Solar Panel Cost Guide in Woodmere, NY (2023 Update)
- Woodmere Solar Installation Cost: $7,947
- 25-Year Savings: $18,537
- Payback Period: 7.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Woodmere
Let's have a look at the average cost of solar panels in Woodmere.
While the national average of solar panels is $2.66 per watt, solar panels in Woodmere generally cost around 2.95. The average solar panel system size in Woodmere is around 3.9 kilowatts, meaning a cost of about $7,950 for a solar installation, or $11,368 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what installation company you go with. But, once you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $26,000 over 20 years on utility bills.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Woodmere
| Year | Return on Investment |
|---|---|
| 1 years | $-6,209 |
| 3 years | $-2,733 |
| 5 years | $743 |
| 7 years | $4,219 |
| 9 years | $7,695 |
| 11 years | $11,171 |
| 13 years | $14,646 |
| 15 years | $18,122 |
| 17 years | $21,598 |
| 19 years | $25,074 |
| 21 years | $28,550 |
| 23 years | $32,026 |
| 25 years | $35,502 |
Top Solar Installers in Woodmere
Many homeowners decide to use a solar installation company since installing solar panels on your own can be time-consuming. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
There are several licensed solar professionals that can help you install your solar panels. 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 Woodmere
Factors that Affect Solar Panel Costs in Woodmere
The cost of installing a solar system in Woodmere can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of solar panels in Woodmere, one of the most important 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 usage, which you can determine by looking at past energy bills. Your total cost can increase by around $2,950 for each additional kilowatt you need. There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far 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 Woodmere to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. You'll have to consider the long-term cost of financing options, including the amount of 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 finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Woodmere are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $28,406 | 7.8 years |
| 8 kW | $3.01 | $16,850 | $38,205 | 7.7 years |
| 10 kW | $2.95 | $20,650 | $48,169 | 7.5 years |
| 12 kW | $2.89 | $24,284 | $58,298 | 7.4 years |
| 14 kW | $2.83 | $27,754 | $68,593 | 7.2 years |
| 16 kW | $2.77 | $31,058 | $79,052 | 7.1 years |
| 18 kW | $2.71 | $34,196 | $89,677 | 6.9 years |
| 20 kW | $2.66 | $37,170 | $100,468 | 6.8 years |
How to Save on Solar Panels
The solar installer you go with will influence 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 several important things you should keep in mind, including:
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Solar Panel Brands: The brand of solar panel you need to install plays a role in which installer you should choose, since different companies have different panels.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of 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 positive reviews from past customers.
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 Woodmere, NY Solar Cost FAQs
What is the average cost of installing solar panels in Woodmere?
The average cost of solar panels in Woodmere is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,376.38 per year.
How long do solar panels last in Woodmere?
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 the amount of energy they produce will have decreased significantly after that point. You can opt 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.