Solar Panel Cost Guide in Smithtown, NY (Sep 2022)

  • Smithtown Solar Installation Cost: $8,033
  • 25-Year Savings: $14,338
  • Payback Period: 9.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Smithtown

Here's how much it might cost to switch to solar power in Smithtown.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Smithtown, the typical cost of a solar system is $3 per watt. The average Smithtown homeowner needs a 3.9-kilowatt system, which would cost about $8,033, or $5,944 after the federal solar tax credit of 30% is applied.

The true cost of your system can be above or below the average in Smithtown based on a variety of factors, such as the model of solar panels you choose and the solar company you hire. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Smithtown see about $22,000 in savings on electricity bills over 20 years.

Click the button below to get connected to a vetted solar panel company in Smithtown for a customized estimate.

Solar savings over time in Smithtown

Year Return on Investment
1 years $-7,138
3 years $-5,348
5 years $-3,559
7 years $-1,769
9 years $21
11 years $1,810
13 years $3,600
15 years $5,390
17 years $7,179
19 years $8,969
21 years $10,759
23 years $12,548
25 years $14,338

Top Solar Installers in Smithtown

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring an installer can make swapping over to solar power much easier. A solar installer can also help save you money over time by providing warranties, repairs and system component replacements.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Smithtown

Factors that Affect Solar Panel Costs in Smithtown

For many Smithtown homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Smithtown, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment Size

One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,950 per kilowatt in Smithtown. The model of solar panels and equipment you choose is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment goes beyond 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's in your budget.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Smithtown, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

The remaining significant cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Smithtown, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that provides the products, warranties and services you want and also fit into your budget.

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 $21,650 9.3 years
8 kW $3.01 $16,850 $29,197 9.1 years
10 kW $2.95 $20,650 $36,909 9.0 years
12 kW $2.89 $24,284 $44,786 8.8 years
14 kW $2.83 $27,754 $52,829 8.6 years
16 kW $2.77 $31,058 $61,037 8.4 years
18 kW $2.71 $34,196 $69,410 8.3 years
20 kW $2.66 $37,170 $77,948 8.1 years

Solar Incentives in Smithtown

Name Residential Solar Tax Credit
Incentive Amount 25% for solar-electric (PV) and solar-thermal systems; for third-party owned systems this is in reference to the aggregate amount owed under the contract rather than the amount owed in any single year
Incentive Max $5,000 for solar-energy systems
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Local Option - Real Property Tax Exemption for Green Buildings
Incentive Amount Upon local adoption, 20% - 100% of real property taxes owed; varies by year and certification level
Website Visit here
More Info Click here

Name NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business)
Incentive Amount Incentive rates step down over time as MW goals are met. Incentive rates as of 11/27/2019 are:

Residential:
Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.30/W
Upstate Region: $0.35/W
Low-to-Moderate income customers: $0.80/W (up to 10 kW)

Small Commercial (Non-Residential):Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.60/W
Up State Region: $0.45/W

Multifamily Affordable Housing Adder: additional $0.40/W (up to 50 kW)
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR
Website Visit here
More Info Click here

Name NY Green Bank
Website Visit here
More Info Click here

Name Local Option - Solar Sales Tax Exemption
Incentive Amount Upon local authorization, 100% exemption from local sales tax
More Info Click here

Name Solar Sales Tax Exemption
Incentive Amount 100% exemption from state sales tax
Website Visit here
More Info Click here

Name Energy Conservation Improvements Property Tax Exemption
Incentive Amount 100% of the value added to the residence by the improvements
Website Visit here
More Info Click here

Name NY-Sun Loan Program
Website Visit here
More Info Click here

Name Local Option - Solar, Wind & Biomass Energy Systems Exemption
Incentive Amount 100% exemption for 15 years (unless local jurisdiction has opted out)
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar company you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:

  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
  • Solar Panel Brands: Different companies offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
  • Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Smithtown, NY Solar Cost FAQs

What is the average cost of installing solar panels in Smithtown?

The average cost of solar panels in Smithtown is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Smithtown?

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 don't have access to many solar incentives. Also your property 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.

Can solar panels significantly reduce my energy bills?

It is possible to erase your electricity bills with solar panels, but for most homeowners in Smithtown, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.

How many solar panels do I need to power 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 buy 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.

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