Solar Panel Cost Guide in Victor, NY (2023 Update)
- Victor Solar Installation Cost: $9,518
- 25-Year Savings: $7,408
- Payback Period: 14.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Victor
We break down average solar pricing in Victor.
The average cost of a solar system in Victor is 2.95 per watt. The average solar panel system size in Victor is around 4.6 kilowatts, meaning a cost of about $9,520 for a solar installation, or $13,614 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of solar panels you want to get, your solar contractor and more. Many homeowners find going solar is a rewarding investment. The average homeowner in Victor can save about $14,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar company in your area for a customized estimate.
Solar savings over time in Victor
| Year | Return on Investment |
|---|---|
| 1 years | $-8,611 |
| 3 years | $-6,797 |
| 5 years | $-4,983 |
| 7 years | $-3,169 |
| 9 years | $-1,355 |
| 11 years | $459 |
| 13 years | $2,273 |
| 15 years | $4,087 |
| 17 years | $5,901 |
| 19 years | $7,715 |
| 21 years | $9,529 |
| 23 years | $11,343 |
| 25 years | $13,157 |
Top Solar Installers in Victor
When making the switch to solar, many homeowners opt to hire a solar company since overseeing your solar installation yourself can be a challenging project. The expertise that solar installers offer can be valuable as well, particularly if you don't quite know what brand of solar equipment you need.
If you'd like to go solar but still aren't sure which solar panel company to go with, here are our recommendations for providers in Victor:
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 Victor
Factors that Affect Solar Panel Costs in Victor
For many Victor homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Victor, 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Victor to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. Even though solar loans make adopting solar energy 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
A final factor to consider when trying to estimate the cost of solar for your home or business in Victor is the company you hire to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services for different budgets. Additionally, some companies in Victor have more knowledge about local solar incentives and can help you take advantage of 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 | $3.07 | $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
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
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 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 actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Victor?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $734.43 per year.
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.