Solar Panels in New York: Pricing, Savings, and Financial Benefits
As of 2023, New York solar panels cost an average of $3.15 per watt, this figure is higher than the national average of $2.93 per watt. The average solar panel cost in New York is about $19,200. However, after applying for the federal tax credit, the average cost of solar panels in New York will fall to about $13,500.
Solar installation cost in New York for 5 kW and 6 kW panels ranges from $15,800 to $19,000. These figures reduce to $11,700 and $14,000 after applying the investment tax credit (ITC).
Solar panel installation costs in New York depend on the wattage of the panels. Higher-wattage solar panels cost more to install.
New York State offers solar tax credits and other state programs and incentives. As of 2021, New Yorkers pay an average of 16.11 cents per kWh of grid electricity, this figure is 5.01 cents higher than the national average of 11.10 cents per kWh.
Average Solar Panel Cost in New York
|Size||Solar Panel Installation Cost||System Installation Cost After Solar Credit||Home Size|
|3 kW||$9,300 - $9,600||$6,510 - $6,720||< 1,00 sq ft|
|5 kW||$15,500 -$16,000||$10,850 - $11,200||<1,000 sq ft|
|8 kW||$25,000 - $25,400||$17,500 - $17,780||1,100 sq ft|
|9 kW||$28,200 - $28,500||$19,740 - $19,950||1,300 sq. ft.|
|11 kW||$34,400 - $34,900||$24,080 - $24,430||1,700 sq ft|
|13 kW||$40,700 - $41,200||$28,490 - $28,840||2,100 sq ft|
|14 kW||$44,000 - $44,200||$30,800 - $30,940||2,300 sq ft|
|15 kW||$47,100 - $47,400||$32,970 - $33,180||> 2,400 sq ft|
The number of solar panels for a 3-bedroom house in New York depends on factors that include but are not limited to:
A 3-bedroom house in New York typically covers 1,200 to 1,400 square-foot of space and runs on an average of 10,600 kWh of electricity annually.
Producing this amount of energy will require 10 to 15 solar panels of 3.5 kWp (kilowatt peak). The kWp of solar panels is the peak performance of the system on sunny days.
A 4-bedroom house in New York measures 2,500 square feet. The number of solar panels you need for a 4-bedroom house depends on your yearly energy consumption.
Typically, a 4-bedroom home consumes about 11,000 kWh of electricity annually. If you live in New York and with a production ratio of 1.2, you need about 23 400-watt solar panels (11,000 / (1.2 x 400)).
Solar panels do not all produce the same energy. Under similar weather conditions, the amount of energy solar panels produce depends on their wattage ratings and production ratios.
Solar panels with higher wattages produce more electricity than the lower-wattage ones. For instance, a 400-watt solar panel produces more energy than a 200-watt solar panel, which in turn produces more than a 100-watt panel.
For solar panels with similar wattages, those with higher production ratios will produce more energy. For instance, two different brands of solar panels have production ratios of 1.4 and 1.6. The one with a production ratio of 1.6 will produce more energy.
Buying or leasing offers unique benefits. The best option is one that fits your budget and meets your needs.
A cash purchase confers ownership of the solar panel system to the buyer, while a lease is a third-party ownership (TPO) structure. With a lease, the solar system is owned and operated by the installation company, and the property owner pays for power consumption at a predetermined price for 25 years.
The electricity rate for lease purchase is usually 10% to 30% lower than the average cost of electricity.
Pros of Cash Purchase:
Cons of Cash Purchase
Pros of Lease Purchase
Cons of Lease Purchase
The location of New York exposes it to much rainfall and cloudy weather conditions. The type of solar panel to use in New York may be those that give good performance under harsh weather conditions experienced in the state. However, other factors may influence your choice of solar panels. These include but are not limited to:
To make the best choice, you evaluate the pros and cons of the different types of solar panels available in the market to determine which meets your needs based on your budget.
There are three types of commercially available solar panels in the New York market, these are:
The table below outlines the advantages and disadvantages to help you choose the type of solar that best meets your needs.
|Type of Solar Panel||Pros||Cons|
Yes, you can run a house solely on solar panels in New York. To power a home exclusively on solar panels, combine them with battery storage to store energy. Before you decide to run your house entirely on solar panels, you need to consider the following:
The size and cost of solar panels to run your home in New York may be high, but you can leverage federal, state, and local tax credits, rebates, and incentives to reduce costs.
