Solar Panel Cost Guide in Collins, NY (2024 Update)
- Collins Solar Installation Cost: $11,696
- 25-Year Savings: $6,352
- Payback Period: 18.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Collins
Find out what the average cost of solar panel installation is in Collins.
The average cost of a solar system in Collins is 4 per watt.To cover the typical energy usage of the average home in Collins, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $11,696, or $16,725 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Collins homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $13,000 on electricity bills over 20 years, many homeowners in Collins find investing in solar has a decent ROI.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Collins
| Year | Return on Investment |
|---|---|
| 1 years | $-10,820 |
| 3 years | $-9,069 |
| 5 years | $-7,318 |
| 7 years | $-5,567 |
| 9 years | $-3,816 |
| 11 years | $-2,065 |
| 13 years | $-314 |
| 15 years | $1,437 |
| 17 years | $3,188 |
| 19 years | $4,939 |
| 21 years | $6,690 |
| 23 years | $8,441 |
| 25 years | $10,192 |
Top Solar Installers in Collins
Trying to install solar panels by yourself can be a difficult project, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar installers offer can be valuable as well, especially if you don’t quite know what kind of solar equipment you need.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our suggestions for providers nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Collins
Factors that Affect Solar Panel Costs in Collins
There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of a solar energy system in Collins, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can figure out by looking at past power bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also changes the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Collins are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $3.80 | $15,943 | $4,773 | 19.2 years |
| 8 kW | $3.72 | $20,849 | $6,772 | 18.9 years |
| 10 kW | $3.65 | $25,550 | $8,976 | 18.5 years |
| 12 kW | $3.58 | $30,047 | $11,385 | 18.1 years |
| 14 kW | $3.50 | $34,339 | $13,997 | 17.8 years |
| 16 kW | $3.43 | $38,427 | $16,815 | 17.4 years |
| 18 kW | $3.36 | $42,311 | $19,836 | 17.0 years |
| 20 kW | $3.29 | $45,990 | $23,062 | 16.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- 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 acquire and how long the project will take.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should go with, since different companies have access to different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Collins, NY Solar Cost FAQs
How much does it cost to install solar panels in Collins?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Collins?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can you sell solar power back to the grid in Collins?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.