Solar Panel Cost Guide in Nassau, NY (2023 Update)
- Nassau Solar Installation Cost: $9,421
- 25-Year Savings: $5,982
- Payback Period: 15.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Nassau
Find out what the average cost of a solar system is in Nassau.
The national average cost of solar panels is $2.66 per watt, but in Nassau it's 2.95 per watt. To cover the typical energy usage of the average home in Nassau, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $9,416, or $13,465 before the federal solar tax credit of 30% is applied.
The actual price you pay can go above or below the average in Nassau based on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Nassau can save around $13,000 on their power bills over 20 years.
Click the button below to get connected to a top solar company in your area for a custom estimate.
Solar savings over time in Nassau
| Year | Return on Investment |
|---|---|
| 1 years | $-8,595 |
| 3 years | $-6,943 |
| 5 years | $-5,292 |
| 7 years | $-3,640 |
| 9 years | $-1,988 |
| 11 years | $-336 |
| 13 years | $1,316 |
| 15 years | $2,968 |
| 17 years | $4,620 |
| 19 years | $6,271 |
| 21 years | $7,923 |
| 23 years | $9,575 |
| 25 years | $11,227 |
Top Solar Installers in Nassau
Trying to install solar panels on your own can be a dangerous project, which is why hiring a solar installer is a good option for many homeowners. A solar company can also help save you money over time by offering warranties, repairs and component replacements.
If you'd like to make the switch to solar but still aren't sure which solar system installer to go with, here are our recommendations for providers nearby:
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 Nassau
Factors that Affect Solar Panel Costs in Nassau
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Nassau: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you choose 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 Nassau to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time due to interest. It's wise to factor 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 off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Nassau is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services for different budgets. Additionally, some companies in Nassau know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $7,371 | 15.9 years |
| 8 kW | $3.01 | $16,850 | $10,159 | 15.6 years |
| 10 kW | $2.95 | $20,650 | $13,111 | 15.3 years |
| 12 kW | $2.89 | $24,284 | $16,229 | 15.0 years |
| 14 kW | $2.83 | $27,754 | $19,512 | 14.7 years |
| 16 kW | $2.77 | $31,058 | $22,961 | 14.4 years |
| 18 kW | $2.71 | $34,196 | $26,574 | 14.1 years |
| 20 kW | $2.66 | $37,170 | $30,353 | 13.8 years |
How to Save on Solar Panels
The solar company you go with will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Solar Panel Brands: The brand of solar panel you need to get plays a part in which installer you should opt for, since different companies have access to different panels.
- 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.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
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 Nassau, NY Solar Cost FAQs
How much does it cost to install solar panels in Nassau?
The average cost of solar panels in Nassau is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $675.23 per year.
How long do solar panels last in Nassau?
On average, the lifespan of solar panels is 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 higher level 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.