Solar Panel Cost Guide in Warwick, NY (2023 Update)
- Warwick Solar Installation Cost: $8,937
- 25-Year Savings: $17,653
- Payback Period: 8.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Warwick
Find out how much it might cost to install solar panels in Warwick.
In Warwick, solar panels cost about 2.95 per watt on average. To cover the typical energy needs of the average home in Warwick, most homeowners require a 4.3-kilowatt system. Using the figure above, a solar installation costs around $8,941, or $12,786 before the federal solar tax credit of 30% is applied.
These figures are just averages, and your own solar costs will most likely vary based on factors unique to your home and what company you choose to go with. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Warwick see about $23,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Warwick
| Year | Return on Investment |
|---|---|
| 1 years | $-7,603 |
| 3 years | $-4,935 |
| 5 years | $-2,268 |
| 7 years | $400 |
| 9 years | $3,067 |
| 11 years | $5,735 |
| 13 years | $8,403 |
| 15 years | $11,070 |
| 17 years | $13,738 |
| 19 years | $16,405 |
| 21 years | $19,073 |
| 23 years | $21,741 |
| 25 years | $24,408 |
Top Solar Installers in Warwick
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar panel installer can make switching to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your location and energy usage, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some 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 Warwick
Factors that Affect Solar Panel Costs in Warwick
For many Warwick homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Warwick, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $2,950 per kilowatt in Warwick. The type of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, 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 into a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Companies that only sell high-quality, high-efficiency and high-price products — 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 go with the company that provides the products, warranties and services you're looking for and also is 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 | $23,978 | 8.7 years |
| 8 kW | $3.01 | $16,850 | $32,300 | 8.6 years |
| 10 kW | $2.95 | $20,650 | $40,789 | 8.4 years |
| 12 kW | $2.89 | $24,284 | $49,442 | 8.2 years |
| 14 kW | $2.83 | $27,754 | $58,260 | 8.1 years |
| 16 kW | $2.77 | $31,058 | $67,244 | 7.9 years |
| 18 kW | $2.71 | $34,196 | $76,393 | 7.7 years |
| 20 kW | $2.66 | $37,170 | $85,707 | 7.6 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates 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
EcoWatch's Warwick, NY Solar Cost FAQs
What is the average cost of installing solar panels in Warwick?
The average cost of solar panels in Warwick is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Warwick?
Leasing solar panels can be an option if you can't 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 home 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 financial benefits from going solar.
Is it worth going solar in Warwick?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Even 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 their energy production will have decreased significantly after that point. You can choose to replace them once you've had 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.