Solar Panel Cost Guide in New Square, NY (2023 Update)
- New Square Solar Installation Cost: $8,759
- 25-Year Savings: $18,340
- Payback Period: 8.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in New Square
We go over average solar pricing in New Square.
In New Square, solar panels cost about 2.95 per watt on average. Since a 4.2-kW system is needed to cover the energy needs of a typical home in New Square, the average price of going solar will be about $8,756 after claiming the federal solar tax credit of 30%.
How much you pay can go above or below the average in New Square depending on a few factors, such as the type of solar panels you choose and the solar company you hire. With typical savings of about $24,000 on utility bills over 20 years, many homeowners in New Square find going solar can be quite rewarding.
To get a free quote from a top solar installer in New Square, you can click the button below.
Solar savings over time in New Square
| Year | Return on Investment |
|---|---|
| 1 years | $-7,418 |
| 3 years | $-4,737 |
| 5 years | $-2,055 |
| 7 years | $627 |
| 9 years | $3,309 |
| 11 years | $5,990 |
| 13 years | $8,672 |
| 15 years | $11,354 |
| 17 years | $14,035 |
| 19 years | $16,717 |
| 21 years | $19,399 |
| 23 years | $22,081 |
| 25 years | $24,762 |
Top Solar Installers in New Square
When going solar, many homeowners prefer to go with a solar company since overseeing your solar installation yourself can be a difficult project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're searching for a solar company in New Square, we've 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 New Square
Factors that Affect Solar Panel Costs in New Square
Although the average cost of a solar system in New Square is $8,756, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,950. There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. In addition, 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
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many New Square homeowners opt to finance their solar panel systems to offset upfront costs. While solar loans make switching to solar energy more accessible for New Square homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in New Square is the company you choose to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $25,446 | 8.4 years |
| 8 kW | $3.01 | $16,850 | $34,259 | 8.2 years |
| 10 kW | $2.95 | $20,650 | $43,236 | 8.1 years |
| 12 kW | $2.89 | $24,284 | $52,379 | 7.9 years |
| 14 kW | $2.83 | $27,754 | $61,687 | 7.8 years |
| 16 kW | $2.77 | $31,058 | $71,161 | 7.6 years |
| 18 kW | $2.71 | $34,196 | $80,799 | 7.4 years |
| 20 kW | $2.66 | $37,170 | $90,603 | 7.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 New Square, NY Solar Cost FAQs
What is the average cost of installing solar panels in New Square?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in New Square?
Leasing solar panels can be an option if you can't afford to 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 home 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 New Square have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.