Solar Panel Cost Guide in Groton, CT (2024 Update)
- Groton Solar Installation Cost: $11,856
- 25-Year Savings: $18,386
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Groton
We go over average solar pricing in Groton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Groton, the typical cost of a solar system is 4 per watt.To account for the typical energy needs of the average home in Groton, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs about $11,856, or $16,954 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar system you want, your solar contractor and more.With average savings of about $23,000 on energy bills over 20 years, many homeowners in Groton find installing solar panels can be quite rewarding.
You can click the button below to get connected with a top solar installer in Groton that can help you get a more accurate cost estimate for your home.
Solar savings over time in Groton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,108 |
| 3 years | $-6,611 |
| 5 years | $-3,115 |
| 7 years | $382 |
| 9 years | $3,879 |
| 11 years | $7,375 |
| 13 years | $10,872 |
| 15 years | $14,369 |
| 17 years | $17,865 |
| 19 years | $21,362 |
| 21 years | $24,858 |
| 23 years | $28,355 |
| 25 years | $31,852 |
Top Solar Installers in Groton
When going solar, many homeowners prefer to hire a solar company since putting up a solar system yourself can be a difficult project. The expertise that solar companies offer can be invaluable as well, especially if you aren’t sure what brand of solar equipment would be right for your home.
There are a number of licensed solar professionals that can take care of your solar installation project. 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
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 Groton
Factors that Affect Solar Panel Costs in Groton
There are a number of criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Groton, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,750 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Groton average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Groton homeowners decide to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Groton, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Groton know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $19,805 | 11.3 years |
| 8 kW | $3.83 | $21,420 | $26,826 | 11.1 years |
| 10 kW | $3.75 | $26,250 | $34,058 | 10.9 years |
| 12 kW | $3.67 | $30,870 | $41,499 | 10.7 years |
| 14 kW | $3.60 | $35,280 | $49,151 | 10.4 years |
| 16 kW | $3.52 | $39,480 | $57,013 | 10.2 years |
| 18 kW | $3.45 | $43,470 | $65,084 | 10.0 years |
| 20 kW | $3.38 | $47,250 | $73,366 | 9.8 years |
How to Save on Solar Panels
There are a lot of companies available in Groton, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Warranty: If you’re worried about the endurance of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: When making the switch to solar energy, it’s necessary to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project completion timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it 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 Groton, CT Solar Cost FAQs
How much does it cost to install solar panels in Groton?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $18,750 for a 5-kW system and $37,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Groton, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.