Solar Panel Cost In NYC

How Much Do Solar Panels Cost In NYC?

The cost of solar panel installation typically starts at around $20,000. However, for us New Yorkers, we have generous amounts of New York State tax credits for solar power. Not only that but with incentives and rebates you can reduce upfront costs massively while increasing your savings for the long term.  

We will help you navigate through New York solar panel incentives, here are some incentives and rebates to take note of: 

• Inflation Reduction Act (IRA): Qualified homeowners with home solar could be eligible for a tax credit of up to 30% depending on the cost of the solar system.
• NY State Solar Energy System Equipment Tax Credit: The 25% state solar tax credit is available for home solar systems your purchased in New York. (Max. $5,000 state tax reduction)
• NY-Sun Megawatt (MW) Block Program: You can benefit up to $1,000 for every kilowatt (kW) of solar power installed.

How Panel Size Determines Cost

The size of your panels in NYC plays a critical role in determining the cost of solar panels. Larger systems tend to generate higher amounts of power and increase your consumption capacity while also requiring a bigger setup which influences costs. The right system size solely depends on your needs, roof size, and property type. Solar panel cost ranges for homes, businesses, and condos, which have various consumption requirements.

We cater to all needs and consumption types which impact prices:

Home Solar Panel Consumption:

These systems range from 5kW to 10kW in size, depending on the amount of household consumption that will be replaced.

Consumption For Condo Solar Panels:

Sizes are generally required to be shared or multi-unit, complicating installation a bit. Community solar programs and tax credits help bring down costs.

Business Solar Panel Consumption:

These are larger commercial systems of 50kW+, or more, requiring greater investment but offer much greater long-term savings and tax benefits for businesses.

How Solar Panel Models Impacts Cost

Solar panel models plays a big role in cost, efficiency, and durability, especially for the weather conditions these panels can face in the New York surrounding areas. Higher-efficiency solar panels for NYC have a big advantage as they generate higher electricity from the sun. In turn also being very durable and sturdy, while other panels offset initial payments but degrade faster in the longer run. 

What solar panel type should you choose? These are some factors: 

• Efficiency & Performance: High-efficiency panels that we offer convert sunlight to electricity at 19-22%, while other panels reach a maximum of 15-17%, hence needing more panels to produce the same power.
• Durability & Degradation: High-quality panels only lose around 0.3-0.5% of their efficiency every year. Even in 25 years, they are still able operate for more than 85-90% of their capacity.

How Roof Structure Affects Solar Panel Cost

Roof structure and condition of the roof can directly impact your installation costs. The construction isn’t always the best way for NYC residents with strict permitting and regulatory hurdles. The higher the complexity like older roofs, obstructions, or trees laying over the roof might limit the panel placement. 

Meanwhile, installing solar panels on flat roofs or shingled roofs allows for an easier installation process and reduces costs. While structural challenges may be there but no solar panel permits challenges here, our crew supports every process with you! We handle all the paperwork and approvals, so your solar project are completed on time!