Solar Panel Cost Guide in Griswold, CT (Mar 2023)
- Griswold Solar Installation Cost: $8,859
- 25-Year Savings: $20,837
- Payback Period: 7.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Griswold
We break down average solar pricing in Griswold.
The average cost of a solar system in Griswold is 2.8 per watt. Because a 4.5-kW system is needed to cover the energy needs of a typical home in Griswold, the average price of going solar will be about $8,859 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Griswold homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $25,000 on utility bills over 20 years, many homeowners in Griswold find going solar has a decent ROI.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Griswold
| Year | Return on Investment |
|---|---|
| 1 years | $-7,671 |
| 3 years | $-5,296 |
| 5 years | $-2,920 |
| 7 years | $-544 |
| 9 years | $1,831 |
| 11 years | $4,207 |
| 13 years | $6,583 |
| 15 years | $8,958 |
| 17 years | $11,334 |
| 19 years | $13,710 |
| 21 years | $16,085 |
| 23 years | $18,461 |
| 25 years | $20,837 |
Top Solar Installers in Griswold
When switching to solar energy, many homeowners choose to hire a solar installation company since installing solar panels yourself can be a time-consuming project. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you're looking for a solar company in Griswold, the EcoWatch team has compiled 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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Griswold
Factors that Affect Solar Panel Costs in Griswold
Though the average cost of a solar system in Griswold is $8,859, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Griswold, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, 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 time, but they can also be a big investment. That's why many Griswold homeowners decide to finance their solar panel systems to offset upfront costs. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $27,218 | 7.8 years |
| 8 kW | $2.86 | $15,994 | $36,604 | 7.6 years |
| 10 kW | $2.80 | $19,600 | $46,147 | 7.5 years |
| 12 kW | $2.74 | $23,050 | $55,847 | 7.3 years |
| 14 kW | $2.69 | $26,342 | $65,704 | 7.2 years |
| 16 kW | $2.63 | $29,478 | $75,717 | 7.0 years |
| 18 kW | $2.58 | $32,458 | $85,887 | 6.9 years |
| 20 kW | $2.52 | $35,280 | $96,214 | 6.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Griswold, CT Solar Cost FAQs
What is the average cost of installing solar panels in Griswold?
This is a tough question to answer exactly, because the cost depends on a few different 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
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 $1,314.94 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.