Solar Panel Cost Guide in Grand Island, NY (2024 Update)
- Grand Island Solar Installation Cost: $11,696
- 25-Year Savings: $11,018
- Payback Period: 18.0 Years
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Average Cost of Solar Panels in Grand Island
Let’s take a look at the average cost of solar panels in Grand Island.
The national average cost of solar panels is $2.66 per watt, but in Grand Island it’s 4 per watt.To cover the typical energy needs of the average home in Grand Island, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,696, or $16,725 before the federal solar tax credit of 0 is applied.
The true price you pay can be higher or lower than the average in Grand Island depending on several factors, such as the brand of solar panels you choose and the solar contractor you hire.Despite the significant upfront cost, the average Grand Island homeowner can save about $13,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a top solar company in Grand Island that can help you get a more accurate cost estimate for your home.
Solar savings over time in Grand Island
| Year | Return on Investment |
|---|---|
| 1 years | $-10,787 |
| 3 years | $-8,970 |
| 5 years | $-7,153 |
| 7 years | $-5,336 |
| 9 years | $-3,519 |
| 11 years | $-1,702 |
| 13 years | $116 |
| 15 years | $1,933 |
| 17 years | $3,750 |
| 19 years | $5,567 |
| 21 years | $7,384 |
| 23 years | $9,201 |
| 25 years | $11,018 |
Top Solar Installers in Grand Island
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make switching to solar power much easier. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Grand Island
Factors that Affect Solar Panel Costs in Grand Island
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Grand Island: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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 for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Grand Island, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $5,299 | 18.8 years |
| 8 kW | $3.72 | $20,849 | $7,475 | 18.4 years |
| 10 kW | $3.65 | $25,550 | $9,854 | 18.0 years |
| 12 kW | $3.58 | $30,047 | $12,438 | 17.7 years |
| 14 kW | $3.50 | $34,339 | $15,227 | 17.3 years |
| 16 kW | $3.43 | $38,427 | $18,220 | 17.0 years |
| 18 kW | $3.36 | $42,311 | $21,417 | 16.6 years |
| 20 kW | $3.29 | $45,990 | $24,819 | 16.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Reputation: Your solar installer should have a solid 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: The kind of solar panel you need to install plays a part in which installer you should opt for, since different companies have access to different panels.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Grand Island, NY Solar Cost FAQs
What is the average cost of installing solar panels in Grand Island?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Grand Island?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Grand Island have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having 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.