Solar Panel Cost Guide in North New Hyde Park, NY (2024 Update)
- North New Hyde Park Solar Installation Cost: $9,833
- 25-Year Savings: $18,812
- Payback Period: 9.2 Years
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Average Cost of Solar Panels in North New Hyde Park
Let’s take a look at the average cost of solar in North New Hyde Park.
In North New Hyde Park, solar panels cost about 4 per watt on average.Using this figure, a typical 3.8-kW system would cost about $9,833 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of going solar can vary depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.Despite the significant upfront cost, the average North New Hyde Park homeowner can save around $26,000 on their power bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a vetted solar company in North New Hyde Park that can help you get a more accurate cost estimate for your home.
Solar savings over time in North New Hyde Park
| Year | Return on Investment |
|---|---|
| 1 years | $-8,071 |
| 3 years | $-4,548 |
| 5 years | $-1,025 |
| 7 years | $2,498 |
| 9 years | $6,022 |
| 11 years | $9,545 |
| 13 years | $13,068 |
| 15 years | $16,591 |
| 17 years | $20,114 |
| 19 years | $23,637 |
| 21 years | $27,160 |
| 23 years | $30,684 |
| 25 years | $34,207 |
Top Solar Installers in North New Hyde Park
Although it's possible to install solar panels yourself, it takes extra effort and expertise. For that reason, most homeowners choose to go with a solar panel installer. In addition, if you’d like to maximize your investment in solar, using a solar company can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 North New Hyde Park
Factors that Affect Solar Panel Costs in North New Hyde Park
There are a number of factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $3,650 per kilowatt in North New Hyde Park.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable option 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.You’ll have to consider the long-term cost of financing options, including the total 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 more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in North New Hyde Park, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $25,776 | 9.6 years |
| 8 kW | $3.72 | $20,849 | $34,776 | 9.4 years |
| 10 kW | $3.65 | $25,550 | $43,981 | 9.2 years |
| 12 kW | $3.58 | $30,047 | $53,391 | 9.0 years |
| 14 kW | $3.50 | $34,339 | $63,005 | 8.8 years |
| 16 kW | $3.43 | $38,427 | $72,823 | 8.6 years |
| 18 kW | $3.36 | $42,311 | $82,846 | 8.5 years |
| 20 kW | $3.29 | $45,990 | $93,073 | 8.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Your solar installer should have a sound reputation as a company and have proven 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 good reviews from previous customers.
- Solar Panel Brands: The brand of solar panel you want to install plays a role in which company you should opt for, since different companies offer different panels.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
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 North New Hyde Park, NY Solar Cost FAQs
What is the average cost of installing solar panels in North New Hyde Park?
The average cost of solar panels in North New Hyde Park is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in North New Hyde Park?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Does North New Hyde Park have a net metering program?
Most states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in North New Hyde Park?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.