Solar Panel Cost Guide in Southport, NY (2023 Update)
- Southport Solar Installation Cost: $9,520
- 25-Year Savings: $5,068
- Payback Period: 16.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Southport
Let's take a look at the average cost of solar panels in Southport.
In Southport, solar panels cost about 2.95 per watt on average. Since a 4.6-kW system is needed to cover the energy needs of a typical home in Southport, the average price of going solar will be about $9,520 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar panels you choose, your solar contractor and more. Even with the large upfront cost, the average Southport homeowner can save around $12,000 on their power bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Southport
| Year | Return on Investment |
|---|---|
| 1 years | $-8,936 |
| 3 years | $-7,769 |
| 5 years | $-6,602 |
| 7 years | $-5,435 |
| 9 years | $-4,268 |
| 11 years | $-3,101 |
| 13 years | $-1,934 |
| 15 years | $-767 |
| 17 years | $400 |
| 19 years | $1,567 |
| 21 years | $2,734 |
| 23 years | $3,901 |
| 25 years | $5,068 |
Top Solar Installers in Southport
Many homeowners opt for a solar panel installer since figuring out how to install solar panels by yourself can be time-consuming. The expertise that solar companies offer can be helpful as well, particularly if you don't quite know what brand of solar equipment you need.
If you'd like to make the switch to solar but still aren't certain which solar system installer to go with, here are our suggestions for providers in Southport:
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 Southport
Factors that Affect Solar Panel Costs in Southport
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Southport: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,950 per kilowatt in Southport. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular route because they lower your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Southport, you'll have plenty of options to choose from, but each comes at various price points for labor and 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 with an above-average cost. It's best to do some research and decide on the company that provides the products, warranties and services you want 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 | $6,104 | 17.0 years |
| 8 kW | $3.01 | $16,850 | $8,468 | 16.6 years |
| 10 kW | $2.95 | $20,650 | $10,999 | 16.3 years |
| 12 kW | $2.89 | $24,284 | $13,694 | 16.0 years |
| 14 kW | $2.83 | $27,754 | $16,554 | 15.7 years |
| 16 kW | $2.77 | $31,058 | $19,580 | 15.3 years |
| 18 kW | $2.71 | $34,196 | $22,771 | 15.0 years |
| 20 kW | $2.66 | $37,170 | $26,127 | 14.7 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Before signing a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
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 Southport, NY Solar Cost FAQs
How much does it cost to install solar panels in Southport?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly 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 above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Southport is currently $96,749, so you could be looking at a value of about $3,967 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Southport is a fruitful investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.