The cost of solar panels in New York

Updated Oct 26, 2023

  • You'll pay an average of $15,662 to install a 5 kilowatt solar panel system in New York, before incentives.

  • The federal investment tax credit (ITC) lowers that price by 30% of all your solar equipment and installation costs.

  • With EnergySage's competitive marketplace, you can expect to see prices up to 20% lower than if you work with a single company.

Don't overpay for solar

Compare multiple offers and save up to 20%

Please enter a five-digit zip code.

Written by: Emily Walker

As of November 2023, the average solar panel system costs $3.13/W including installation in New York. For a 5 kW installation, this comes out to about $15,662 before incentives, though prices range from $13,313 to $18,011. After the federal tax credit, the average price drops by 30%.

Average price of a 5 kW solar panel installation in New York

Good Price
$13,313 or less
Market Average
$15,662
High Price
$18,011 or more

You'll probably pay even less than what we show here. It doesn't include the federal ITC or New York state incentives, which will lower this price by at least a few thousand dollars.

Your solar panel cost depends on your system's size

It may seem obvious but larger solar panel systems cost more money. We use cost per watt ($/W) so you can easily compare quotes, controlling for slight variations in system size.

While a 5 kW system will only cost you $15,662 in New York, doubling the system size effectively doubles the price, so you'll pay about twice that for a 10 kW system. The higher the price tag, though, the more you'll get back as a credit towards your federal tax bill.

Average solar cost by system size in New York

System Size
System Cost
System Cost (after ITC)
3 kW$9,397$6,578
4 kW$12,530$8,771
5 kW$15,662$10,964
6 kW$18,795$13,156
7 kW$21,927$15,349
8 kW$25,060$17,542
9 kW$28,192$19,734
10 kW$31,324$21,927

Are solar panels worth it in New York?

Solar panels are worth it in most areas, including New York. Certain factors, including the cost of electricity, incentives, climate, and the angle at which the sun hits your roof impact how quickly you break even on your investment relative to other areas around the U.S. 

If you pay for your system with cash, you'll save about $37,755 over 20 years on electricity costs with a 5 kW system in New York. We generate this estimate based on real solar quote data from our Marketplace. It considers your system's cost, the federal tax credit, and inflation rates.

If you don't have access to net metering, these estimates don't account for utility net billing rates.

Payback Period
7.80 Years
20-Year Savings
$37,755
Cost-per-Watt
$3.13

If you can't shell out $15,662 in cash to pay for solar, don't sweat it. You can choose to finance your system with a loan instead. Some companies even offer $0-down loans so you can start saving on day one if your loan payments are less than your current electric bills. Just keep in mind that your long-term savings will be lower with a loan due to interest rates.

Find out what solar panels cost in your area in 2023
Please enter a five-digit zip code.
  • 100% free to use, 100% online
  • Access the lowest prices from installers near you
  • Unbiased Energy Advisors ready to help

The numbers we're showing are averages. The price you'll pay for solar depends on many factors unique to you and your home:

If you're looking for solar companies in NY, here are some popular suggestions:

Solar is a major purchase, but you can get the price tag to come down a bit by being an educated shopper. Taking advantage of incentives and rebates and shopping around for quotes can bring down your cost of solar in New York.

Take advantage of federal and local solar incentives

As long as your federal tax bill is high enough, you can take advantage of the federal tax credit in New York. This incentive allows you to apply 30% of your solar installation and equipment costs toward your federal tax bill. If the amount exceeds your tax bill, you can roll over the remaining credit to the following year. Many states also offer great local incentives and rebates.

Get quotes from multiple installers

Comparing multiple solar quotes can save you money through competition and transparency. Each additional quote you receive for solar will help you find the right solar panel system at the right price.

This is where EnergySage can help. With funding from the Department of Energy’s SunShot Prize, EnergySage opened the country’s first (and now the largest) marketplace for home solar panel installations. We gather custom solar quotes from local installers on your behalf and put them in an easy-to-compare format. When you compare quotes for solar panels on the EnergySage Marketplace, you can expect to see prices up to 20% lower than if you work with a single solar company.

As of November 2023, the average solar panel cost in New York is $3.13/W. If you install a 5 kW system it will cost you between $13,313 to $18,011, with an average cost of $15,662.

Why shop with EnergySage?

Save time & money

Request free quotes from vetted installers in minutes

Unbiased support

Our expert Energy Advisors will help you make the right decision

Trusted, local installers

We pre-screen and monitor all of our partners

Consumer reviews of EnergySage

Back to the top
Did you find this page helpful?
Discover whole-home electrification
Home solar
House with rooftop solar panels

Create your own clean energy with solar panels.

Community solar
Solar farm

Enjoy the benefits of solar without rooftop panels.

Heating & cooling
Heat pump

Explore heat pumps, the latest in clean heating & cooling technology.