Solar Panel Cost Guide in Valley Stream, NY (2023 Update)
- Valley Stream Solar Installation Cost: $7,950
- 25-Year Savings: $19,905
- Payback Period: 7.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Valley Stream
Let's take a look at the average cost of solar panels in Valley Stream.
In Valley Stream, solar panels cost about 2.95 per watt on average. To account for the typical energy usage of the average home in Valley Stream, most homeowners require a 3.9-kilowatt system. Using the per-watt figure above, a solar installation costs around $7,950, or $11,368 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Valley Stream homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Valley Stream can save about $28,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Valley Stream
| Year | Return on Investment |
|---|---|
| 1 years | $-6,836 |
| 3 years | $-4,608 |
| 5 years | $-2,379 |
| 7 years | $-151 |
| 9 years | $2,078 |
| 11 years | $4,306 |
| 13 years | $6,534 |
| 15 years | $8,763 |
| 17 years | $10,991 |
| 19 years | $13,220 |
| 21 years | $15,448 |
| 23 years | $17,677 |
| 25 years | $19,905 |
Top Solar Installers in Valley Stream
Although it's possible to install solar panels on your own, it requires extra labor and handiness. Because of that, most people choose to hire a solar panel installer. Plus, if you're not certain what brand of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Valley Stream
Factors that Affect Solar Panel Costs in Valley Stream
There are a number of factors that can determine your solar panel 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
The size of the solar 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 around $2,950. The type of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. 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 searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are provided by most installers in Valley Stream, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. Though solar loans make switching to solar energy more accessible for Valley Stream homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can impact your pricing. Valley Stream's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $30,543 | 7.4 years |
| 8 kW | $3.01 | $16,850 | $41,055 | 7.3 years |
| 10 kW | $2.95 | $20,650 | $51,732 | 7.1 years |
| 12 kW | $2.89 | $24,284 | $62,573 | 7.0 years |
| 14 kW | $2.83 | $27,754 | $73,581 | 6.8 years |
| 16 kW | $2.77 | $31,058 | $84,753 | 6.7 years |
| 18 kW | $2.71 | $34,196 | $96,090 | 6.6 years |
| 20 kW | $2.66 | $37,170 | $107,593 | 6.4 years |
How to Save on Solar Panels
The solar company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:
- Contract: Review the contract terms carefully to make sure you understand the overall cost, completion timeline incentives and warranties.
- Reputation: Well-established 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 quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
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 Valley Stream, NY Solar Cost FAQs
How much does it cost to install solar panels in Valley Stream?
This is a difficult 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact my home value?
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 Valley Stream is currently $442,496, so you could be looking at a value of about $18,142 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Valley Stream is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.