Solar Panel Cost Guide in Wading River, NY (2024 Update)
- Wading River Solar Installation Cost: $9,930
- 25-Year Savings: $14,345
- Payback Period: 11.1 Years
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Average Cost of Solar Panels in Wading River
Here’s how much it might cost to switch to solar power in Wading River.
In Wading River, solar panels cost about 4 per watt on average.The average Wading River homeowner needs a 3.9-kilowatt system, which would cost about $9,930 with the federal tax credit, or $14,200 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with.For many homeowners, the upfront cost of solar power is worth paying. On average Wading River homeowners see about $22,000 in savings on utility bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Wading River
| Year | Return on Investment |
|---|---|
| 1 years | $-8,405 |
| 3 years | $-5,354 |
| 5 years | $-2,303 |
| 7 years | $747 |
| 9 years | $3,798 |
| 11 years | $6,849 |
| 13 years | $9,899 |
| 15 years | $12,950 |
| 17 years | $16,001 |
| 19 years | $19,051 |
| 21 years | $22,102 |
| 23 years | $25,153 |
| 25 years | $28,204 |
Top Solar Installers in Wading River
Although it's possible to install solar panels by yourself, it requires extra energy and knowledge. That's one of the reasons almost all homeowners choose a solar panel installer. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you’d like to go solar but still aren’t certain which solar panel company to go with, here are our suggestions for providers 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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Wading River
Factors that Affect Solar Panel Costs in Wading River
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Wading River: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Wading River, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Wading River to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Wading River is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to 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 | $3.80 | $15,943 | $18,592 | 11.5 years |
| 8 kW | $3.72 | $20,849 | $25,198 | 11.3 years |
| 10 kW | $3.65 | $25,550 | $32,009 | 11.1 years |
| 12 kW | $3.58 | $30,047 | $39,024 | 10.9 years |
| 14 kW | $3.50 | $34,339 | $46,243 | 10.7 years |
| 16 kW | $3.43 | $38,427 | $53,667 | 10.4 years |
| 18 kW | $3.36 | $42,311 | $61,295 | 10.2 years |
| 20 kW | $3.29 | $45,990 | $69,128 | 10.0 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose considerably influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When reading through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: The type of solar panel you’d like to install plays a part in which installer you should go with, since different companies provide different panels.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Wading River, NY Solar Cost FAQs
How much does it cost to install solar panels in Wading River?
The average cost of solar panels in Wading River is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Wading River?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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 get 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.