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How Much Do Solar Panels Cost in New York?

solar panel installation in New York City

In New York State, solar panels cost approximately $3.00 per watt of power produced. This price has drastically decreased over the past few decades. In the early 2000s, solar panels cost New Yorkers almost $15 per watt of power produced!

While New York electricity costs have more than doubled since 1990, the price of solar energy systems has done the opposite. And with higher energy costs and lower costs for solar installations, it makes more sense than ever to utilize this fantastic form of clean energy.

The Cost of Solar Panels for New York Homeowners

When considering the cost of solar panels in New York, you should think of it more in terms of the energy produced as opposed to the price or size of the individual panels.

Depending on the size of your home and where you live in New York, solar energy systems are typically 5 kW and 7 kW.

The cost of solar panels for New York residents fluctuates due to a variety of different factors, including but not limited to:

  • Solar system size
  • Location of the home
  • Roof angle and orientation
  • Local permits and inspections
  • Local cost incentives
  • Type of solar panels
  • Financing options
home with solar panels

Because of this wide range of factors, New York residential solar installation costs may vary from around $10,000 to just over $30,000. Keep in mind that these prices do not account for tax credits and incentives.

Reducing the Cost of Your Solar Panel Installation in New York

As we mentioned in our previous post, Federal and State Solar Energy Tax Credits, there are various ways to reduce the costs of your solar panel installation in New York. Solar photovoltaic (PV) energy systems installed between now and 2032 qualify for a 30% federal tax credit. This tax credit is applied to the cost of your solar energy system.

New York homeowners are also eligible for a 25% personal tax credit, with a maximum savings of $5,000. Additionally, all solar installations are fully exempt from sales tax.

Related Posts: Solar Power Incentives for New York Homeowners

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community solar farm

New York Community Solar Programs and Costs

Why Choose Community Solar in New York

Community solar provides New Yorker’s with the opportunity to: Go solar without installing solar panels on your roof or property. Everyone who pays their own electric bill, including renters and co-op/condo owners, can participate in a community solar project. You can even subscribe to community solar if you live in an apartment or your home is in a shady area that isn’t suited to solar panels. Little to no upfront costs. Since you won’t need to install solar panels, the upfront costs of going solar with a community solar provider are minimal. Save money every month on your electric bill. You’ll see credits every month on the electric bill you receive from your utility. The amount credited each month will depend on the amount of solar energy generated by your selected project. Lower your carbon footprint and support your local economy. When you choose community solar, you’re not only helping to reduce greenhouse gas emissions, you’re also supporting clean, locally generated electricity. Minimal commitment. Community solar subscriptions also have shorter term options and many offer pay-as-you-go payment terms.

How Does Community Solar Work in New York?

Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Solar Project Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, you earn credits on your electric bill every month from your portion of the solar that’s generated by the project, accessing the benefits of solar without installing panels on your home.
Related Posts: The Benefits of Community Solar Power in New York State Commercial Solar and Community Solar for Business FAQs

The Cost of Solar Panel Installations for New York Businesses

In New York, commercial solar installations are a great way to save money and potentially share surplus energy with the surrounding community. Harvest Power has installed solar energy systems for companies throughout New York State, providing local business owners and residents with sustainable energy solutions.

Commercial solar installations are almost always larger than residential installations, leading to higher upfront costs. However, the cost per watt is generally lower than residential solar energy systems for various reasons.

New York Commercial Solar Installations and Cost Efficiency

Commercial solar installations may incorporate monitoring systems, several inverters, and other innovations that maximize energy efficiency. This means that even though the initial costs are higher than residential installations, the long-term savings significantly outweigh those costs. Additionally, as commercial spaces offer more expansive areas to place the solar panels, panel placement is more manageable to optimize, further increasing the system’s cost-effectiveness.

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solar panel installation in New York City

Save on New York Solar Panel Costs With Harvest Power

At Harvest Power, we pride ourselves on providing New York residents with the latest solar energy technologies at affordable price points. As a family-owned Long Island business, we are committed to leading New York toward a more sustainable future. Contact us today to learn more about how we can help save money while optimizing energy efficiency.