Solar Panel Cost Guide in South Lockport, NY (2023 Update)
- South Lockport Solar Installation Cost: $8,590
- 25-Year Savings: $6,913
- Payback Period: 13.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in South Lockport
Find out what the average cost of a solar system is in South Lockport.
Currently, the national average cost of solar panels is $2.66 per watt. However, in South Lockport, the typical cost of solar panels is 2.95 per watt. The average South Lockport homeowner needs a 4.2-kilowatt system, which would cost about $8,590 with the federal tax credit, or $12,284 before the 30% tax credit is applied.
The true price you pay can be above or below the average in South Lockport depending on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire. Even with the significant upfront cost, the average South Lockport homeowner can save around $14,000 on their power bills over 20 years, which is one of the positives of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in South Lockport
| Year | Return on Investment |
|---|---|
| 1 years | $-7,970 |
| 3 years | $-6,730 |
| 5 years | $-5,490 |
| 7 years | $-4,249 |
| 9 years | $-3,009 |
| 11 years | $-1,769 |
| 13 years | $-529 |
| 15 years | $712 |
| 17 years | $1,952 |
| 19 years | $3,192 |
| 21 years | $4,433 |
| 23 years | $5,673 |
| 25 years | $6,913 |
Top Solar Installers in South Lockport
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make your swap to solar power much easier. The expertise that solar installers offer can be useful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
If you'd like to make the switch to solar but still aren't sure which solar panel company to go with, here are our suggestions for providers near you:
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 South Lockport
Factors that Affect Solar Panel Costs in South Lockport
The cost of installing a solar system in South Lockport can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,950. The kind of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Plus, 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
Many homeowners find the average cost of solar in South Lockport to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can affect the cost. South Lockport's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in South Lockport know more 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 help you save 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 | $9,478 | 14.4 years |
| 8 kW | $3.01 | $16,850 | $12,968 | 14.1 years |
| 10 kW | $2.95 | $20,650 | $16,623 | 13.9 years |
| 12 kW | $2.89 | $24,284 | $20,443 | 13.6 years |
| 14 kW | $2.83 | $27,754 | $24,428 | 13.3 years |
| 16 kW | $2.77 | $31,058 | $28,579 | 13.0 years |
| 18 kW | $2.71 | $34,196 | $32,894 | 12.7 years |
| 20 kW | $2.66 | $37,170 | $37,375 | 12.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose considerably impacts your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: If you're concerned about the endurance of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Different companies have various brands and models of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 South Lockport, NY Solar Cost FAQs
What is the average cost of installing solar panels in South Lockport?
This is a hard question to answer precisely, 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in South Lockport?
A solar panel system isn't free in South Lockport, 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 installing solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in South Lockport is currently $128,700, which means you can expect a value of about $5,277 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in South Lockport is a fruitful investment.
How long do solar panels last in South Lockport?
Even though 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 the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use 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.