COST OF SOLAR PANELS IN NYC
HOW MUCH DO SOLAR PANELS COST IN NYC?
The average cost of a solar system installation in New York City varies depending on a number of factors and can look much different than other areas of the country. You can expect the cost of your NYC solar installation to be offset by 75% or more due to the rich solar incentives available here. The price of a solar project starts at $30,000 before incentives.
When you go solar with us, your customized project cost includes equipment, installation, permitting, and our unparalleled 30-year warranty package. With flexible payment options available, you may purchase your system outright or finance it for $0 down.
As a solar owner, you can expect electric bill savings of $50,000+ over the lifetime of your system.
CALCULATE YOUR SOLAR SAVINGS
Solar in New York City is unique. Compared to other areas of the country, there are specific economic and regulatory conditions here that affect the financial picture for a homeowner looking to go solar.
That’s why we’ve developed our very own NYC Solar Calculator.
Get an instant, realistic estimate for home solar in New York City now!
WHAT AFFECTS SOLAR INSTALLATION COST IN NYC?
Your solar system will be custom-designed by our in-house team to fit your home’s energy needs and maximize your roof’s solar potential. Your price-per-watt will be influenced by a few key factors.
Solar System Size & Capacity
Our solar installation pricing is largely determined by system size. The size of your system depends on your home’s energy needs and what’s structurally feasible for your roof.
Larger systems with more solar panels, like our Brooklyn Solar Canopy, will carry a higher price tag (but also yield greater savings and energy production).
In order to provide you with a custom proposal, we’ll ask for your electric bill and whether you expect any greater loads in the future (like an electric HVAC system or EV charger). This information allows us to design a system that covers your needs.
Quality of Solar Panels & Equipment
Your solar system will be built with materials and components from industry leading suppliers, such as REC, Qcells, SMA, and Enphase.
We strive to source panels and equipment that are both high quality and the most compatible with NYC’s building stock and power grid. Your home needs a reliable power source that’ll last, so we don’t cut corners by using the cheapest equipment available.
Installation Complexity in NYC
Construction isn’t easy in New York City. In fact, the complex bureaucracy and stringent regulations involved with installing solar here have historically been a major barrier for contractors. We’ve got the process down to a science, but the complexity of your solar project can affect the time and resources it takes to permit and install your system.
Our expert in-house permitting team can obtain the proper permits in 2-4 months, and our adept install crew will complete your installation in 1-2 days.
NYC SOLAR INCENTIVES
New York City is a unique solar market – not only because of its stringent regulations and skyrocketing electricity rates, but also because of its rich government incentives.
With federal, state, and local solar tax credits and rebates available, anywhere from 75-95% of your project cost is covered.
Avoid Rising Energy Costs with Net Metering
Utility rates in NYC are some of the highest in the country, and they increase significantly every year.
As a solar owner, you’ll remain connected to the grid. But Con Edison awards retail credits for the excess solar power your system exports to the grid through a program called net metering.
This means that the solar energy your system produces directly translates to savings on your monthly electric bill.
Solar energy becomes more valuable over time as electric rates increase, meaning your savings will grow. Going solar reduces the cost per kilowatt hour of electricity to pennies, and the savings from avoiding utility rate increases can exceed $50,000 over time.
Solar Panel Cost FAQs
Are solar panels worth it in NYC?
Solar panels for homes in NYC are absolutely worth it! With Con Edison’s electricity rates rising every year – and government incentives covering 75% or more of your installation costs – solar is one of the best investments you can make for your home and financial security.
How much money will I save with solar panels?
NYC homeowners can save upwards of $35,000 over the lifetime of their solar panels. Because of net metering in NYC, the value of your solar power grows as Con Edison rates increase year after year.
Do I qualify for New York tax credits with solar panels?
Residential solar projects in New York City qualify for the 30% Federal Tax Credit, $5,000 New York State Tax Credit, 30% NYC Property Tax Abatement, and a $0.20 per Watt rebate from NYS. Some historic neighborhoods in NYC also qualify for an additional 20% Tax Credit from NYS.
Should I buy or lease my solar panels?
We only offer ownership, as we believe it’s most cost-effective for homeowners in the long run. While it may be a large initial investment, the return you’ll see from owning your system rather than leasing it will be well worth it. Plus, owning your system allows you to claim government tax credits, while solar leases and PPAs do not. And if you ever end up selling your home, dealing with a solar lease can be complex and expensive.
What is the average payback period for solar installations in New York City?
The average NYC home can see a solar payback period of 5 to 8 years. Your payback time is influenced by many factors, including system cost, electric rates, and financing.
Are there any ongoing maintenance costs associated with solar panels?
Solar panel maintenance is surprisingly easy. Because there are no moving parts to a solar system, there is not much to actively maintain. But in the event that there’s any damage to your system or connection issues, it’ll be covered by our warranty package.
Does the cost of solar include installation and equipment?
The contract cost of your solar project is all-inclusive, covering the installation, equipment, permitting, warranty package, and our 24/7 real-time monitoring service after the installation.
Are you ready to start saving?
Solar energy isn’t just good for the planet – it’s good for your wallet too.
Speak with a solar specialist to learn more about your options and start your journey to solar savings.