Are Solar Panels Worth It in New York? Data-Backed Analysis
✓
Yes
Solar panels are a strong investment in New York based on available data.
The Numbers
Average System Cost
$214,560
48.0 kW system
After Federal ITC
$150,192
30% tax credit applied
Total Installations
161,816
94% residential
Factors in Favor
- ✓161,816 installations demonstrate strong market adoption
- ✓Federal 30% Investment Tax Credit available to all homeowners
- ✓94% residential - strong homeowner adoption
Things to Consider
- !Above-average installation cost ($4.47/W vs national $4.18/W)
New York vs National Average
| Metric | New York | National |
|---|---|---|
| Cost per Watt | $4.47 | $4.18 |
| Total Installations | 161,816 | 3,426,466 |
| Total Capacity | 7,765 MW | - |
Frequently Asked Questions
The average solar system in New York costs approximately $214,560 (avg 48.0 kW system at $4.47/W). After the 30% federal ITC, your net cost would be around $150,192.
All New York homeowners are eligible for the federal 30% Investment Tax Credit (ITC), which reduces the cost by approximately $64,368. Additional state and local incentives may further reduce your costs. Visit our New York incentives page for a complete breakdown.
New York has 161,816 solar installations, showing strong market adoption. Combined with competitive costs and available incentives, solar is a strong investment in New York.
Source: LBNL Tracking the Sun, U.S. Department of Energy, EIA. Costs and savings are estimates based on average residential installations and may vary.