Solar Panel Cost Guide in Thornwood, NY (Sep 2022)
- Thornwood Solar Installation Cost: $8,652
- 25-Year Savings: $24,687
- Payback Period: 6.5 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Thornwood
We go over average solar pricing in Thornwood.
The national average cost of solar panels is $2.66 per watt, but in Thornwood it's $3 per watt. The average solar panel system size in Thornwood is around 4.2 kilowatts, meaning a cost of about $8,652 for a solar installation, or $6,402 after the 30% federal solar tax credit is applied.
The actual price you pay can be above or below the average in Thornwood based on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire. But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $30,000 over 20 years on power bills.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Thornwood
| Year | Return on Investment |
|---|---|
| 1 years | $-7,319 |
| 3 years | $-4,652 |
| 5 years | $-1,984 |
| 7 years | $683 |
| 9 years | $3,350 |
| 11 years | $6,017 |
| 13 years | $8,684 |
| 15 years | $11,351 |
| 17 years | $14,019 |
| 19 years | $16,686 |
| 21 years | $19,353 |
| 23 years | $22,020 |
| 25 years | $24,687 |
Top Solar Installers in Thornwood
Putting up solar panels yourself can be a difficult task, which is why using a solar installation company is a good option for many homeowners. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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
The Green Panel
- 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 Thornwood
Factors that Affect Solar Panel Costs in Thornwood
There are many factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment Size
When it comes to estimating the cost of a solar energy system in Thornwood, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past energy bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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, more efficient panels could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Thornwood average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular route because they decrease 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 can only 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 APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Some companies 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 come at a higher cost. It's best to do some research and choose a company that offers the products, warranties and services you're looking for and also fit into 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 | $34,898 | 6.7 years |
| 8 kW | $3.01 | $16,850 | $46,861 | 6.6 years |
| 10 kW | $2.95 | $20,650 | $58,989 | 6.5 years |
| 12 kW | $2.89 | $24,284 | $71,283 | 6.4 years |
| 14 kW | $2.83 | $27,754 | $83,741 | 6.2 years |
| 16 kW | $2.77 | $31,058 | $96,365 | 6.1 years |
| 18 kW | $2.71 | $34,196 | $109,154 | 6.0 years |
| 20 kW | $2.66 | $37,170 | $122,108 | 5.8 years |
Solar Incentives in Thornwood
| Name | State of NY Commercial PACE Financing Program |
| Incentive Amount | Locally determined |
| Website | Visit here |
| More Info | Click here |
| Name | Residential Solar Tax Credit |
| Website | Visit here |
| More Info | Click here |
| Name | Refundable Clean Heating Fuel Tax Credit (Corporate) |
| More Info | Click here |
| Name | NY-Sun Loan Program |
| Website | Visit here |
| More Info | Click here |
| Name | Residential Wood Heating Fuel Exemption |
| Incentive Amount | 100% exemption |
| More Info | Click here |
| Name | Local Option - Solar Sales Tax Exemption |
| More Info | Click here |
| Name | Solar Sales Tax Exemption |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Real Property Tax Exemption for Green Buildings |
| Website | Visit here |
| More Info | Click here |
| Name | Energy Conservation Improvements Property Tax Exemption |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Solar, Wind & Biomass Energy Systems Exemption |
| Website | Visit here |
| More Info | Click here |
| Name | NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business) |
| Website | Visit here |
| More Info | Click here |
| Name | Ground Source Heat Pump Rebate Program |
| Website | Visit here |
| More Info | Click here |
| Name | Home Performance with ENERGY STAR |
| Incentive Amount | |
| Website | Visit here |
| More Info | Click here |
| Name | NY Green Bank |
| Website | Visit here |
| More Info | Click here |
| Name | Refundable Clean Heating Fuel Tax Credit (Personal) |
| Website | Visit here |
| More Info | Click here |
| Name | On-Site Wind Incentive Program |
| Website | Visit here |
| More Info | Click here |
| Name | Anaerobic Digester Gas-to-Electricity Rebate and Performance Incentive |
| Website | Visit here |
| More Info | Click here |
| Name | Residential Renewable Energy Tax Credit |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: If you care about the longevity of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
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
The Green Panel
- 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 Thornwood, NY Solar Cost FAQs
What is the average cost of installing solar panels in Thornwood?
This is a hard question to answer precisely, because the cost depends on a variety of 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Thornwood?
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 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 savings from going solar.
Can you sell solar power back to the grid in Thornwood?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.
