Solar Panel Cost Guide in Canterbury, CT (2023 Update)
- Canterbury Solar Installation Cost: $9,153
- 25-Year Savings: $17,866
- Payback Period: 8.5 Years
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Updated March 14, 2023
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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 2.8 per watt on average. Using this figure, a typical 4.7-kW system 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 company in your area for a customized quote.
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
Many homeowners decide to use a solar installer since installing solar panels by yourself can be time-consuming. The payback period on a solar system will vary based on factors like your location and energy needs, but going with a solar company can shorten that period. Your provider will be able to help you identify incentives available in your area.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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
Tesla Energy
- 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
For many Canterbury homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Canterbury, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,800. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
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 solar panel installation company you choose will impact your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, 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 |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Solar Panel Brands: Each solar panel brand and model 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.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
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
Tesla Energy
- 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 tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $14,000 for a 5-kW system and $28,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Canterbury?
A solar panel system isn't free in Canterbury, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Canterbury?
Most states have 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.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can 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 buy 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.