Solar Panel Cost Guide in Southold, NY (2023 Update)
- Southold Solar Installation Cost: $8,033
- 25-Year Savings: $16,554
- Payback Period: 8.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Southold
See how much it might cost to go solar in Southold.
The average cost of solar panels in Southold is 2.95 per watt. To account for the typical energy needs of the average home in Southold, most homeowners require a 3.9-kilowatt system. Using the figure above, a solar installation costs around $8,033, or $11,487 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and the cost of going solar for you may differ based on your energy needs and what company you go with. For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $24,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Southold
| Year | Return on Investment |
|---|---|
| 1 years | $-7,049 |
| 3 years | $-5,082 |
| 5 years | $-3,115 |
| 7 years | $-1,148 |
| 9 years | $818 |
| 11 years | $2,785 |
| 13 years | $4,752 |
| 15 years | $6,719 |
| 17 years | $8,686 |
| 19 years | $10,653 |
| 21 years | $12,620 |
| 23 years | $14,587 |
| 25 years | $16,554 |
Top Solar Installers in Southold
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make swapping over to solar power much easier. Plus, if you're unsure what brand of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
If you're looking for a solar company in Southold, the EcoWatch team has compiled 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
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 Southold
Factors that Affect Solar Panel Costs in Southold
The cost of installing a solar system in Southold 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 the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,950. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Southold, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your all-in costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you get to install your solar system can affect the cost. Southold's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that provides the products, warranties and services you're looking for and also is within 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 | $25,071 | 8.5 years |
| 8 kW | $3.01 | $16,850 | $33,758 | 8.3 years |
| 10 kW | $2.95 | $20,650 | $42,611 | 8.2 years |
| 12 kW | $2.89 | $24,284 | $51,629 | 8.0 years |
| 14 kW | $2.83 | $27,754 | $60,812 | 7.8 years |
| 16 kW | $2.77 | $31,058 | $70,160 | 7.7 years |
| 18 kW | $2.71 | $34,196 | $79,674 | 7.5 years |
| 20 kW | $2.66 | $37,170 | $89,352 | 7.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: If you care about the endurance of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Review the contract terms thoroughly to make sure you understand the overall cost, project timeline rebates and warranties.
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 Southold, NY Solar Cost FAQs
What is the average cost of installing solar panels in Southold?
The average cost of solar panels in Southold 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Southold?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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 savings from going solar.
Do solar panels increase your property value?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't opt 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 many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.