|---|
| 1 years | $-6,765 |
| 3 years | $-3,006 |
| 5 years | $754 |
| 7 years | $4,513 |
| 9 years | $8,272 |
| 11 years | $12,032 |
| 13 years | $15,791 |
| 15 years | $19,551 |
| 17 years | $23,310 |
| 19 years | $27,069 |
| 21 years | $30,829 |
| 23 years | $34,588 |
| 25 years | $38,347 |
Top Solar Installers in Mount Vernon
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring a solar company can make converting to solar power much easier. Companies can also have access to quality options of the best solar panels and help you pick which one will be right for you.
If you're searching for a solar company in Mount Vernon, 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 Mount Vernon
Factors that Affect Solar Panel Costs in Mount Vernon
For many Mount Vernon homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Mount Vernon, with typical prices between $20,000 to $40,000. There are various 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 a solar panel system in Mount Vernon, one of the most crucial 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 usage, which you can determine by looking at past energy bills. Your total cost can increase by around $2,950 for each additional kilowatt you need. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. In addition, extra products, such as solar batteries, can bump up your total well above the Mount Vernon average.
Solar Financing Terms
Many homeowners find the average cost of solar in Mount Vernon to be too steep, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. However, the interest on solar loans also adds to your overall costs, so it's crucial to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Mount Vernon, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Mount Vernon are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $34,898 | 6.7 years |
| 8 kW | $3.01 | $16,850 | $46,861 | 6.6 years |
| 10 kW | $2.95 | $20,650 | $58,989 | 6.5 years |
| 12 kW | $2.89 | $24,284 | $71,283 | 6.4 years |
| 14 kW | $2.83 | $27,754 | $83,741 | 6.2 years |
| 16 kW | $2.77 | $31,058 | $96,365 | 6.1 years |
| 18 kW | $2.71 | $34,196 | $109,154 | 6.0 years |
| 20 kW | $2.66 | $37,170 | $122,108 | 5.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should choose, since different companies offer different panels.
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 Mount Vernon, NY Solar Cost FAQs
What is the average cost of installing solar panels in Mount Vernon?
This is a difficult question to answer precisely, because the cost depends on a few different 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Mount Vernon?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 financial benefits from going solar.
Does Mount Vernon have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
How long do solar panels last in Mount Vernon?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.