Solar Panel Cost Guide in New Haven, CT (Oct 2022)
- New Haven Solar Installation Cost: $8,879
- 25-Year Savings: $23,337
- Payback Period: 6.9 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in New Haven
We go over average solar pricing in New Haven.
Although the national average of solar panels is $2.66 per watt, solar panels in New Haven typically cost about $3. The average New Haven homeowner needs a 4.5-kilowatt system, which would cost about $8,879, or $6,570 after the federal solar tax credit of 30% is applied.
These figures are only estimates, and how much solar costs for you will most likely look different based on your specific situation and what company you go with. For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in New Haven see about $27,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in New Haven
| Year | Return on Investment |
|---|---|
| 1 years | $-7,590 |
| 3 years | $-5,013 |
| 5 years | $-2,436 |
| 7 years | $142 |
| 9 years | $2,719 |
| 11 years | $5,296 |
| 13 years | $7,873 |
| 15 years | $10,450 |
| 17 years | $13,028 |
| 19 years | $15,605 |
| 21 years | $18,182 |
| 23 years | $20,759 |
| 25 years | $23,337 |
Top Solar Installers in New Haven
Many homeowners choose to use a solar panel installer since trying to install solar panels on your own can be a lot of work. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
If you'd like to start using solar energy but still aren't certain which solar system company to go with, here are our suggestions for providers in New Haven:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
The Green Panel
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in New Haven
Factors that Affect Solar Panel Costs in New Haven
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in New Haven: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment Size
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size. Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,800. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the New Haven average.
Solar Financing Terms
Many homeowners find the average cost of solar in New Haven to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. You'll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar company you pick will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $30,463 | 7.2 years |
| 8 kW | $2.86 | $15,994 | $40,930 | 7.0 years |
| 10 kW | $2.80 | $19,600 | $51,555 | 6.9 years |
| 12 kW | $2.74 | $23,050 | $62,336 | 6.7 years |
| 14 kW | $2.69 | $26,342 | $73,274 | 6.6 years |
| 16 kW | $2.63 | $29,478 | $84,369 | 6.5 years |
| 18 kW | $2.58 | $32,458 | $95,621 | 6.3 years |
| 20 kW | $2.52 | $35,280 | $107,030 | 6.2 years |
Solar Incentives in New Haven
| Name | Sales and Use Tax Exemption for Solar and Geothermal Systems |
| Incentive Amount | 100% exemption |
| More Info | Click here |
| Name | Residential Solar Investment Program |
| Website | Visit here |
| More Info | Click here |
| Name | Connecticut Green Energy Building Solutions |
| Incentive Amount | |
| Website | Visit here |
| More Info | Click here |
| Name | Smart-E loans |
| Incentive Amount | |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Property Tax Exemption for Renewable Energy Systems |
| Incentive Amount | Local Option |
| More Info | Click here |
| Name | Property Tax Exemption for Renewable Energy Systems |
| More Info | Click here |
| Name | Sales and Use Tax Exemption for Energy-Efficient Products |
| Incentive Amount | 100% exemption |
| More Info | Click here |
| Name | Energy Conservation Loan |
| Website | Visit here |
| More Info | Click here |
| Name | The United Illuminating Company - Small ZREC Tariff |
| Website | Visit here |
| More Info | Click here |
| Name | Eversource - Small ZREC Tariff |
| Website | Visit here |
| More Info | Click here |
| Name | Energy Efficiency Fund (Electric and Gas) - Residential Energy Efficiency Financing |
| Incentive Amount | $25,000 |
| Website | Visit here |
| More Info | Click here |
| Name | (Electric and Gas) Residential Rebate Program |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Residential Sustainable Energy Program |
| Incentive Amount | Locally determined |
| Website | Visit here |
| More Info | