Solar Panel Cost Guide in Conning Towers-Nautilus Park, CT (2023 Update)
- Conning Towers-Nautilus Park Solar Installation Cost: $8,853
- 25-Year Savings: $18,386
- Payback Period: 8.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Conning Towers-Nautilus Park
Find out what the average cost of installing solar panels is in Conning Towers-Nautilus Park.
The national average cost of solar panels is $2.66 per watt, but in Conning Towers-Nautilus Park it's 2.8 per watt. To account for the typical energy needs of the average home in Conning Towers-Nautilus Park, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,859, or $12,668 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Conning Towers-Nautilus Park homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Despite the large upfront cost, the average Conning Towers-Nautilus Park homeowner can save around $23,000 on their power bills over 20 years, which is one of the benefits of solar.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Conning Towers-Nautilus Park
| Year | Return on Investment |
|---|---|
| 1 years | $-7,009 |
| 3 years | $-3,321 |
| 5 years | $367 |
| 7 years | $4,055 |
| 9 years | $7,743 |
| 11 years | $11,431 |
| 13 years | $15,119 |
| 15 years | $18,807 |
| 17 years | $22,495 |
| 19 years | $26,183 |
| 21 years | $29,871 |
| 23 years | $33,559 |
| 25 years | $37,247 |
Top Solar Installers in Conning Towers-Nautilus Park
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring an installer can make swapping over to solar power much easier. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
Working with a licensed 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
See all of the solar companies in Conning Towers-Nautilus Park
Factors that Affect Solar Panel Costs in Conning Towers-Nautilus Park
Even though the average cost of a solar system in Conning Towers-Nautilus Park is $8,859, your final cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, 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. The type of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Plus, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Conning Towers-Nautilus Park homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Conning Towers-Nautilus Park, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Conning Towers-Nautilus Park have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $23,954 | 8.4 years |
| 8 kW | $2.86 | $15,994 | $32,253 | 8.3 years |
| 10 kW | $2.80 | $19,600 | $40,708 | 8.1 years |
| 12 kW | $2.74 | $23,050 | $49,320 | 8.0 years |
| 14 kW | $2.69 | $26,342 | $58,089 | 7.8 years |
| 16 kW | $2.63 | $29,478 | $67,014 | 7.6 years |
| 18 kW | $2.58 | $32,458 | $76,097 | 7.5 years |
| 20 kW | $2.52 | $35,280 | $85,336 | 7.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar installer. Make sure you understand how the installation process works and the project completion timeline.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two 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.
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 Conning Towers-Nautilus Park, CT Solar Cost FAQs
How much does it cost to install solar panels in Conning Towers-Nautilus Park?
The average cost of solar panels in Conning Towers-Nautilus Park is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Conning Towers-Nautilus Park?
Leasing solar panels can be an option if you are unable to pay upfront or get 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 bang for your buck from going solar.
Do solar panels increase your home value?
Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 get between 20 and 35 panels to cover 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.