Solar Panel Cost Guide in Granby, CT (2024 Update)
- Granby Solar Installation Cost: $12,323
- 25-Year Savings: $17,819
- Payback Period: 11.4 Years
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Average Cost of Solar Panels in Granby
Let’s have a look at the average cost of solar in Granby.
Although the national average of solar panels is $2.66 per watt, solar panels in Granby generally cost about 4.The average solar panel system size in Granby is around 4.7 kilowatts, meaning a cost of about $12,323 for a solar installation, or $17,622 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.With typical savings of about $22,000 on utility bills over 20 years, many homeowners in Granby find investing in solar has a decent ROI.
To receive a free estimate from a vetted solar installer in Granby, you can click the button below.
Solar savings over time in Granby
| Year | Return on Investment |
|---|---|
| 1 years | $-10,479 |
| 3 years | $-6,791 |
| 5 years | $-3,103 |
| 7 years | $585 |
| 9 years | $4,273 |
| 11 years | $7,961 |
| 13 years | $11,649 |
| 15 years | $15,337 |
| 17 years | $19,025 |
| 19 years | $22,713 |
| 21 years | $26,401 |
| 23 years | $30,089 |
| 25 years | $33,777 |
Top Solar Installers in Granby
Although it's possible to install solar panels on your own, it requires extra energy and knowledge. Because of that, most people choose to go with a solar panel installer. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're searching for a solar company in Granby, the EcoWatch team has put together 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 Granby
Factors that Affect Solar Panel Costs in Granby
For many Granby homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Granby, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Granby, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by about $3,750 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Granby, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Granby homeowners opt to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can influence how much you pay. Granby’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Granby 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 walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $3.90 | $16,380 | $18,154 | 11.9 years |
| 8 kW | $3.83 | $21,420 | $24,626 | 11.6 years |
| 10 kW | $3.75 | $26,250 | $31,307 | 11.4 years |
| 12 kW | $3.67 | $30,870 | $38,198 | 11.2 years |
| 14 kW | $3.60 | $35,280 | $45,300 | 10.9 years |
| 16 kW | $3.52 | $39,480 | $52,611 | 10.7 years |
| 18 kW | $3.45 | $43,470 | $60,133 | 10.5 years |
| 20 kW | $3.38 | $47,250 | $67,864 | 10.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: If you’re worried about the endurance of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
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 Granby, CT Solar Cost FAQs
How much does it cost to install solar panels in Granby?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,750 for a 5-kW system and $37,500 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Granby?
Leasing solar panels can be an option if you are unable to 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 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 financial benefits from going solar.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.