New York Solar Panel Savings Calculator
Calculate how much you can save with solar panels in New York. Based on 3.8 peak sun hours/day and 22.7¢/kWh average electricity rate.
3.8
Peak Sun Hours/Day
22.7¢
Avg Rate (¢/kWh)
7 yr
Avg Payback Period
3.2%
Solar Penetration
Calculate Your New York Solar Savings
Average home: 6-10 kW
Your average monthly bill
South-facing is optimal
Annual Production
kWh/year
Annual Savings
per year
25-Year Savings
total estimated
Payback Period
break-even time
Monthly Savings
$126
System Cost (after ITC)
$16,380
CO2 Offset
2.8 tons/yr
Cumulative Savings vs System Cost
New York Solar Panel Savings Overview
New York receives an average of 3.8 peak sun hours per day, which is below the national average but still viable for solar installations. With electricity rates averaging 22.7¢ per kWh — well above the national average of about 16¢/kWh — solar panels offer significant savings potential. The typical New York homeowner with a 6kW system can expect to save approximately $2,350 per year.
Solar Energy Production in New York
A standard 6kW residential solar panel system in New York produces approximately 6,658 kWh per year. This accounts for a system efficiency factor of 80%, which includes panel degradation, inverter losses, and temperature effects. While 3.8 peak sun hours is modest compared to sunbelt states, modern high-efficiency panels can still produce meaningful energy savings in New York.
New York Electricity Rates and Solar Context
The average residential electricity rate in New York is 22.7¢ per kWh according to EIA data. This rate is near the national average. Combined with New York's solar resources, homeowners can expect a payback period of about 7 years. With utility rates increasing annually, your solar savings grow each year.
New York Solar Incentive Programs
NY-Sun initiative ($0.20-0.40/W). State tax credit (25%, up to $5,000). Sales tax exemption. Property tax exemption. Federal 30% ITC. All New York residents are eligible for the federal 30% Investment Tax Credit (ITC), which reduces the cost of a solar system by 30% of the total installed price. New York also offers full retail net metering, allowing homeowners to earn credits for excess solar energy sent back to the grid.
Net Metering in New York
New York has full retail net metering, which is a significant financial benefit for solar homeowners. Under full retail net metering, you receive credit at the full retail electricity rate for every kilowatt-hour of excess solar energy you export to the grid. This is the most favorable policy for solar homeowners.
Best Cities for Solar in New York
The best cities for solar panels in New York include New York City, Buffalo, Rochester, Yonkers, Syracuse. Solar production can vary by location within the state due to differences in cloud cover, local shading, and microclimates. Southern-facing roofs with minimal shading produce the most energy. Homeowners in New York City and Buffalo can typically expect production close to the state average of 3.8 peak sun hours per day.
How New York Compares to Neighboring States
Compared to neighboring states, New York (22.7¢/kWh, 3.8 sun hours) has comparable sun exposure and has lower electricity rates. See how solar savings compare in New Jersey, Pennsylvania, and Connecticut.
Frequently Asked Questions
How much do solar panels cost in New York?
The average cost of a 6kW solar panel system in New York is approximately $23,400 before incentives. After the 30% federal Investment Tax Credit (ITC), the net cost drops to about $16,380. NY-Sun initiative ($0.20-0.40/W). State tax credit (25%, up to $5,000). Sales tax exemption. Property tax exemption. Federal 30% ITC.
How much can I save with solar panels in New York?
The average New York homeowner saves approximately $2,350 per year with a 6kW solar system. Over 25 years, total savings can exceed $51,713, factoring in a 2.5% annual increase in electricity rates.
Does New York have net metering?
Yes, New York offers full retail net metering, which allows you to sell excess solar energy back to the grid. This significantly improves the financial returns of going solar.
What is the solar payback period in New York?
The average payback period for solar panels in New York is approximately 7 years. After that, your solar panels generate essentially free electricity for the remaining 15-20 years of their warranty life.