Solar Panel Cost Guide in Chili, NY (2024 Update)
- Chili Solar Installation Cost: $10,653
- 25-Year Savings: $8,272
- Payback Period: 15.8 Years
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Average Cost of Solar Panels in Chili
Let’s take a look at the average cost of solar panels in Chili.
In Chili, solar panels cost about 4 per watt on average.Because a 4.2-kW system is needed to cover the energy usage of a typical home in Chili, the average price of going solar will be about $10,653 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $15,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar installer in your area for a customized estimate.
Solar savings over time in Chili
| Year | Return on Investment |
|---|---|
| 1 years | $-9,745 |
| 3 years | $-7,930 |
| 5 years | $-6,115 |
| 7 years | $-4,299 |
| 9 years | $-2,484 |
| 11 years | $-669 |
| 13 years | $1,147 |
| 15 years | $2,962 |
| 17 years | $4,777 |
| 19 years | $6,592 |
| 21 years | $8,408 |
| 23 years | $10,223 |
| 25 years | $12,038 |
Top Solar Installers in Chili
Although you can install solar panels yourself, it takes extra effort and knowledge. Because of that, most homeowners choose a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance in the long run.
If you're on the hunt for a solar installer in Chili, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Chili
Factors that Affect Solar Panel Costs in Chili
The cost of installing a solar system in Chili can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Chili, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of 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
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Chili homeowners choose to finance their solar panel systems to offset upfront costs.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Chili is the company you hire to install your solar system. Similar to choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that offer a range of services at different costs.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that has the products, warranties and services you want and also fit into your budget.
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 | $8,350 | 16.4 years |
| 8 kW | $3.72 | $20,849 | $11,542 | 16.1 years |
| 10 kW | $3.65 | $25,550 | $14,939 | 15.8 years |
| 12 kW | $3.58 | $30,047 | $18,540 | 15.5 years |
| 14 kW | $3.50 | $34,339 | $22,345 | 15.1 years |
| 16 kW | $3.43 | $38,427 | $26,355 | 14.8 years |
| 18 kW | $3.36 | $42,311 | $30,569 | 14.5 years |
| 20 kW | $3.29 | $45,990 | $34,988 | 14.2 years |
How to Save on Solar Panels
There are many companies to choose from in Chili, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Review the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.
- Reputation: Long-standing 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 adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Chili, NY Solar Cost FAQs
What is the average cost of installing solar panels in Chili?
The average cost of solar panels in Chili is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t go 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."
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose 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.