How Much Does It Cost To Install Solar Panels In Ny

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

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

Ny sun mw block incentive. The tax credit is capped at 5 000. The average cost of installing residential solar panels in new york new york in 2020 is 2 78 per watt. As of august 2020 the average solar panel cost in new york city ny is 3 39 w.

The average system size in the us is 6 kilowatts which means the average price of a solar system. Solar panel cost data new york 2020. New york solar tax credit. 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.

They are custom based on the home roof type shading and utility. In herkimer county for example the average cost of installing a 5kw system in 2020 is 14 150. This is 2 86 per watt. This combined with the federal tax credit provide subsantial savings on the cost of a solar installation.

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. Installation cost guide no two solar power systems are the same. 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. This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt.

After the tax credit and rebates the same system would run 10 471 in herkimer county and 13 505 in new york county. 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. 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. That investment would go up to 18 250 for new york county residents.

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. Installation for the average 5kw system ranges from 11 100 22 400.