Solar Panel Cost Guide in Old Bethpage, NY (2023 Update)
- Old Bethpage Solar Installation Cost: $7,950
- 25-Year Savings: $14,421
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Old Bethpage
Let's take a look at the average cost of solar in Old Bethpage.
The average cost of a solar panel system in Old Bethpage is 2.95 per watt. Using this figure, a typical 3.9-kW system would cost about $7,950 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely vary based on your energy needs and what company you choose to go with. Many homeowners find going solar is a sound investment. The average homeowner in Old Bethpage can save about $22,000 on their electricity bills over 20 years.
To get a free estimate from a highly rated solar company in Old Bethpage, you can click the button below.
Solar savings over time in Old Bethpage
| Year | Return on Investment |
|---|---|
| 1 years | $-7,055 |
| 3 years | $-5,266 |
| 5 years | $-3,476 |
| 7 years | $-1,686 |
| 9 years | $103 |
| 11 years | $1,893 |
| 13 years | $3,683 |
| 15 years | $5,472 |
| 17 years | $7,262 |
| 19 years | $9,052 |
| 21 years | $10,841 |
| 23 years | $12,631 |
| 25 years | $14,421 |
Top Solar Installers in Old Bethpage
Trying to put up solar panels on your own can be a challenging undertaking, which is why hiring a solar installation company is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you choose which one will be right for your family.
If you'd like to make the switch to solar but still aren't certain which solar panel company to go with, here are our recommendations for providers in Old Bethpage:
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 Old Bethpage
Factors that Affect Solar Panel Costs in Old Bethpage
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Old Bethpage: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,950. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Old Bethpage, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. Although solar loans make switching to solar energy more accessible for Old Bethpage homeowners, they can also increase the total you pay for your system, depending on your interest rate. 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 pick will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better 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 | $3.07 | $12,886 | $21,993 | 9.2 years |
| 8 kW | $3.01 | $16,850 | $29,654 | 9.1 years |
| 10 kW | $2.95 | $20,650 | $37,480 | 8.9 years |
| 12 kW | $2.89 | $24,284 | $45,472 | 8.7 years |
| 14 kW | $2.83 | $27,754 | $53,629 | 8.5 years |
| 16 kW | $2.77 | $31,058 | $61,951 | 8.3 years |
| 18 kW | $2.71 | $34,196 | $70,438 | 8.2 years |
| 20 kW | $2.66 | $37,170 | $79,091 | 8.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose greatly impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will carry various brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Well-established companies likely have a good 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 service, such as part repairs and replacements.
- Contract: Before you sign a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Old Bethpage, NY Solar Cost FAQs
What is the average cost of installing solar panels in Old Bethpage?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Old Bethpage?
Solar panels aren't free in Old Bethpage, but there are some options that can make getting them more viable, 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 will having solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Old Bethpage is currently $506,233, which means you can expect a value of about $20,756 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Old Bethpage is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 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.