Solar Panel Cost Guide in Niagara Falls, NY (2024 Update)
- Niagara Falls Solar Installation Cost: $10,627
- 25-Year Savings: $7,618
- Payback Period: 16.4 Years
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Average Cost of Solar Panels in Niagara Falls
Find out what the average cost of solar panel installation is in Niagara Falls.
In Niagara Falls, solar panels cost about 4 per watt on average.The average Niagara Falls homeowner needs a 4.2-kilowatt system, which would cost about $10,627 with the federal tax credit, or $15,197 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what company you go with.Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Niagara Falls can save around $15,000 on their energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Niagara Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-9,719 |
| 3 years | $-7,902 |
| 5 years | $-6,085 |
| 7 years | $-4,267 |
| 9 years | $-2,450 |
| 11 years | $-633 |
| 13 years | $1,184 |
| 15 years | $3,001 |
| 17 years | $4,818 |
| 19 years | $6,635 |
| 21 years | $8,453 |
| 23 years | $10,270 |
| 25 years | $12,087 |
Top Solar Installers in Niagara Falls
When going solar, many homeowners choose to go with a solar company since DIY solar panel installation can be a difficult project. Plus, if you’re unsure what type 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 Niagara Falls, we've organized a list of our top suggestions here:
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 Niagara Falls
Factors that Affect Solar Panel Costs in Niagara Falls
While the average cost of a solar system in Niagara Falls is $10,627, your actual cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,650. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Niagara Falls average.
Solar Financing Terms
Many homeowners find the average cost of solar in Niagara Falls to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.Although solar loans make going solar more accessible for Niagara Falls homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installation company you select will play a role in your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Niagara Falls know more about local solar incentives and can help you make good use of 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 | $3.80 | $15,943 | $7,435 | 17.0 years |
| 8 kW | $3.72 | $20,849 | $10,322 | 16.7 years |
| 10 kW | $3.65 | $25,550 | $13,414 | 16.4 years |
| 12 kW | $3.58 | $30,047 | $16,710 | 16.1 years |
| 14 kW | $3.50 | $34,339 | $20,210 | 15.7 years |
| 16 kW | $3.43 | $38,427 | $23,915 | 15.4 years |
| 18 kW | $3.36 | $42,311 | $27,824 | 15.1 years |
| 20 kW | $3.29 | $45,990 | $31,938 | 14.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: The model of solar panel you want to get plays a part in which installer you should opt for, since different companies have different panels.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely provide quality solar panel installation and expertise.
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 Niagara Falls, NY Solar Cost FAQs
What is the average cost of installing solar panels in Niagara Falls?
This is a tough question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, 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 Niagara Falls?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to 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.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Niagara Falls, 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 Niagara Falls?
Although 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 choose to replace them once you've had them for that long or you can keep using 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.