The size of the solar system you need to go off-grid depends on your energy consumption. The average New York home consumes 12,500 kWh (34.25 kWh per day) of electricity as of 2023 and occupies 2,500 square-foot space. To calculate the size of the solar system you need to:
Calculate your yearly energy consumption
Divide the daily energy consumption by the average peak sun hour per day (3.83 for New York) to get the solar power required.
Divide the required solar power by the panels' wattage and Use the formula:
Number of solar panels = annual energy consumption / (peak-sun-hour per day x solar panel wattage)
For instance, if you are using 400-watt solar panels, then:
Required solar power = 34,250 / (3.83) = 8,942.56
Number of solar panels = 8,942.56 / 400 = 22 panels
However, due to solar panel losses (about 23%), we make adjustments for this by multiplying the required solar power by 1.4 and dividing it by the panel wattage. Hence, you may need 31 solar panels (22 x 1.4)
With 200-watt solar panels, you will require 63 panels.
In addition to the number of solar panels that will meet your needs, you must also consider the space available for solar system installation. The table below lists some system sizes using 200-watt panels, the estimated number of solar panels in each, the required space for their installation, and the cost per each system.
|System Size||Number of Panels||Estimated Space||Estimated Cost.|
|5 kW||26||289 sq. ft||$1,560|
|10 kW||56||578 sq. ft||$6,240|
|20 kW||105||1,168 sq. ft||$25,200|
|50 kW||255||2,838 sq. ft||$153,000|
|100 kW||510||5,676 sq. ft||$612,000|
|200 kW||1020||11,352 sq. ft||$2,448,000|
Yes, Tesla solar panels are available in New York. Tesla solar panels in New York rank among the best brands. Tesla solar roofs in New York are among the top rooftop solar panels and can be installed with Tesla Powerwall batteries to deploy electricity whenever needed. The Powerwall batteries compare favorably against other brands both in storage and performance. In New York, Tesla solar roof solar panels are available through authorized contractors.
The number of solar panels you need to power your home in New York boils down to your energy needs. In addition, factors like solar panels' wattage and production ratio also play major roles in determining how many panels you will need. To calculate the number of solar panels you need, divide the system size (electricity consumption) by the product of the production ratio and the panel wattage.
The number of panels = electricity consumption / (product ratio x power output of the solar panels)
Annual electricity consumption - This is the amount of electricity that sufficiently meets your yearly power needs. The average American homes consume about 890 kWh of electricity monthly, or 10,680 kWh annually. For more accurate numbers on your power consumption, contact your utility provider for information.
Production ratio - This is the actual energy output of the solar panel system (in kWh) over time compared to the estimated output (in W) over the same period. For instance, a 5 kW panel that produces 7 kWh of electricity yearly has a production ratio of 1.4 (7 / 5). Solar panel systems reduction ratios are never 1;1. In the U.S., production ratios are between 1.3 and 1.6.
Solar panel wattage - This is the power rating or energy output (in watts) of the solar panel under ideal conditions. Typically, New York solar panels' wattages range from 300 watts to above 400 watts. For clarity, we will use 400 watts as our solar panel wattage for subsequent calculations.
How to calculate the number of solar panels you need
Using the information above ( i.e. 10,680 kWh, 1.3 (or 1.6), and 400 watts as the yearly energy consumption, production ratio, and panel wattage), the following calculation estimates the number of solar panels you need to run an average home.
Number of solar panels = 10,680 kWh / ((1.6 or 1.3) x 400) = 17 or 21 panels.
However, New York experiences cloudy weather conditions due to cloudy weather conditions, and this averages the production ratio to about 1.2. Using 1.2 as the production ratio, the number of panels you will require to power a 3-bedroom house using 400-watt panels is:
Number of solar panels = 10,680 kW / (1.2 X 400) = 22 panels
Alternatively, you can calculate the number of solar panels you need by dividing your annual electricity consumption by the product of the sunlight hours in your location and the panel wattage. For instance, if you live in Syracuse (New York) with 2120 hours of annual sunlight, using 400-watt solar panels, the number of panels is calculated as follows.
The number of solar panels = 10,680 / (2120 x 400) = 13 panels
Note: if you use panels of high wattage and production ratio, the number of solar panels reduces and vice versa.