Solar Panel Cost for Long Island + NYC

Cost + Savings

How much do solar panels cost in New York + Long Island?

Solar panels are an increasingly popular choice for homeowners in New York due to their cost savings over time. The cost of solar panels varies based on system size, equipment type, and installation factors. In New York, the average cost of a solar panel system ranges from around $20,000 to $40,000 before tax credits. The cost-per-watt in New York averages around $3.20, and is a valuable metric for comparing system sizes and types.

What determines solar panel cost?

Our in-house design team will consider several key factors in order to design and size your custom solar panel system, which ultimately determines the final cost for solar panels and installation.

Solar incentives in New York further reduce the cost of going solar. These include the federal solar tax credit, which allows for a 30% deduction of the total system cost from your taxes, as well as a $5,000 New York State Solar Energy System Equipment Credit.

When considering solar panels, it’s important to factor in the long-term savings alongside the initial investment. In New York, a typical 10 kW solar system can save homeowners more than $100,000 in electricity costs over its lifetime. When paired with $0 down financing options, the decreasing cost of solar equipment plus rising electricity rates, make solar energy an increasingly cost-effective choice.

Cost Factor

Average Electricity Usage

The amount of electricity that you use on a daily basis affects how much power your home solar system will need to produce. The average home on Long Island or in NYC spends $250 a month on electricity. If your home uses more than $500 worth of electricity every month, we’ll design a larger system to match.

Cost Factor

Roof Space + Orientation

A larger roof will provide more space for solar panels, and a south-facing roof will produce more electricity than if it were facing east or west, and will require fewer panels to produce the same amount of energy.

Cost Factor

Shade

Shade from nearby trees and buildings can affect the amount of sunlight hitting your roof, affecting the amount of energy your solar panels are able to produce. If your roof is heavily shaded you may require additional solar panels to produce enough energy.

Cost Factor

Panel Preference

Most solar panels range from 400-440 watts per panel. We offer 350, 400, 415, 435, 435, and 440 watt high-efficiency solar panels. A higher wattage panel will produce more energy.

Ownership + Financing Options

When determining how to finance your solar panel system, you should consider income, credit score, and lifetime value of the system. We offer a variety of options to ensure that we provide the best solution for you.

Finance

By financing your system, you can switch to solar for $0 down. Partner with one of our select financing providers for a low-interest loan with term options between 5 and 15 years.

Purchase

Own your solar panel system and appreciate significant lifetime savings with a return on investment between 4 and 7 years.

Lease

A 25-year lease is a budget-friendly option for those looking to benefit from solar energy and maximize their upfront savings.

	Finance	Purchase	Lease
Price Range	$10,000 – $25,000 final cost	$10,000 – $25,000 final cost	N/A
Down Payment	$0 down	In-Full	$0 down
Instant Electric Bill Savings	20% – 30%	100%	20% – 30%
Ownership	You	You	SunPower, with option to buy
Payment Terms	Between 5 and 25 years	None	25 years
Monthly Payments	Fixed low payments	None	Predictable low payments
Tax Credits	Up to $5,000 NYS Tax Credit 30% Federal Tax Credit	Up to $5,000 NYS Tax Credit 30% Federal Tax Credit	Up to $5,000 NYS tax credit
Service and Maintenance	Yes	Yes	Yes
Energy Monitoring	Yes	Yes	Yes
25-Year Warranty	Yes	Yes	Yes

Solar Panel Cost FAQs

How much do solar panels cost in NY?

In New York, the cost of solar projects is typically between $20,000 and $40,000 depending on preference and energy needs. Cost varies based on regional incentives, system size, aesthetic preferences, energy needs, and local codes, among other factors.

How much money will I save with solar panels?

A solar system will pay for itself in just 4-7 years if the homeowner purchases them with cash. A homeowner who finances or leases their system can expect immediate savings and upwards of $100,000 over the life of their system.

Do I qualify for New York tax credits with solar panels?

The federal government, NYS, and NYC all have unique incentives available to go solar. For most of our clients, the incentives can cover up to 50% or more of the total system cost.

Should I buy or lease my solar panels?

We’re here to inform you of all your options. We’ll explain the ins and outs of each payment method and provide guidance as you decide what’s best for you!

Is solar worth it in NY?

The short answer? Yes. In fact, New York ranks in the top 10 states for installed solar capacity. Based on the average cost of NY utilities, a typical solar power system will pay for itself in approximately seven years. New York residents who install rooftop solar panels also qualify for the federal Renewable Energy tax credit, equal to 30%, as well as the New York State solar tax credit, which is 25% of the cost of your system up to $5,000.