Solar Panel Cost Guide in Niagara Falls, NY (2023 Update)
- Niagara Falls Solar Installation Cost: $8,589
- 25-Year Savings: $7,618
- Payback Period: 13.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Niagara Falls
Find out how much it might cost to switch to solar power in Niagara Falls.
The average cost of a solar system in Niagara Falls is 2.95 per watt. Using this figure, a typical 4.2-kW system would cost about $8,590 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Niagara Falls can save about $15,000 on their power bills over 20 years.
Click the button below to get connected to a highly rated solar installer in your area for a custom estimate.
Solar savings over time in Niagara Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-7,681 |
| 3 years | $-5,864 |
| 5 years | $-4,046 |
| 7 years | $-2,229 |
| 9 years | $-412 |
| 11 years | $1,405 |
| 13 years | $3,222 |
| 15 years | $5,039 |
| 17 years | $6,856 |
| 19 years | $8,674 |
| 21 years | $10,491 |
| 23 years | $12,308 |
| 25 years | $14,125 |
Top Solar Installers in Niagara Falls
Many homeowners opt for a solar installation company since trying to install solar panels yourself can be a lot of work. A solar installer can also help save you money in the long run by providing warranties, repairs and component replacements.
If you'd like to start using solar energy but still aren't certain which solar panel 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 Falls
Factors that Affect Solar Panel Costs in Niagara Falls
For many Niagara Falls homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Niagara Falls, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,950. The kind of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to decide on 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 falls within your budget.
Solar Financing Terms
Most solar installers in Niagara Falls have solar loans, which reduce the initial cost of installing solar panels. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. You may notice national solar installers that have lower prices because of 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 larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.07 | $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 a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: The brand of solar panel you'd like to get plays a part in which company you should opt for, since different companies offer different panels.
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 Falls, NY Solar Cost FAQs
What is the average cost of installing solar panels in Niagara Falls?
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 higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Niagara Falls?
Solar panels aren't free in Niagara Falls, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $779.28 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.