Solar Panel Cost Guide in Haddam, CT (2023 Update)
- Haddam 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 Haddam
Let's take a look at the average cost of solar panels in Haddam.
The average cost of a solar panel system in Haddam is 2.8 per watt. The average Haddam homeowner needs a 4.5-kilowatt system, which would cost about $8,898 with the federal tax credit, or $12,724 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of solar panels you want, your solar contractor and more. With typical savings of about $23,000 on utility bills over 20 years, many homeowners in Haddam find investing in solar can be quite rewarding.
To get a free quote from a highly rated solar installation company in Haddam, you can click the button below.
Solar savings over time in Haddam
| Year | Return on Investment |
|---|---|
| 1 years | $-7,046 |
| 3 years | $-3,358 |
| 5 years | $330 |
| 7 years | $4,018 |
| 9 years | $7,706 |
| 11 years | $11,394 |
| 13 years | $15,082 |
| 15 years | $18,770 |
| 17 years | $22,458 |
| 19 years | $26,146 |
| 21 years | $29,834 |
| 23 years | $33,522 |
| 25 years | $37,210 |
Top Solar Installers in Haddam
When going solar, many homeowners choose to hire a solar company since DIY solar panel installation can be a difficult project. The expertise that solar installers offer can be helpful as well, particularly if you don't quite know what type of solar equipment would be right for your home.
If you'd like to make the switch to solar but still aren't sure which solar panel company to go with, here are our recommendations for providers nearby:
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 Haddam
Factors that Affect Solar Panel Costs in Haddam
While the average cost of a solar system in Haddam is $8,898, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,800. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Haddam, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited 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
Most solar companies in Haddam have solar loans, which reduce your upfront costs of installing a solar system. While solar loans make switching to solar energy more accessible for Haddam homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Haddam, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that provides the products, warranties and services you're looking for and also fits within your budget.
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 Haddam, 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:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- 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
EcoWatch's Haddam, CT Solar Cost FAQs
What is the average cost of installing solar panels in Haddam?
The average cost of solar panels in Haddam is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the real cost will depend on things such as the model 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 Haddam?
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 bang for your buck from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption 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.