Solar Panel Cost Guide in The Bronx, NY (2023 Update)
- The Bronx Solar Installation Cost: $8,005
- 25-Year Savings: $25,335
- Payback Period: 6.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in The Bronx
We break down average solar pricing in The Bronx.
Currently, the national average cost of solar panels is $2.66 per watt. However, in The Bronx, the typical cost of solar panels is 2.95 per watt. Using this figure, a typical 3.9-kW system would cost about $8,012 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more. Even with the high upfront cost, the average The Bronx homeowner can save about $33,000 on their energy bills over 20 years, which is one of the perks of solar.
To get a free quote from a vetted solar installer in The Bronx, you can click the button below.
Solar savings over time in The Bronx
| Year | Return on Investment |
|---|---|
| 1 years | $-6,125 |
| 3 years | $-2,365 |
| 5 years | $1,394 |
| 7 years | $5,153 |
| 9 years | $8,913 |
| 11 years | $12,672 |
| 13 years | $16,431 |
| 15 years | $20,191 |
| 17 years | $23,950 |
| 19 years | $27,710 |
| 21 years | $31,469 |
| 23 years | $35,228 |
| 25 years | $38,988 |
Top Solar Installers in The Bronx
Many homeowners opt for a solar panel company since figuring out how to install solar panels by yourself can be hard. Plus, if you're unsure what kind of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
If you'd like to start using solar energy but still aren't certain which solar panel installer to go with, here are our recommendations for providers near you:
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 The Bronx
Factors that Affect Solar Panel Costs in The Bronx
The cost of installing a solar system in The Bronx can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need for your household, 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 $2,950. The model of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, 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 looking for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many The Bronx homeowners choose to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in The Bronx, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for and also fits 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 | $38,720 | 6.2 years |
| 8 kW | $3.01 | $16,850 | $51,957 | 6.1 years |
| 10 kW | $2.95 | $20,650 | $65,359 | 6.0 years |
| 12 kW | $2.89 | $24,284 | $78,926 | 5.9 years |
| 14 kW | $2.83 | $27,754 | $92,659 | 5.8 years |
| 16 kW | $2.77 | $31,058 | $106,557 | 5.6 years |
| 18 kW | $2.71 | $34,196 | $120,620 | 5.5 years |
| 20 kW | $2.66 | $37,170 | $134,848 | 5.4 years |
How to Save on Solar Panels
The solar installer you choose will influence 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 a few important things you should keep in mind, including:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
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 The Bronx, NY Solar Cost FAQs
How much does it cost to install solar panels in The Bronx?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally 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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in The Bronx?
Leasing solar panels can be an option if you are unable to pay upfront or get 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.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of 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?
Although 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 their energy production will have decreased significantly after that point. You can replace them once you've had 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.