Solar Panel Cost Guide in Ilion, NY (2024 Update)
- Ilion Solar Installation Cost: $11,934
- 25-Year Savings: $5,859
- Payback Period: 19.2 Years
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Average Cost of Solar Panels in Ilion
Find out how much it might cost to make the switch to solar in Ilion.
While the national average of solar panels is $2.66 per watt, solar panels in Ilion generally cost around 4.To account for the typical energy needs of the average home in Ilion, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,934, or $17,066 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and how much solar costs for you will differ based on the amount of energy your home requires and what company you go with.Even with the large upfront cost, the average Ilion homeowner can save about $13,000 on their energy bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar company 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 | $-11,108 |
| 3 years | $-9,456 |
| 5 years | $-7,804 |
| 7 years | $-6,152 |
| 9 years | $-4,500 |
| 11 years | $-2,848 |
| 13 years | $-1,197 |
| 15 years | $455 |
| 17 years | $2,107 |
| 19 years | $3,759 |
| 21 years | $5,411 |
| 23 years | $7,063 |
| 25 years | $8,714 |
Top Solar Installers in Ilion
When going solar, many homeowners prefer to go with a solar company since installing solar panels yourself can be a challenging project. Another benefit of going with a solar installer is that they can help you make the most of your ROI by lowering your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Ilion
Factors that Affect Solar Panel Costs in Ilion
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Ilion: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Ilion, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by about $3,650 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also affects the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your overall costs, so it’s vital 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
Finally, the company you get to install your solar panels can impact the cost. Ilion’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $3.80 | $15,943 | $3,973 | 20.0 years |
| 8 kW | $3.72 | $20,849 | $5,706 | 19.6 years |
| 10 kW | $3.65 | $25,550 | $7,643 | 19.2 years |
| 12 kW | $3.58 | $30,047 | $9,785 | 18.9 years |
| 14 kW | $3.50 | $34,339 | $12,131 | 18.5 years |
| 16 kW | $3.43 | $38,427 | $14,682 | 18.1 years |
| 18 kW | $3.36 | $42,311 | $17,437 | 17.7 years |
| 20 kW | $3.29 | $45,990 | $20,396 | 17.3 years |
How to Save on Solar Panels
The solar company you opt for will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Contract: Before signing a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Different companies carry various brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Ilion, NY Solar Cost FAQs
What is the average cost of installing solar panels in Ilion?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Ilion?
Leasing solar panels can be an appealing choice, because it often 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 much can I save on electricity bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Ilion, that will require at least a 10-kW system. Not all homes will have the roof space for 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 the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having 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.