Solar Panel Cost Guide in Hamden, CT (2023 Update)
- Hamden Solar Installation Cost: $8,874
- 25-Year Savings: $21,471
- Payback Period: 7.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hamden
Find out what the average cost of solar panel installation is in Hamden.
The national average cost of solar panels is $2.66 per watt, but in Hamden it's 2.8 per watt. The average Hamden homeowner needs a 4.5-kilowatt system, which would cost about $8,879 with the federal tax credit, or $12,697 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar system you want to get, your solar contractor and more. But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $25,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Hamden
| Year | Return on Investment |
|---|---|
| 1 years | $-8,773 |
| 3 years | $-8,570 |
| 5 years | $-8,368 |
| 7 years | $-8,166 |
| 9 years | $-7,963 |
| 11 years | $-7,761 |
| 13 years | $-7,559 |
| 15 years | $-7,357 |
| 17 years | $-7,154 |
| 19 years | $-6,952 |
| 21 years | $-6,750 |
| 23 years | $-6,547 |
| 25 years | $-6,345 |
Top Solar Installers in Hamden
Many homeowners choose to hire a solar panel installer since figuring out how to install solar panels by yourself can be a labor-intensive endeavor. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're looking for a solar company in Hamden, 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
See all of the solar companies in Hamden
Factors that Affect Solar Panel Costs in Hamden
For many Hamden homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Hamden, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,800. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Hamden, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. Even though solar loans make adopting solar energy more accessible for Hamden homeowners, they can also raise 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 final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Hamden, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $27,983 | 7.6 years |
| 8 kW | $2.86 | $15,994 | $37,625 | 7.5 years |
| 10 kW | $2.80 | $19,600 | $47,423 | 7.3 years |
| 12 kW | $2.74 | $23,050 | $57,378 | 7.2 years |
| 14 kW | $2.69 | $26,342 | $67,490 | 7.0 years |
| 16 kW | $2.63 | $29,478 | $77,758 | 6.9 years |
| 18 kW | $2.58 | $32,458 | $88,184 | 6.7 years |
| 20 kW | $2.52 | $35,280 | $98,766 | 6.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Hamden, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Hamden, CT Solar Cost FAQs
How much does it cost to install solar panels in Hamden?
This is a hard question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Hamden?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 get between 20 and 35 panels to cover 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.