Solar Panel Cost Guide in Naugatuck, CT (2024 Update)
- Naugatuck Solar Installation Cost: $11,885
- 25-Year Savings: $18,146
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Naugatuck
Let’s have a look at the average cost of solar panels in Naugatuck.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Naugatuck, the average cost of a solar system is 4 per watt.The average solar panel system size in Naugatuck is around 4.5 kilowatts, meaning a cost of about $11,885 for a solar installation, or $16,996 before the 0 federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Naugatuck based on a few factors, such as the type of solar panels you choose and the solar installer you hire.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Naugatuck see about $23,000 in savings on utility bills over 20 years.
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Solar savings over time in Naugatuck
| Year | Return on Investment |
|---|---|
| 1 years | $-10,041 |
| 3 years | $-6,353 |
| 5 years | $-2,665 |
| 7 years | $1,023 |
| 9 years | $4,711 |
| 11 years | $8,399 |
| 13 years | $12,087 |
| 15 years | $15,775 |
| 17 years | $19,463 |
| 19 years | $23,151 |
| 21 years | $26,839 |
| 23 years | $30,527 |
| 25 years | $34,215 |
Top Solar Installers in Naugatuck
Many homeowners opt for a solar installer since figuring out how to install solar panels by yourself can be time-consuming. The expertise that solar installers provide can be invaluable as well, especially if you aren’t sure what kind of solar equipment you need.
There are several licensed solar professionals that can install solar panels for you. 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
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 Naugatuck
Factors that Affect Solar Panel Costs in Naugatuck
The cost of installing a solar system in Naugatuck can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, 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 $3,750. There are several different solar panel brands and the one you pick also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Naugatuck, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your total costs, so it’s vital to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can affect how much it costs. Naugatuck’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Naugatuck have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $19,427 | 11.4 years |
| 8 kW | $3.83 | $21,420 | $26,323 | 11.2 years |
| 10 kW | $3.75 | $26,250 | $33,429 | 11.0 years |
| 12 kW | $3.67 | $30,870 | $40,745 | 10.8 years |
| 14 kW | $3.60 | $35,280 | $48,270 | 10.6 years |
| 16 kW | $3.52 | $39,480 | $56,006 | 10.3 years |
| 18 kW | $3.45 | $43,470 | $63,952 | 10.1 years |
| 20 kW | $3.38 | $47,250 | $72,108 | 9.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose significantly influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: If you care about the endurance of your solar system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
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 Naugatuck, CT Solar Cost FAQs
How much does it cost to install solar panels in Naugatuck?
This is a tough question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Naugatuck?
Leasing solar panels can be an option if you can’t afford to pay upfront or get 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 financial benefits from going solar.
Is switching to solar power worth it?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
What solar power system size is right for 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 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 get 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.