Solar Panel Cost Guide in Canterbury, CT (Sep 2022)

  • Canterbury Solar Installation Cost: $9,153
  • 25-Year Savings: $17,866
  • Payback Period: 8.5 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Canterbury

Let's have a look at the average cost of solar in Canterbury.

In Canterbury, solar panels cost about $3 per watt on average. Using this figure, a typical 4.7 would cost about $9,153 before the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. With average savings of about $22,000 on power bills over 20 years, many homeowners in Canterbury find going solar has a decent ROI.

Click the button below to get connected to a top solar installer in your area for a custom estimate.

Solar savings over time in Canterbury

Year Return on Investment
1 years $-8,072
3 years $-5,911
5 years $-3,749
7 years $-1,588
9 years $574
11 years $2,735
13 years $4,897
15 years $7,058
17 years $9,220
19 years $11,382
21 years $13,543
23 years $15,705
25 years $17,866

Top Solar Installers in Canterbury

Putting up solar panels yourself can be a difficult task, which is why getting a solar installer is a good option for many homeowners. Another advantage of using a solar company is that they can help you optimize your ROI by lowering your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.

If you're searching for a solar company in Canterbury, we've organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Canterbury

Factors that Affect Solar Panel Costs in Canterbury

While the average cost of solar panels in Canterbury is $9,153, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.

Solar Equipment Size

The size of the solar energy system you need is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,800. There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also cost more. 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

Most solar companies in Canterbury provide solar loans, which reduce your upfront costs of installing solar. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.

Solar Panel Installation Company

The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Canterbury, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices because of their larger 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 $12,230 $22,450 8.8 years
8 kW $2.86 $15,994 $30,247 8.6 years
10 kW $2.80 $19,600 $38,201 8.5 years
12 kW $2.74 $23,050 $46,311 8.3 years
14 kW $2.69 $26,342 $54,579 8.1 years
16 kW $2.63 $29,478 $63,003 8.0 years
18 kW $2.58 $32,458 $71,584 7.8 years
20 kW $2.52 $35,280 $80,322 7.6 years

Solar Incentives in Canterbury

Name Local Option - Residential Sustainable Energy Program
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Website Visit here

Name Eversource - Small ZREC Tariff
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
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
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:

  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
  • Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
  • Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable 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 research your installer's reputation is by reading reviews.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Canterbury, CT Solar Cost FAQs

How much does it cost to install solar panels in Canterbury?

This is a hard question to answer exactly, because the cost depends on a variety of 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 be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in Canterbury?

Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside 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 maximize your savings.

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 Canterbury is currently $228,200, so you could be looking at a value of about $9,356 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Canterbury is a worthwhile investment.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.

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.

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