Solar Panel Cost Guide in Coventry, CT (2024 Update)
- Coventry Solar Installation Cost: $12,322
- 25-Year Savings: $18,283
- Payback Period: 11.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Coventry
Find out how much it might cost to go solar in Coventry.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Coventry, the average cost of a solar system is 4 per watt.To account for the typical energy needs of the average home in Coventry, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,322, or $17,620 before the federal solar tax credit of 0 is applied.
The actual price you pay can be above or below the average in Coventry depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire.Despite the high upfront cost, the average Coventry homeowner can save around $22,000 on their energy bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a pre-vetted solar installer in Coventry for a quote for your home.
Solar savings over time in Coventry
| Year | Return on Investment |
|---|---|
| 1 years | $-10,478 |
| 3 years | $-6,790 |
| 5 years | $-3,102 |
| 7 years | $586 |
| 9 years | $4,274 |
| 11 years | $7,962 |
| 13 years | $11,650 |
| 15 years | $15,338 |
| 17 years | $19,026 |
| 19 years | $22,714 |
| 21 years | $26,402 |
| 23 years | $30,090 |
| 25 years | $33,778 |
Top Solar Installers in Coventry
When making the switch to solar, many homeowners opt to use a solar installer since putting up solar panels yourself can be a challenging project. The payback period of solar panels will vary based on factors like your roof configuration and energy consumption, but going with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you're on the hunt for a solar company in Coventry, the EcoWatch team has organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Coventry
Factors that Affect Solar Panel Costs in Coventry
Though the average cost of a solar system in Coventry is $12,322, your actual cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,750.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Coventry, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Coventry homeowners opt to finance their solar panel systems to make going solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can affect the cost. Coventry’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $3.90 | $16,380 | $18,749 | 11.7 years |
| 8 kW | $3.83 | $21,420 | $25,418 | 11.4 years |
| 10 kW | $3.75 | $26,250 | $32,298 | 11.2 years |
| 12 kW | $3.67 | $30,870 | $39,388 | 11.0 years |
| 14 kW | $3.60 | $35,280 | $46,687 | 10.8 years |
| 16 kW | $3.52 | $39,480 | $54,197 | 10.5 years |
| 18 kW | $3.45 | $43,470 | $61,916 | 10.3 years |
| 20 kW | $3.38 | $47,250 | $69,846 | 10.1 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which brand 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 peruse their list of offerings before making your decision.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: Before you sign a contract with a solar installer, make sure to read it through carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Coventry, CT Solar Cost FAQs
How much does it cost to install solar panels in Coventry?
The average cost of solar panels in Coventry is about $18,750 for a 5-kW system and $37,500 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Coventry?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home 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 financial benefits from going solar.
Is it worth going solar in Coventry?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out how many solar panels 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 typically produce about 250 to 400 watt-hours per hour, the average home 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.