Solar Panel Cost Guide in Old Westbury, NY (Mar 2023)
- Old Westbury Solar Installation Cost: $7,950
- 25-Year Savings: $14,421
- Payback Period: 8.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Old Westbury
Let's have a look at the average cost of solar panels in Old Westbury.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Old Westbury, the average cost of solar panels is 2.95 per watt. To cover the typical energy needs of the average home in Old Westbury, most homeowners require a 3.9-kilowatt system. Using the figure above, a solar installation costs around $7,950, or $11,368 before the federal solar tax credit of 30% 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 use, the type of solar system you choose, your solar contractor and more. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Old Westbury can save around $22,000 on their power bills over 20 years.
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Solar savings over time in Old Westbury
| 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 Westbury
Trying to install solar panels yourself can be a stressful project, which is why hiring a solar installation company is a good option for many homeowners. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be best for you.
There are several licensed solar professionals that can install solar panels for you. 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
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 Old Westbury
Factors that Affect Solar Panel Costs in Old Westbury
The cost of installing a solar system in Old Westbury can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,950. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Old Westbury average.
Solar Financing Terms
Many homeowners find the average cost of solar in Old Westbury to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time because of interest. However, the interest on solar loans also increases your total costs, so it's vital to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Old Westbury is the company you get to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services at different costs. Additionally, some companies in Old Westbury have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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
There are many companies to choose from in Old Westbury, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Contract: Before signing a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
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 Old Westbury, NY Solar Cost FAQs
What is the average cost of installing solar panels in Old Westbury?
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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in Old Westbury?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
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.