Solar Panel Cost Guide in New Square, NY (2024 Update)
- New Square Solar Installation Cost: $10,838
- 25-Year Savings: $18,340
- Payback Period: 10.0 Years
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Average Cost of Solar Panels in New Square
Find out what the average cost of solar panel installation is in New Square.
The average cost of a solar panel system in New Square is 4 per watt.Using this figure, a typical 4.2-kW system would cost about $10,838 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary depending on a few factors, such as what size system you need, your energy usage and what company you go with.With typical savings of about $24,000 on energy bills over 20 years, many homeowners in New Square find installing solar panels has a decent ROI.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in New Square
| Year | Return on Investment |
|---|---|
| 1 years | $-9,497 |
| 3 years | $-6,815 |
| 5 years | $-4,133 |
| 7 years | $-1,452 |
| 9 years | $1,230 |
| 11 years | $3,912 |
| 13 years | $6,594 |
| 15 years | $9,275 |
| 17 years | $11,957 |
| 19 years | $14,639 |
| 21 years | $17,320 |
| 23 years | $20,002 |
| 25 years | $22,684 |
Top Solar Installers in New Square
Many homeowners opt for a solar panel installer since figuring out how to install solar panels yourself can be challenging. A solar company can also help save you money in the long run by providing warranties, repairs and system component replacements.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in New Square
Factors that Affect Solar Panel Costs in New Square
Even though the average cost of a solar system in New Square is $10,838, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The model of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in New Square to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices 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 reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that provides the products, warranties and services you’re looking for and also fits within your budget.
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 | $22,389 | 10.4 years |
| 8 kW | $3.72 | $20,849 | $30,260 | 10.2 years |
| 10 kW | $3.65 | $25,550 | $38,336 | 10.0 years |
| 12 kW | $3.58 | $30,047 | $46,617 | 9.8 years |
| 14 kW | $3.50 | $34,339 | $55,102 | 9.6 years |
| 16 kW | $3.43 | $38,427 | $63,791 | 9.4 years |
| 18 kW | $3.36 | $42,311 | $72,685 | 9.2 years |
| 20 kW | $3.29 | $45,990 | $81,783 | 9.0 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's New Square, NY Solar Cost FAQs
How much does it cost to install 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 $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 usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in New Square?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out what solar panel system size 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 home 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.