Solar Panel Cost Guide in Riga, NY (2024 Update)
- Riga Solar Installation Cost: $10,653
- 25-Year Savings: $8,137
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Riga
We break down average solar pricing in Riga.
The national average cost of solar panels is $2.66 per watt, but in Riga it’s 4 per watt.Because a 4.2-kW system is needed to cover the energy costs of a typical home in Riga, the average price of going solar will be about $10,653 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what installation company you go with.With average savings of about $15,000 on electricity bills over 20 years, many homeowners in Riga find investing in solar can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in Riga that can help you get a more accurate cost estimate for your home.
Solar savings over time in Riga
| Year | Return on Investment |
|---|---|
| 1 years | $-9,744 |
| 3 years | $-7,927 |
| 5 years | $-6,110 |
| 7 years | $-4,293 |
| 9 years | $-2,476 |
| 11 years | $-658 |
| 13 years | $1,159 |
| 15 years | $2,976 |
| 17 years | $4,793 |
| 19 years | $6,610 |
| 21 years | $8,427 |
| 23 years | $10,244 |
| 25 years | $12,062 |
Top Solar Installers in Riga
Putting up solar panels on your own can be a stressful project, which is why hiring a solar installation company is a good option for many homeowners. Another good thing about using a vetted solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
There are several licensed solar professionals that can take care of your solar installation project. 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 Riga
Factors that Affect Solar Panel Costs in Riga
For many Riga homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Riga, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $3,650 per kilowatt in Riga.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, 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 in cash is out of reach, solar loans are a popular route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Riga, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $8,156 | 16.5 years |
| 8 kW | $3.72 | $20,849 | $11,284 | 16.2 years |
| 10 kW | $3.65 | $25,550 | $14,616 | 15.9 years |
| 12 kW | $3.58 | $30,047 | $18,152 | 15.6 years |
| 14 kW | $3.50 | $34,339 | $21,893 | 15.3 years |
| 16 kW | $3.43 | $38,427 | $25,838 | 14.9 years |
| 18 kW | $3.36 | $42,311 | $29,987 | 14.6 years |
| 20 kW | $3.29 | $45,990 | $34,341 | 14.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Contract: Before you sign a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
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 Riga, NY Solar Cost FAQs
What is the average cost of installing solar panels in Riga?
The average cost of solar panels in Riga 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 certain factors 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 Riga?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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 bang for your buck from going solar.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
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 choose to replace them after having 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.