Solar Panel Cost Guide in Nyack, NY (2023 Update)
- Nyack Solar Installation Cost: $8,759
- 25-Year Savings: $18,340
- Payback Period: 8.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Nyack
We go over average solar pricing in Nyack.
While the national average of solar panels is $2.66 per watt, solar panels in Nyack typically cost around 2.95. The average Nyack homeowner needs a 4.2-kilowatt system, which would cost about $8,756 with the federal tax credit, or $12,521 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Nyack homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find going solar is a rewarding investment. The average homeowner in Nyack can save around $24,000 on their energy bills over 20 years.
To receive a free estimate from a top solar installer in Nyack, you can click the button below.
Solar savings over time in Nyack
| Year | Return on Investment |
|---|---|
| 1 years | $-7,418 |
| 3 years | $-4,737 |
| 5 years | $-2,055 |
| 7 years | $627 |
| 9 years | $3,309 |
| 11 years | $5,990 |
| 13 years | $8,672 |
| 15 years | $11,354 |
| 17 years | $14,035 |
| 19 years | $16,717 |
| 21 years | $19,399 |
| 23 years | $22,081 |
| 25 years | $24,762 |
Top Solar Installers in Nyack
When switching to solar energy, many homeowners prefer to go with a solar installer since installing solar panels yourself can be a difficult project. Also, companies with a high reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Nyack
Factors that Affect Solar Panel Costs in Nyack
Even though the average cost of a solar system in Nyack is $8,756, your actual cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. There are several different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable choice because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. While solar loans make switching to solar energy more accessible for Nyack homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies in Nyack, and each can charge different amounts for labor and equipment. The company's size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $25,446 | 8.4 years |
| 8 kW | $3.01 | $16,850 | $34,259 | 8.2 years |
| 10 kW | $2.95 | $20,650 | $43,236 | 8.1 years |
| 12 kW | $2.89 | $24,284 | $52,379 | 7.9 years |
| 14 kW | $2.83 | $27,754 | $61,687 | 7.8 years |
| 16 kW | $2.77 | $31,058 | $71,161 | 7.6 years |
| 18 kW | $2.71 | $34,196 | $80,799 | 7.4 years |
| 20 kW | $2.66 | $37,170 | $90,603 | 7.3 years |
How to Save on Solar Panels
There are numerous companies available in Nyack, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
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 Nyack, NY Solar Cost FAQs
How much does it cost to install solar panels in Nyack?
This is a difficult question to answer precisely, 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. You can expect to pay more if you want additional solar equipment or more efficient 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 less expensive solar panels.
Is it better to lease or buy solar panels in Nyack?
Leasing solar panels can be an option if you can't 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 financial benefits from going solar.
How will having solar panels impact how much my home is worth?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Nyack?
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 higher amount 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.