Solar Panel Cost Guide in Meriden, CT (2023 Update)
- Meriden Solar Installation Cost: $8,879
- 25-Year Savings: $20,112
- Payback Period: 7.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Meriden
We break down average solar pricing in Meriden.
The average cost of solar panels in Meriden is 2.8 per watt. To cover the typical energy usage of the average home in Meriden, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs around $8,879, or $12,697 before the federal solar tax credit of 30% is applied.
How much you pay can be higher or lower than the average in Meriden based on a few factors, such as the kind of solar panels you choose and the solar installer you hire. With average savings of about $24,000 on utility bills over 20 years, many homeowners in Meriden find installing solar panels can be quite rewarding.
To receive a free quote from a vetted solar installer in Meriden, you can click the button below.
Solar savings over time in Meriden
| Year | Return on Investment |
|---|---|
| 1 years | $-7,719 |
| 3 years | $-5,400 |
| 5 years | $-3,081 |
| 7 years | $-761 |
| 9 years | $1,558 |
| 11 years | $3,877 |
| 13 years | $6,196 |
| 15 years | $8,516 |
| 17 years | $10,835 |
| 19 years | $13,154 |
| 21 years | $15,473 |
| 23 years | $17,792 |
| 25 years | $20,112 |
Top Solar Installers in Meriden
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make swapping over to solar power much easier. Companies can also offer access to quality options of the best solar panels and help you choose which one will be right for your family.
If you're on the hunt for a solar installer in Meriden, we've 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 Meriden
Factors that Affect Solar Panel Costs in Meriden
For many Meriden homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Meriden, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,800. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a 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 limited roof space 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. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Meriden to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time due to interest. However, the interest on solar loans also adds to your all-in costs, so it's crucial to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Meriden, and each can charge varying amounts for labor and equipment. Additionally, some companies in Meriden know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $2.91 | $12,230 | $26,189 | 8.0 years |
| 8 kW | $2.86 | $15,994 | $35,232 | 7.8 years |
| 10 kW | $2.80 | $19,600 | $44,432 | 7.7 years |
| 12 kW | $2.74 | $23,050 | $53,789 | 7.5 years |
| 14 kW | $2.69 | $26,342 | $63,302 | 7.3 years |
| 16 kW | $2.63 | $29,478 | $72,973 | 7.2 years |
| 18 kW | $2.58 | $32,458 | $82,800 | 7.0 years |
| 20 kW | $2.52 | $35,280 | $92,784 | 6.9 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose significantly influences your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
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 Meriden, CT Solar Cost FAQs
How much does it cost to install solar panels in Meriden?
This is a tough question to answer precisely, 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 opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Meriden?
You can't get solar panels for free in Meriden. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Does Meriden have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a 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 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.