Solar Panel Cost Guide in Great Neck Plaza, NY (2024 Update)
- Great Neck Plaza Solar Installation Cost: $9,833
- 25-Year Savings: $14,424
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Great Neck Plaza
Find out how much it might cost to go solar in Great Neck Plaza.
Although the national average of solar panels is $2.66 per watt, solar panels in Great Neck Plaza generally cost about 4.Since a 3.8-kW system is needed to cover the energy consumption of a typical home in Great Neck Plaza, the average price of going solar will be about $9,833 after claiming the federal solar tax credit of 0.
These figures are just averages, and your own solar costs may look different based on the amount of energy your home requires and what company you choose to go with.For most homeowners, the upfront investment in solar panels is worth paying. On average Great Neck Plaza homeowners see about $22,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a highly rated solar installer in your area for a custom quote.
Solar savings over time in Great Neck Plaza
| Year | Return on Investment |
|---|---|
| 1 years | $-8,307 |
| 3 years | $-5,257 |
| 5 years | $-2,206 |
| 7 years | $845 |
| 9 years | $3,896 |
| 11 years | $6,946 |
| 13 years | $9,997 |
| 15 years | $13,048 |
| 17 years | $16,098 |
| 19 years | $19,149 |
| 21 years | $22,200 |
| 23 years | $25,250 |
| 25 years | $28,301 |
Top Solar Installers in Great Neck Plaza
Many homeowners opt for a solar installation company since trying to put up solar panels yourself can be a lot of work. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are various licensed solar professionals that can take care of your solar installation project. 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Great Neck Plaza
Factors that Affect Solar Panel Costs in Great Neck Plaza
There are several criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you’re looking to install 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
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they reduce your upfront costs and let you pay for your system over five to seven years on average.While solar loans make adopting solar energy more accessible for Great Neck Plaza homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Great Neck Plaza, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — 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 offers the products, warranties and services you want 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 | $3.80 | $15,943 | $18,935 | 11.4 years |
| 8 kW | $3.72 | $20,849 | $25,656 | 11.2 years |
| 10 kW | $3.65 | $25,550 | $32,580 | 11.0 years |
| 12 kW | $3.58 | $30,047 | $39,710 | 10.8 years |
| 14 kW | $3.50 | $34,339 | $47,043 | 10.5 years |
| 16 kW | $3.43 | $38,427 | $54,581 | 10.3 years |
| 18 kW | $3.36 | $42,311 | $62,324 | 10.1 years |
| 20 kW | $3.29 | $45,990 | $70,271 | 9.9 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: The type of solar panel you need plays a role in which company you should choose, since different companies have access to different panels.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Great Neck Plaza, NY Solar Cost FAQs
How much does it cost to install solar panels in Great Neck Plaza?
The average cost of solar panels in Great Neck Plaza is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real 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 Great Neck Plaza?
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 get the most savings.
How much can I save on electricity bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Great Neck Plaza, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Great Neck Plaza?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.