Solar Panel Cost Guide in Spring Valley, NY (Oct 2022)

  • Spring Valley Solar Installation Cost: $8,756
  • 25-Year Savings: $18,344
  • Payback Period: 8.1 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Spring Valley

Let's take a look at the average cost of solar panels in Spring Valley.

While the national average of solar panels is $2.66 per watt, solar panels in Spring Valley typically cost about $3. Using this figure, a typical 4.2 would cost about $8,756 before the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. With average savings of about $24,000 on utility bills over 20 years, many homeowners in Spring Valley find investing in solar can be quite rewarding.

Click the button below to get connected to a vetted solar panel company in Spring Valley for a custom estimate.

Solar savings over time in Spring Valley

Year Return on Investment
1 years $-7,672
3 years $-5,504
5 years $-3,336
7 years $-1,168
9 years $1,000
11 years $3,168
13 years $5,336
15 years $7,504
17 years $9,672
19 years $11,840
21 years $14,008
23 years $16,176
25 years $18,344

Top Solar Installers in Spring Valley

When going solar, many homeowners opt to use a solar company since handling can be a challenging project. Plus, if you're not certain what brand of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.

There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Spring Valley

Factors that Affect Solar Panel Costs in Spring Valley

Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Spring Valley: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size. Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,950. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Spring Valley average.

Solar Financing Terms

Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Spring Valley homeowners opt to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your total costs, so it's vital to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

Lastly, the company you get to install your solar panel system can affect your pricing. Spring Valley's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.

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 $25,446 8.4 years
8 kW $3.01 $16,850 $34,259 8.2 years
10 kW $2.95 $20,650 $43,236 8.1 years
12 kW $2.89 $24,284 $52,379 7.9 years
14 kW $2.83 $27,754 $61,687 7.8 years
16 kW $2.77 $31,058 $71,161 7.6 years
18 kW $2.71 $34,196 $80,799 7.4 years
20 kW $2.66 $37,170 $90,603 7.3 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. Since selecting a company can be a tough decision, we have some tips to help you, such as:

  • Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
  • Contract: Review the contract terms thoroughly to make sure you understand the total cost, completion timeline incentives and warranties.
  • Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Spring Valley, NY Solar Cost FAQs

What is the average cost of installing solar panels in Spring Valley?

This is a tough question to answer precisely, because the cost depends on many 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Spring Valley?

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 property 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 bang for your buck from going solar.

Do solar panels increase your property value?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Spring Valley is currently $508,382, which means you could be looking at a value of about $20,844 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Spring Valley is a fruitful investment.

What solar power system size is right for my home?

To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.

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