Solar Panel Cost Guide in Cromwell, CT (2023 Update)
- Cromwell Solar Installation Cost: $8,890
- 25-Year Savings: $18,129
- Payback Period: 8.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cromwell
We break down average solar pricing in Cromwell.
The average cost of a solar system in Cromwell is 2.8 per watt. Using this figure, a typical 4.5-kW system would cost about $8,898 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy usage and what installation company you go with. With average savings of about $23,000 on electricity bills over 20 years, many homeowners in Cromwell find investing in solar can be quite rewarding.
You can click the button below to get connected with a top solar installer in Cromwell that can help you get a more accurate cost estimate for your home.
Solar savings over time in Cromwell
| Year | Return on Investment |
|---|---|
| 1 years | $-8,800 |
| 3 years | $-8,620 |
| 5 years | $-8,440 |
| 7 years | $-8,260 |
| 9 years | $-8,080 |
| 11 years | $-7,900 |
| 13 years | $-7,719 |
| 15 years | $-7,539 |
| 17 years | $-7,359 |
| 19 years | $-7,179 |
| 21 years | $-6,999 |
| 23 years | $-6,819 |
| 25 years | $-6,639 |
Top Solar Installers in Cromwell
Many homeowners opt for a solar installation company since installing solar panels yourself can be challenging. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be best for your family.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Cromwell
Factors that Affect Solar Panel Costs in Cromwell
For many Cromwell homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Cromwell, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,800 per kilowatt in Cromwell. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Cromwell, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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
Many homeowners find the average cost of solar in Cromwell to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Cromwell is the company you get to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that provide a range of services for different budgets. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $23,511 | 8.6 years |
| 8 kW | $2.86 | $15,994 | $31,661 | 8.4 years |
| 10 kW | $2.80 | $19,600 | $39,968 | 8.2 years |
| 12 kW | $2.74 | $23,050 | $48,432 | 8.1 years |
| 14 kW | $2.69 | $26,342 | $57,053 | 7.9 years |
| 16 kW | $2.63 | $29,478 | $65,831 | 7.7 years |
| 18 kW | $2.58 | $32,458 | $74,765 | 7.6 years |
| 20 kW | $2.52 | $35,280 | $83,856 | 7.4 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Cromwell, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
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 Cromwell, CT Solar Cost FAQs
How much does it cost to install solar panels in Cromwell?
This is a difficult question to answer exactly, because the cost depends on many 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is going solar worth it?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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.