Solar Panel Cost Guide in North New Hyde Park, NY (2023 Update)
- North New Hyde Park Solar Installation Cost: $7,950
- 25-Year Savings: $18,808
- Payback Period: 7.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in North New Hyde Park
We go over average solar pricing in North New Hyde Park.
The national average cost of solar panels is $2.66 per watt, but in North New Hyde Park it's 2.95 per watt. The average North New Hyde Park homeowner needs a 3.9-kilowatt system, which would cost about $7,950 with the federal tax credit, or $11,368 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you choose, your solar contractor and more. But, after you've paid the initial cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $26,000 over 20 years on electricity bills.
To get a free quote from a top solar company in North New Hyde Park, you can click the button below.
Solar savings over time in North New Hyde Park
| Year | Return on Investment |
|---|---|
| 1 years | $-6,880 |
| 3 years | $-4,739 |
| 5 years | $-2,599 |
| 7 years | $-458 |
| 9 years | $1,683 |
| 11 years | $3,823 |
| 13 years | $5,964 |
| 15 years | $8,105 |
| 17 years | $10,246 |
| 19 years | $12,386 |
| 21 years | $14,527 |
| 23 years | $16,668 |
| 25 years | $18,808 |
Top Solar Installers in North New Hyde Park
Although it's possible to install solar panels on your own, it takes extra time and knowledge. For that reason, most people choose a solar panel installer. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
If you're on the hunt for a solar company in North New Hyde Park, the EcoWatch team has 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in North New Hyde Park
Factors that Affect Solar Panel Costs in North New Hyde Park
Though the average cost of a solar system in North New Hyde Park is $7,950, your final cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the price of a solar energy system in North New Hyde Park, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,950 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like North New Hyde Park, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in North New Hyde Park, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your overall costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can influence how much it costs. North New Hyde Park's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have 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 | $28,833 | 7.7 years |
| 8 kW | $3.01 | $16,850 | $38,775 | 7.6 years |
| 10 kW | $2.95 | $20,650 | $48,881 | 7.4 years |
| 12 kW | $2.89 | $24,284 | $59,153 | 7.3 years |
| 14 kW | $2.83 | $27,754 | $69,590 | 7.1 years |
| 16 kW | $2.77 | $31,058 | $80,193 | 7.0 years |
| 18 kW | $2.71 | $34,196 | $90,960 | 6.8 years |
| 20 kW | $2.66 | $37,170 | $101,893 | 6.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project timeline incentives and warranties.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- 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 substantial role in the company you go with.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of 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.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's North New Hyde Park, NY Solar Cost FAQs
How much does it cost to install solar panels in North New Hyde Park?
This is a hard question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in North New Hyde Park?
You can't get solar panels for free in North New Hyde Park. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,390.63 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.