Solar Panel Installation Cost New York

Cost varies based on regional incentives system size aesthetic preferences energy needs and local codes among other factors.

Solar panel installation cost new york. The tax credit is capped at 5 000. However solarreviews handles more than 1 000 quote requests per day and the current average price we see on our marketplace is 2 64 per watt. National data september 2020. As of 2019 the average price for solar panels in new york was 3 19 per watt thus since the typical system size in the u s.

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. Solar panel system price will vary depending on the building s energy needs location and system size. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. New york state already a leader in solar energy.

This combined with the federal tax credit provide subsantial savings on the cost of a solar installation. How much do solar panels cost in new york. Average solar panel cost. In new york solar projects typically run between 3 00 and 4 50 per watt depending on preference and energy needs.

As of september 2020 the average solar panel cost in new york is 2 91 w 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 accounting for the 26 federal investment tax credit itc and other state and local solar incentives the. Is 6 kilowatts 6 000 watts the average cost of a solar panel system in ny state is 19 140 before any rebates or incentives. 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. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

New york solar tax credit.