Solar Panel Cost Guide in New York City, NY (2024 Update)

  • New York City Solar Installation Cost: $9,951
  • 25-Year Savings: $24,777
  • Payback Period: 7.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in New York City

We go over average solar pricing in New York City.

Currently, the national average cost of solar panels is $2.66 per watt. However, in New York City, the average cost of solar panels is 4 per watt.The average solar panel system size in New York City is around 3.9 kilowatts, meaning a cost of about $9,951 for a solar installation, or $14,230 before the 0 federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of solar panels you choose, your solar contractor and more.Many homeowners find installing a solar system is a sound investment. The average homeowner in New York City can save about $32,000 on their electricity bills over 20 years.

To get a free estimate from a vetted solar installer in New York City, you can click the button below.

Solar savings over time in New York City

Year Return on Investment
1 years $-8,073
3 years $-4,318
5 years $-563
7 years $3,193
9 years $6,948
11 years $10,703
13 years $14,459
15 years $18,214
17 years $21,969
19 years $25,725
21 years $29,480
23 years $33,235
25 years $36,991

Top Solar Installers in New York City

DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make your switch to solar power much easier. Plus, if you aren’t sure what type of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.

If you’d like to go solar but still aren’t certain which solar system installer to go with, here are our suggestions for providers in New York City:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 New York City

Factors that Affect Solar Panel Costs in New York City

There are a number of factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like New York City, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

If paying for solar panels in cash is difficult, solar loans are an affordable option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Although solar loans make switching to solar energy more accessible for New York City homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

Lastly, the company you get to install your solar panel system can influence the cost. New York City’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.

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 $34,616 7.9 years
8 kW $3.72 $20,849 $46,563 7.7 years
10 kW $3.65 $25,550 $58,715 7.6 years
12 kW $3.58 $30,047 $71,071 7.4 years
14 kW $3.50 $34,339 $83,631 7.3 years
16 kW $3.43 $38,427 $96,396 7.1 years
18 kW $3.36 $42,311 $109,366 7.0 years
20 kW $3.29 $45,990 $122,539 6.8 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:

  • Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
  • Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process works and the completion timeline.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
  • Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar company you’re considering has it.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's New York City, NY Solar Cost FAQs

How much does it cost to install solar panels in New York City?

The average cost of solar panels in New York City is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.

Is it better to lease or buy solar panels in New York City?

Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.

Can you sell solar power back to the grid in New York City?

Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.

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.

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