Solar Panel Cost Guide in South Lockport, NY (2023 Update)
- South Lockport Solar Installation Cost: $8,589
- 25-Year Savings: $6,914
- Payback Period: 13.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in South Lockport
We go over average solar pricing in South Lockport.
Currently, the national average cost of solar panels is $2.66 per watt. However, in South Lockport, the average cost of a solar system is 2.95 per watt. Using this figure, a typical 4.2-kW system would cost about $8,590 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. Even with the significant upfront cost, the average South Lockport homeowner can save about $14,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free estimate from a pre-vetted solar installer in South Lockport, you can click the button below.
Solar savings over time in South Lockport
| Year | Return on Investment |
|---|---|
| 1 years | $-7,763 |
| 3 years | $-6,112 |
| 5 years | $-4,460 |
| 7 years | $-2,808 |
| 9 years | $-1,156 |
| 11 years | $496 |
| 13 years | $2,148 |
| 15 years | $3,800 |
| 17 years | $5,451 |
| 19 years | $7,103 |
| 21 years | $8,755 |
| 23 years | $10,407 |
| 25 years | $12,059 |
Top Solar Installers in South Lockport
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with a solar panel installer can make switching to solar power much easier. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're looking for a solar company in South Lockport, the EcoWatch team has organized a list of our top suggestions here:
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 South Lockport
Factors that Affect Solar Panel Costs in South Lockport
Although the average cost of a solar system in South Lockport is $8,590, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar energy system in South Lockport, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than 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 falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in South Lockport, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in South Lockport, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in South Lockport 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 | $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
There are a large number of companies available in South Lockport, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Companies that have been in business for many years 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 adequate aftercare and customer support, such as part repairs and replacements.
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 South Lockport, NY Solar Cost FAQs
How much does it cost to install solar panels in South Lockport?
The average cost of solar panels in South Lockport 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 model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
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.