Solar Panel Cost Guide in Victor, NY (Mar 2023)
- Victor Solar Installation Cost: $9,520
- 25-Year Savings: $7,407
- Payback Period: 14.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Victor
See how much it might cost to install solar panels in Victor.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Victor, the average cost of a solar system is 2.95 per watt. Using this figure, a typical 4.6-kW system would cost about $9,520 before the 30% federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you will most likely differ based on your specific situation and what company you go with. For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $14,000 in savings on energy bills over 20 years.
To get a free quote from a pre-vetted solar installation company in Victor, you can click the button below.
Solar savings over time in Victor
| Year | Return on Investment |
|---|---|
| 1 years | $-8,843 |
| 3 years | $-7,488 |
| 5 years | $-6,134 |
| 7 years | $-4,780 |
| 9 years | $-3,426 |
| 11 years | $-2,072 |
| 13 years | $-718 |
| 15 years | $636 |
| 17 years | $1,990 |
| 19 years | $3,344 |
| 21 years | $4,699 |
| 23 years | $6,053 |
| 25 years | $7,407 |
Top Solar Installers in Victor
When switching to solar energy, many homeowners opt to hire a solar installation company since DIY solar panel installation can be a challenging project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you're looking for a solar installer in Victor, the EcoWatch team has organized a list of our top suggestions here:
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 Victor
Factors that Affect Solar Panel Costs in Victor
There are many criteria that can influence your solar system 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
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $2,950 per kilowatt in Victor. The type of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Victor, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. Although solar loans make going solar more accessible for Victor homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installer you select will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. The company's size sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $9,147 | 14.6 years |
| 8 kW | $3.01 | $16,850 | $12,527 | 14.3 years |
| 10 kW | $2.95 | $20,650 | $16,072 | 14.1 years |
| 12 kW | $2.89 | $24,284 | $19,782 | 13.8 years |
| 14 kW | $2.83 | $27,754 | $23,657 | 13.5 years |
| 16 kW | $2.77 | $31,058 | $27,697 | 13.2 years |
| 18 kW | $2.71 | $34,196 | $31,903 | 12.9 years |
| 20 kW | $2.66 | $37,170 | $36,273 | 12.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Victor, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: The brand of solar panel you want to install plays a part in which company you should opt for, since different companies provide different panels.
- Contract: Before signing a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
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 Victor, NY Solar Cost FAQs
How much does it cost to install solar panels in Victor?
The average cost of solar panels in Victor 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 kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Victor?
Leasing solar panels can be an option if you can't afford 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 property 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 savings from going solar.
Is it worth going solar in Victor?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last 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 level 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.