Is $56,000 to install solar panels a fair price?
Project Details
I received a quote to install solar panels in Western NY. My estimated yearly energy usage is around 16500 kWh, and my home has 3 of 4 roof sides with direct sunlight year-round. Everything in my home is electric, except for the boiler (baseboard heat) and hot water tank. On average, I'm currently paying $265/month for electricity, with my current electric bill being around $250/month. The monthly bill for the panels after incentives (NYSERDA SUN, Residential Renewable Energy Credit, and Residential Solar Energy System Credit) would be around $262/month. I've reached out to another contractor and hope to get another quote soon, ideally before the end of the year. I also did some research and found that NYS switched from 1:1 net metering to VDER after 2017, which is a multi-factor monetary credit applied to future bills. It's hard to tell if VDER is better or worse than 1:1, but I guess it will fluctuate similarly to interest rates.
Quote Details
This quote is for the installation of a solar panel system. The total cost is $56,000 before any New York State and federal incentives. - Panels: 36 SEG-430-BTD-BG - Inverters: N Enphase IQ8MC-72-M-US (240V) - Estimated Yearly Energy Produced: 16099 kWh - Post-incentive monthly cost: Approximately $263/month
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More Details
Category
Solar
Price
$56,000
Quote Date
August 20, 2025
Location
New York
Battery Storage?
No
# of Panels
36
System Size (kW)
15.48
Warranty (yrs)
0
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