Solar Panel Cost Guide in North Collins, NY (2023 Update)
- North Collins Solar Installation Cost: $9,453
- 25-Year Savings: $6,151
- Payback Period: 15.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in North Collins
See how much it might cost to switch to solar power in North Collins.
The national average cost of solar panels is $2.66 per watt, but in North Collins it's 2.95 per watt. Using this figure, a typical 4.6-kW system would cost about $9,458 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average North Collins homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $13,000 in savings on energy bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in North Collins
| Year | Return on Investment |
|---|---|
| 1 years | $-9,401 |
| 3 years | $-9,297 |
| 5 years | $-9,193 |
| 7 years | $-9,089 |
| 9 years | $-8,985 |
| 11 years | $-8,881 |
| 13 years | $-8,777 |
| 15 years | $-8,673 |
| 17 years | $-8,569 |
| 19 years | $-8,465 |
| 21 years | $-8,361 |
| 23 years | $-8,257 |
| 25 years | $-8,153 |
Top Solar Installers in North Collins
Many homeowners opt for a solar installer since trying to install solar panels on your own can be challenging. Some solar companies, especially local ones, can help you make the most of incentives in North Collins, therefore optimizing your ROI.
Working with a professional 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
See all of the solar companies in North Collins
Factors that Affect Solar Panel Costs in North Collins
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in North Collins: 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 for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,950. The model of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to decide on 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
If paying for a solar system in cash is too expensive, solar loans are a solid option because they decrease your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also adds to your total costs, so it's crucial to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $7,567 | 15.8 years |
| 8 kW | $3.01 | $16,850 | $10,419 | 15.4 years |
| 10 kW | $2.95 | $20,650 | $13,437 | 15.1 years |
| 12 kW | $2.89 | $24,284 | $16,620 | 14.8 years |
| 14 kW | $2.83 | $27,754 | $19,968 | 14.5 years |
| 16 kW | $2.77 | $31,058 | $23,482 | 14.2 years |
| 18 kW | $2.71 | $34,196 | $27,160 | 13.9 years |
| 20 kW | $2.66 | $37,170 | $31,004 | 13.6 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose considerably impacts your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which kind 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 options before making your decision.
- 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.
- Contract: Before you sign a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
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 North Collins, NY Solar Cost FAQs
What is the average cost of installing solar panels in North Collins?
The average cost of solar panels in North 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in North Collins?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How will having solar panels impact my home value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.