Solar Panel Cost Guide in Cos Cob, CT (2023 Update)
- Cos Cob Solar Installation Cost: $8,773
- 25-Year Savings: $18,247
- Payback Period: 8.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cos Cob
Let's take a look at the average cost of solar in Cos Cob.
The average cost of solar panels in Cos Cob is 2.8 per watt. Because a 4.5-kW system is needed to cover the energy consumption of a typical home in Cos Cob, the average price of going solar will be about $8,781 after claiming the federal solar tax credit of 30%.
How much you pay can be above or below the average in Cos Cob based on a variety of factors, such as the kind of solar panels you choose and the solar company you hire. Even with the significant initial cost, the average Cos Cob homeowner can save around $23,000 on their energy bills over 20 years, which is one of the benefits of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Cos Cob
| Year | Return on Investment |
|---|---|
| 1 years | $-8,683 |
| 3 years | $-8,502 |
| 5 years | $-8,322 |
| 7 years | $-8,142 |
| 9 years | $-7,962 |
| 11 years | $-7,782 |
| 13 years | $-7,602 |
| 15 years | $-7,422 |
| 17 years | $-7,241 |
| 19 years | $-7,061 |
| 21 years | $-6,881 |
| 23 years | $-6,701 |
| 25 years | $-6,521 |
Top Solar Installers in Cos Cob
Trying to put up solar panels by yourself can be a challenging undertaking, which is why using a solar installer is a good option for many homeowners. Another great thing about choosing a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Cos Cob:
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 Cos Cob
Factors that Affect Solar Panel Costs in Cos Cob
Though the average cost of a solar system in Cos Cob is $8,781, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
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 pay around $2,800 per kilowatt in Cos Cob. The brand and type of equipment you get 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 limited roof space or just want maximum energy production, you can expect 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 increase the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies in Cos Cob, and each can charge different amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $23,990 | 8.4 years |
| 8 kW | $2.86 | $15,994 | $32,300 | 8.3 years |
| 10 kW | $2.80 | $19,600 | $40,767 | 8.1 years |
| 12 kW | $2.74 | $23,050 | $49,391 | 8.0 years |
| 14 kW | $2.69 | $26,342 | $58,172 | 7.8 years |
| 16 kW | $2.63 | $29,478 | $67,109 | 7.6 years |
| 18 kW | $2.58 | $32,458 | $76,204 | 7.5 years |
| 20 kW | $2.52 | $35,280 | $85,455 | 7.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: If you're concerned about the endurance of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: The model of solar panel you need to get plays a role in which company you should choose, since different companies have different panels.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
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 Cos Cob, CT Solar Cost FAQs
What is the average cost of installing solar panels in Cos Cob?
The average cost of solar panels in Cos Cob 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 things like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Cos Cob?
You can't get solar panels for free in Cos Cob. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,207.35 per year.
How often do you have to replace solar panels?
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 larger 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.