Solar Panel Cost Guide in Greenwich, NY (2024 Update)

  • Greenwich Solar Installation Cost: $11,763
  • 25-Year Savings: $5,996
  • Payback Period: 19.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Greenwich

We go over average solar pricing in Greenwich.

The average cost of a solar panel system in Greenwich is 4 per watt.The average solar panel system size in Greenwich is around 4.6 kilowatts, meaning a cost of about $11,763 for a solar installation, or $16,821 before the 0 federal solar tax credit is applied.

These figures are only estimates, and your own solar costs will most likely look different based on the amount of energy your home requires and what company you want to go with.Even with the large upfront cost, the average Greenwich homeowner can save around $13,000 on their energy bills over 20 years, which is one of the advantages of solar.

To receive a free quote from a pre-vetted solar installation company in Greenwich, you can click the button below.

Solar savings over time in Greenwich

Year Return on Investment
1 years $-10,937
3 years $-9,285
5 years $-7,633
7 years $-5,982
9 years $-4,330
11 years $-2,678
13 years $-1,026
15 years $626
17 years $2,278
19 years $3,930
21 years $5,581
23 years $7,233
25 years $8,885

Top Solar Installers in Greenwich

Trying to install solar panels yourself can be a challenging task, which is why getting a solar installation company is a good option for many homeowners. Plus, if you’re unsure what brand of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.

If you're looking for a solar installer in Greenwich, we've compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Greenwich

Factors that Affect Solar Panel Costs in Greenwich

For many Greenwich homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Greenwich, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also cost more. Additionally, 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

Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Greenwich homeowners decide to finance their solar panel systems to make paying for solar more affordable.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 the amount of time it’ll take to pay back the loan.

Solar Panel Installation Company

The final major cost factor you should consider is the installer you choose. Given the growing popularity of clean energy solutions in Greenwich, you’ll have lots of options to choose from, but each comes at varying 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 cost more. It’s best to do some research and choose a company that has the products, warranties and services you’re looking for and also fit into 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 $4,261 19.7 years
8 kW $3.72 $20,849 $6,091 19.3 years
10 kW $3.65 $25,550 $8,124 19.0 years
12 kW $3.58 $30,047 $10,363 18.6 years
14 kW $3.50 $34,339 $12,805 18.2 years
16 kW $3.43 $38,427 $15,452 17.8 years
18 kW $3.36 $42,311 $18,303 17.5 years
20 kW $3.29 $45,990 $21,359 17.1 years

How to Save on Solar Panels

The solar panel company you go with will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:

  • Contract: Before you sign a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Warranty: If you’re worried about the endurance of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
  • Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Greenwich, NY Solar Cost FAQs

What is the average cost of installing solar panels in Greenwich?

This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally 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 other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Are solar panels free in Greenwich?

A solar panel system isn’t free in Greenwich, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

Do solar panels increase your home value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Greenwich is currently $279,398, so you can look forward to a value of about $11,455 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Greenwich is a rewarding investment.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is 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 larger 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.

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