Solar Panel Cost Guide in Collins, NY (Mar 2023)
- Collins Solar Installation Cost: $9,458
- 25-Year Savings: $6,347
- Payback Period: 15.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Collins
Find out what the average cost of solar panels are in Collins.
The average cost of a solar system in Collins is 2.95 per watt. The average Collins homeowner needs a 4.6-kilowatt system, which would cost about $9,458 with the federal tax credit, or $13,525 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Collins homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find adopting solar power is a solid investment. The average homeowner in Collins can save around $13,000 on their energy bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in your area for a customized estimate.
Solar savings over time in Collins
| Year | Return on Investment |
|---|---|
| 1 years | $-8,825 |
| 3 years | $-7,561 |
| 5 years | $-6,297 |
| 7 years | $-5,032 |
| 9 years | $-3,768 |
| 11 years | $-2,503 |
| 13 years | $-1,239 |
| 15 years | $25 |
| 17 years | $1,290 |
| 19 years | $2,554 |
| 21 years | $3,819 |
| 23 years | $5,083 |
| 25 years | $6,347 |
Top Solar Installers in Collins
Many homeowners decide to hire a solar panel company since figuring out how to install solar panels yourself can be hard. The expertise that solar installers provide can be helpful as well, especially if you aren't sure what type of solar equipment would be right for your home.
Working with a licensed solar installer can help your solar project go smoothly. 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
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 Collins
Factors that Affect Solar Panel Costs in Collins
Even though the average cost of a solar system in Collins is $9,458, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Collins, one of the most crucial 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 consumption, which you can figure out by looking at past power bills. Your overall cost can increase by around $2,950 for each additional kilowatt you need. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Collins average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Collins homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also adds to your total costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the growing popularity of clean energy solutions in Collins, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $7,830 | 15.6 years |
| 8 kW | $3.01 | $16,850 | $10,771 | 15.3 years |
| 10 kW | $2.95 | $20,650 | $13,876 | 15.0 years |
| 12 kW | $2.89 | $24,284 | $17,147 | 14.7 years |
| 14 kW | $2.83 | $27,754 | $20,583 | 14.4 years |
| 16 kW | $2.77 | $31,058 | $24,184 | 14.1 years |
| 18 kW | $2.71 | $34,196 | $27,951 | 13.8 years |
| 20 kW | $2.66 | $37,170 | $31,882 | 13.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Contract: Before signing a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Collins, NY Solar Cost FAQs
What is the average cost of installing solar panels in Collins?
The average cost of solar panels in Collins 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Collins have a net metering program?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.