Solar Panel Cost Guide in Chili, NY (2023 Update)
- Chili Solar Installation Cost: $8,610
- 25-Year Savings: $8,272
- Payback Period: 12.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Chili
Find out what the average cost of solar panel installation is in Chili.
The average cost of a solar system in Chili is 2.95 per watt. To account for the typical energy usage of the average home in Chili, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,611, or $12,314 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary based on multiple factors, such as what size system you need, your energy usage and what company you go with. Even with the large upfront cost, the average Chili homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the positives of solar.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Chili
| Year | Return on Investment |
|---|---|
| 1 years | $-7,702 |
| 3 years | $-5,887 |
| 5 years | $-4,072 |
| 7 years | $-2,256 |
| 9 years | $-441 |
| 11 years | $1,374 |
| 13 years | $3,190 |
| 15 years | $5,005 |
| 17 years | $6,820 |
| 19 years | $8,635 |
| 21 years | $10,451 |
| 23 years | $12,266 |
| 25 years | $14,081 |
Top Solar Installers in Chili
Although it's possible to install solar panels by yourself, it takes extra time and expertise. Because of that, most homeowners choose to go with a solar panel installer. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be best for your family.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Chili
Factors that Affect Solar Panel Costs in Chili
There are a number of criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,950 per kilowatt in Chili. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Chili, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Chili, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the total 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 more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can impact how much you pay. Chili's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also fit into your budget.
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 | $11,408 | 13.3 years |
| 8 kW | $3.01 | $16,850 | $15,541 | 13.0 years |
| 10 kW | $2.95 | $20,650 | $19,839 | 12.8 years |
| 12 kW | $2.89 | $24,284 | $24,302 | 12.5 years |
| 14 kW | $2.83 | $27,754 | $28,931 | 12.2 years |
| 16 kW | $2.77 | $31,058 | $33,725 | 12.0 years |
| 18 kW | $2.71 | $34,196 | $38,684 | 11.7 years |
| 20 kW | $2.66 | $37,170 | $43,808 | 11.5 years |
How to Save on Solar Panels
There are a lot of companies available in Chili, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Contract: Review the contract terms closely to make sure you understand the overall cost, project completion timeline incentives and warranties.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Chili, NY Solar Cost FAQs
How much does it cost to install solar panels in Chili?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $809.78 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.