Solar Panel Cost Guide in Byram, CT (Aug 2022)
- Byram Solar Installation Cost: $9,283
- 25-Year Savings: $22,261
- Payback Period: 7.4 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Byram
We go over average solar pricing in Byram.
While the national average of solar panels is $2.66 per watt, solar panels in Byram typically cost about $3. The average Byram homeowner needs a 4.5-kilowatt system, which would cost about $9,283, or $6,869 after the federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of going solar can vary depending on a few factors, such as how many panels you need, your energy usage and what company you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Byram can save about $27,000 on their power bills over 20 years.
Click the button below to get connected to a top solar company in your area for a personalized quote.
Solar savings over time in Byram
| Year | Return on Investment |
|---|---|
| 1 years | $-8,021 |
| 3 years | $-5,497 |
| 5 years | $-2,974 |
| 7 years | $-450 |
| 9 years | $2,073 |
| 11 years | $4,597 |
| 13 years | $7,120 |
| 15 years | $9,644 |
| 17 years | $12,167 |
| 19 years | $14,691 |
| 21 years | $17,214 |
| 23 years | $19,738 |
| 25 years | $22,261 |
Top Solar Installers in Byram
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring a solar company can make swapping over to solar much easier. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you'd like to make the switch to solar but still aren't certain which solar system company to go with, here are our recommendations for providers 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 Technology
The Green Panel
- 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 Byram
Factors that Affect Solar Panel Costs in Byram
While the average cost of solar panels in Byram is $9,283, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment Size
When it comes to estimating the cost of solar panels in Byram, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,800 for each additional kilowatt you need. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Byram, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. Although solar loans make switching to solar energy more accessible for Byram homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Byram, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $12,929 | $29,356 | 7.6 years |
| 8 kW | $2.86 | $16,908 | $39,473 | 7.5 years |
| 10 kW | $2.80 | $20,720 | $49,755 | 7.4 years |
| 12 kW | $2.74 | $24,367 | $60,204 | 7.2 years |
| 14 kW | $2.69 | $27,848 | $70,818 | 7.1 years |
| 16 kW | $2.63 | $31,163 | $81,598 | 6.9 years |
| 18 kW | $2.58 | $34,312 | $92,543 | 6.8 years |
| 20 kW | $2.52 | $37,296 | $103,655 | 6.6 years |
Solar Incentives in Byram
| Name | Local Option - Residential Sustainable Energy Program |
| Website | Visit here |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Eversource - Small ZREC Tariff |
| Incentive Amount | $100.74 per REC (for Year 7 round of solicitation)Tariff for Small ZREC determined through PURA |
| Website | Visit here |
| More Info | Click here |
| Name | Energy Conservation Loan |
| Website | Visit here |
| More Info | Click here |
| Name | Connecticut Green Energy Building Solutions |
| Website | Visit here |
| More Info | Click here |
| Name | Sales and Use Tax Exemption for Solar and Geothermal Systems |
| Incentive Amount | 100% exemption |
| More Info | Click here |
| Name | Property Tax Exemption for Renewable Energy Systems |
| Incentive Amount | 100% exemption for renewable energy property |
| More Info | Click here |
| Name | Local Option - Property Tax Exemption for Renewable Energy Systems |
| Incentive Amount | Local Option |
| More Info | Click here |
| Name | Residential Solar Investment Program |
| Incentive Amount | Customer-owned (EPBB): Up to 10 kW PTC: $0.358/W 10 to 20 kW PTC: $0.207/W Incentive is reduced accordingly for Design Factors below 75%. Minimum design factor is 60%. Third-Party-Owned (PBI): Up to 20 kW PTC: $0.03/kWh for 6 years Minimum Design Factor 60% |
| Website | Visit here |
| More Info | Click here |
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 a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
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
The Green Panel
- 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 Byram, CT Solar Cost FAQs
How much does it cost to install solar panels in Byram?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $14,000 for a 5-kW system and $28,000 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a crucial 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 think about are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Byram?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.
