Solar Panel Cost Guide in The Bronx, NY (2023 Update)
- The Bronx Solar Installation Cost: $8,012
- 25-Year Savings: $25,328
- Payback Period: 6.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in The Bronx
We go over average solar pricing in The Bronx.
The national average cost of solar panels is $2.66 per watt, but in The Bronx it's 2.95 per watt. Since a 3.9-kW system is needed to cover the energy consumption of a typical home in The Bronx, the average price of going solar will be about $8,012 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average The Bronx homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $33,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a top solar company in The Bronx for a quote for your home.
Solar savings over time in The Bronx
| Year | Return on Investment |
|---|---|
| 1 years | $-6,679 |
| 3 years | $-4,011 |
| 5 years | $-1,344 |
| 7 years | $1,323 |
| 9 years | $3,990 |
| 11 years | $6,657 |
| 13 years | $9,324 |
| 15 years | $11,992 |
| 17 years | $14,659 |
| 19 years | $17,326 |
| 21 years | $19,993 |
| 23 years | $22,660 |
| 25 years | $25,328 |
Top Solar Installers in The Bronx
Although you can install solar panels on your own, it involves extra energy and know-how. For that reason, almost all homeowners choose to go with a solar panel installer. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in The Bronx:
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 The Bronx
Factors that Affect Solar Panel Costs in The Bronx
There are many criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
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 consumes, the larger your system will likely need to be. You can expect to spend around $2,950 per kilowatt in The Bronx. The type of solar panels and equipment you want is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond 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 into a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Even though solar loans make adopting solar energy more accessible for The Bronx homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in The Bronx, and each can charge different amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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
Since the model of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, project timeline incentives 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 The Bronx, NY Solar Cost FAQs
What is the average cost of installing solar panels in The Bronx?
This is a tough question to answer exactly, because the cost depends on a few different 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 cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive 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 secure a solar loan, but since you don't own the system, you don't have access to 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 switching to solar power worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
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 how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.