Solar Panel Cost Guide in South Lockport, NY (2024 Update)
- South Lockport Solar Installation Cost: $10,627
- 25-Year Savings: $6,914
- Payback Period: 17.1 Years
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Average Cost of Solar Panels in South Lockport
Find out what the average cost of solar panel installation is in South Lockport.
The national average cost of solar panels is $2.66 per watt, but in South Lockport it’s 4 per watt.Using this figure, a typical 4.2-kW system would cost about $10,627 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary quite a bit based on several factors, such as what size system you need, your energy usage and what company you go with.With average savings of about $14,000 on electricity bills over 20 years, many homeowners in South Lockport find installing solar panels has a decent ROI.
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 | $-9,802 |
| 3 years | $-8,150 |
| 5 years | $-6,498 |
| 7 years | $-4,846 |
| 9 years | $-3,194 |
| 11 years | $-1,542 |
| 13 years | $110 |
| 15 years | $1,761 |
| 17 years | $3,413 |
| 19 years | $5,065 |
| 21 years | $6,717 |
| 23 years | $8,369 |
| 25 years | $10,021 |
Top Solar Installers in South Lockport
Trying to install solar panels by yourself can be a dangerous project, which is why getting a solar installation company is a good option for many homeowners. Also, if you’d like to maximize your investment in solar, opting for a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in South Lockport:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in South Lockport
Factors that Affect Solar Panel Costs in South Lockport
For many South Lockport homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in South Lockport, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,650. The kind of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many South Lockport homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in South Lockport is the company you choose to install your solar system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services at different price points.Additionally, some companies in South Lockport have more knowledge about local solar incentives and can help you learn about 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 | $3.80 | $15,943 | $6,420 | 17.8 years |
| 8 kW | $3.72 | $20,849 | $8,969 | 17.5 years |
| 10 kW | $3.65 | $25,550 | $11,723 | 17.1 years |
| 12 kW | $3.58 | $30,047 | $14,680 | 16.8 years |
| 14 kW | $3.50 | $34,339 | $17,842 | 16.5 years |
| 16 kW | $3.43 | $38,427 | $21,209 | 16.1 years |
| 18 kW | $3.36 | $42,311 | $24,780 | 15.8 years |
| 20 kW | $3.29 | $45,990 | $28,555 | 15.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: When making the switch to solar power, it’s crucial to keep an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the project timeline.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Warranty: If you care about the endurance of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's South Lockport, NY Solar Cost FAQs
What is the average cost of installing solar panels in South Lockport?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.