How Much Does It Cost To Install Solar Panels In Ny

Solar panel cost in new york the average cost for an installed residential solar system in new york is currently 12 716 after claiming the 26 federal solar tax credit.

How much does it cost to install solar panels in ny.

Solar panel cost data new york 2020. In herkimer county for example the average cost of installing a 5kw system in 2020 is 14 150. The average cost of a solar installation in new york is 15 137 making new york one of the best states for homeowners installing solar. This is 2 86 per watt.

Given a solar panel system size of 5 kilowatts kw an average solar installation in new york ranges in cost from 12 368 to 16 732 with the average gross price for solar in new york coming in at 14 550. After the tax credit and rebates the same system would run 10 471 in herkimer county and 13 505 in new york county. New york solar tax credit. If you live in new york city you can take advantage of the new york state tax credit which is equal to 25 of the costs of you solar panel installation.

This combined with the federal tax credit provide subsantial savings on the cost of a solar installation. This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Ny sun mw block incentive.

Installation cost guide no two solar power systems are the same. As of september 2020 the average solar panel cost in new york is 2 91 w. The average system size in the us is 6 kilowatts which means the average price of a solar system. The tax credit is capped at 5 000.

Installation for the average 5kw system ranges from 11 100 22 400. Given a solar panel system size of 5 kilowatts kw an average solar installation in new york city ny ranges in cost from 14 408 to 19 492 with the average gross price for solar in new york city ny coming in at 16 950. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. That investment would go up to 18 250 for new york county residents.

After accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net price you ll pay for solar can fall by thousands of dollars. As of august 2020 the average solar panel cost in new york city ny is 3 39 w.