Solar Panel Cost Guide in Bethany, CT (2023 Update)
- Bethany Solar Installation Cost: $8,874
- 25-Year Savings: $21,486
- Payback Period: 7.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Bethany
Find out what the average cost of solar panels are in Bethany.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bethany, the average cost of solar panels is 2.8 per watt. The average solar panel system size in Bethany is around 4.5 kilowatts, meaning a cost of about $8,879 for a solar installation, or $12,697 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Bethany depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire. Despite the large upfront cost, the average Bethany homeowner can save about $25,000 on their electricity bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Bethany
| Year | Return on Investment |
|---|---|
| 1 years | $-7,030 |
| 3 years | $-3,342 |
| 5 years | $346 |
| 7 years | $4,034 |
| 9 years | $7,722 |
| 11 years | $11,410 |
| 13 years | $15,098 |
| 15 years | $18,786 |
| 17 years | $22,474 |
| 19 years | $26,162 |
| 21 years | $29,850 |
| 23 years | $33,538 |
| 25 years | $37,226 |
Top Solar Installers in Bethany
When going solar, many homeowners choose to go with a solar company since putting up solar panels yourself can be a challenging project. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're looking for a solar installer in Bethany, we've 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
See all of the solar companies in Bethany
Factors that Affect Solar Panel Costs in Bethany
The cost of installing a solar system in Bethany can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,800 per kilowatt in Bethany. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Bethany, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
If paying for solar panels out of pocket is difficult, solar loans are a solid option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also adds to your overall costs, so it's vital to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can impact the cost. Bethany's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater 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 companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.91 | $12,230 | $28,003 | 7.6 years |
| 8 kW | $2.86 | $15,994 | $37,651 | 7.5 years |
| 10 kW | $2.80 | $19,600 | $47,456 | 7.3 years |
| 12 kW | $2.74 | $23,050 | $57,418 | 7.2 years |
| 14 kW | $2.69 | $26,342 | $67,536 | 7.0 years |
| 16 kW | $2.63 | $29,478 | $77,812 | 6.9 years |
| 18 kW | $2.58 | $32,458 | $88,244 | 6.7 years |
| 20 kW | $2.52 | $35,280 | $98,833 | 6.6 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar company. See to it that you understand how the installation process will go and the project timeline.
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 Bethany, CT Solar Cost FAQs
What is the average cost of installing solar panels in Bethany?
The average cost of solar panels in Bethany is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type 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 Bethany?
Leasing solar panels can be an option if you can't afford to pay upfront or secure 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.
How will installing solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bethany is currently $381,500, so you can look forward to a value of about $15,642 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Bethany is a rewarding investment.
How long do solar panels last in Bethany?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.