Solar Panel Cost Guide in Griswold, CT (2024 Update)
- Griswold Solar Installation Cost: $11,856
- 25-Year Savings: $20,843
- Payback Period: 10.0 Years
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Average Cost of Solar Panels in Griswold
Let’s have a look at the average cost of solar in Griswold.
Although the national average of solar panels is $2.66 per watt, solar panels in Griswold generally cost about 4.Using this figure, a typical 4.5-kW system would cost about $11,856 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Griswold depending on a few factors, such as the kind of solar panels you choose and the solar company you hire.For many homeowners, the upfront investment in solar is worth paying. On average Griswold homeowners see about $25,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Griswold that can help you get a more accurate cost estimate for your home.
Solar savings over time in Griswold
| Year | Return on Investment |
|---|---|
| 1 years | $-10,012 |
| 3 years | $-6,324 |
| 5 years | $-2,636 |
| 7 years | $1,052 |
| 9 years | $4,740 |
| 11 years | $8,428 |
| 13 years | $12,116 |
| 15 years | $15,804 |
| 17 years | $19,492 |
| 19 years | $23,180 |
| 21 years | $26,868 |
| 23 years | $30,556 |
| 25 years | $34,244 |
Top Solar Installers in Griswold
Trying to put up solar panels on your own can be a stressful project, which is why getting a solar installer is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you're on the hunt for a solar company in Griswold, 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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Griswold
Factors that Affect Solar Panel Costs in Griswold
For many Griswold homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Griswold, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.There are many different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, 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.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.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 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 | $23,068 | 10.4 years |
| 8 kW | $3.83 | $21,420 | $31,178 | 10.2 years |
| 10 kW | $3.75 | $26,250 | $39,497 | 10.0 years |
| 12 kW | $3.67 | $30,870 | $48,027 | 9.8 years |
| 14 kW | $3.60 | $35,280 | $56,766 | 9.6 years |
| 16 kW | $3.52 | $39,480 | $65,715 | 9.4 years |
| 18 kW | $3.45 | $43,470 | $74,875 | 9.2 years |
| 20 kW | $3.38 | $47,250 | $84,244 | 9.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- 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 timeline.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Griswold, CT Solar Cost FAQs
How much does it cost to install solar panels in Griswold?
The average cost of solar panels in Griswold is about $18,750 for a 5-kW system and $37,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the type 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 Griswold?
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 don’t have access to 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 bang for your buck from going solar.
How will solar panels impact the value of my home?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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.