Solar Panel Cost Guide in Ilion, NY (2023 Update)
- Ilion Solar Installation Cost: $9,644
- 25-Year Savings: $5,860
- Payback Period: 15.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Ilion
Let's take a look at the average cost of solar in Ilion.
In Ilion, solar panels cost about 2.95 per watt on average. Since a 4.7-kW system is needed to cover the energy costs of a typical home in Ilion, the average price of going solar will be about $9,644 after claiming the federal solar tax credit of 30%.
The true cost of your system can be above or below the average in Ilion based on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. But, after you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $13,000 over 20 years on utility bills.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Ilion
| Year | Return on Investment |
|---|---|
| 1 years | $-9,023 |
| 3 years | $-7,783 |
| 5 years | $-6,543 |
| 7 years | $-5,303 |
| 9 years | $-4,062 |
| 11 years | $-2,822 |
| 13 years | $-1,582 |
| 15 years | $-341 |
| 17 years | $899 |
| 19 years | $2,139 |
| 21 years | $3,379 |
| 23 years | $4,620 |
| 25 years | $5,860 |
Top Solar Installers in Ilion
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make your switch to solar power much easier. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
If you'd like to go solar but still aren't certain which solar system installer to go with, here are our recommendations for providers nearby:
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 Ilion
Factors that Affect Solar Panel Costs in Ilion
For many Ilion homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Ilion, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,950. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Ilion, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Ilion have solar loans, which reduce the initial cost of installing solar panels. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $7,030 | 16.2 years |
| 8 kW | $3.01 | $16,850 | $9,704 | 15.9 years |
| 10 kW | $2.95 | $20,650 | $12,543 | 15.6 years |
| 12 kW | $2.89 | $24,284 | $15,547 | 15.2 years |
| 14 kW | $2.83 | $27,754 | $18,717 | 14.9 years |
| 16 kW | $2.77 | $31,058 | $22,051 | 14.6 years |
| 18 kW | $2.71 | $34,196 | $25,551 | 14.3 years |
| 20 kW | $2.66 | $37,170 | $29,216 | 14.0 years |
How to Save on Solar Panels
There are a large number of companies available in Ilion, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: Before signing a contract with a solar installer, make sure to read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: The brand of solar panel you need plays a role in which company you should opt for, since different companies provide different panels.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Ilion, NY Solar Cost FAQs
How much does it cost to install solar panels in Ilion?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Ilion?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Ilion, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Ilion?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt 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.