Solar Panel Cost Guide in Niagara, NY (2023 Update)
- Niagara Solar Installation Cost: $8,589
- 25-Year Savings: $7,618
- Payback Period: 13.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Niagara
Find out what the average cost of solar panels are in Niagara.
While the national average of solar panels is $2.66 per watt, solar panels in Niagara generally cost around 2.95. The average Niagara homeowner needs a 4.2-kilowatt system, which would cost about $8,590 with the federal tax credit, or $12,284 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Niagara homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar panels is worth paying. On average Niagara homeowners see about $15,000 in savings on energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Niagara
| Year | Return on Investment |
|---|---|
| 1 years | $-8,535 |
| 3 years | $-8,427 |
| 5 years | $-8,319 |
| 7 years | $-8,211 |
| 9 years | $-8,103 |
| 11 years | $-7,995 |
| 13 years | $-7,887 |
| 15 years | $-7,779 |
| 17 years | $-7,671 |
| 19 years | $-7,563 |
| 21 years | $-7,455 |
| 23 years | $-7,347 |
| 25 years | $-7,239 |
Top Solar Installers in Niagara
Many homeowners choose to hire a solar installer since figuring out how to install solar panels on your own can be hard. Plus, if you're unsure what type of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you'd like to start using solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers near you:
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 Niagara
Factors that Affect Solar Panel Costs in Niagara
The cost of installing a solar system in Niagara can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,950 per kilowatt in Niagara. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Niagara, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of 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
Many homeowners find the average cost of solar in Niagara to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies in Niagara, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $10,493 | 13.8 years |
| 8 kW | $3.01 | $16,850 | $14,321 | 13.5 years |
| 10 kW | $2.95 | $20,650 | $18,314 | 13.2 years |
| 12 kW | $2.89 | $24,284 | $22,472 | 13.0 years |
| 14 kW | $2.83 | $27,754 | $26,796 | 12.7 years |
| 16 kW | $2.77 | $31,058 | $31,285 | 12.5 years |
| 18 kW | $2.71 | $34,196 | $35,939 | 12.2 years |
| 20 kW | $2.66 | $37,170 | $40,758 | 11.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, 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 Niagara, NY Solar Cost FAQs
How much does it cost to install solar panels in Niagara?
This is a tough question to answer exactly, because the cost depends on many 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Niagara?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of 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 savings from going solar.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Niagara, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
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 take a 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 get between 20 and 35 panels to account for 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.