Solar Panel Cost Guide in Champion, NY (Mar 2023)
- Champion Solar Installation Cost: $9,520
- 25-Year Savings: $6,687
- Payback Period: 14.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Champion
Find out how much it might cost to switch to solar power in Champion.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Champion, the average cost of a solar system is 2.95 per watt. Using this figure, a typical 4.6-kW system would cost about $9,520 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Champion homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $13,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar installer in your area for a personalized estimate.
Solar savings over time in Champion
| Year | Return on Investment |
|---|---|
| 1 years | $-8,871 |
| 3 years | $-7,575 |
| 5 years | $-6,278 |
| 7 years | $-4,982 |
| 9 years | $-3,685 |
| 11 years | $-2,389 |
| 13 years | $-1,092 |
| 15 years | $205 |
| 17 years | $1,501 |
| 19 years | $2,798 |
| 21 years | $4,094 |
| 23 years | $5,391 |
| 25 years | $6,687 |
Top Solar Installers in Champion
When making the switch to solar, many homeowners choose to hire a solar installation company since installing solar panels yourself can be a challenging project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Champion:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Champion
Factors that Affect Solar Panel Costs in Champion
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Champion: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,950. The brand of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Champion, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installation company you choose will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Champion are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.07 | $12,886 | $8,215 | 15.3 years |
| 8 kW | $3.01 | $16,850 | $11,283 | 15.0 years |
| 10 kW | $2.95 | $20,650 | $14,517 | 14.7 years |
| 12 kW | $2.89 | $24,284 | $17,916 | 14.4 years |
| 14 kW | $2.83 | $27,754 | $21,481 | 14.1 years |
| 16 kW | $2.77 | $31,058 | $25,210 | 13.8 years |
| 18 kW | $2.71 | $34,196 | $29,105 | 13.5 years |
| 20 kW | $2.66 | $37,170 | $33,165 | 13.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Champion, NY Solar Cost FAQs
What is the average cost of installing solar panels in Champion?
The average cost of solar panels in Champion is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $703.35 per year.
How long do solar panels last in Champion?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.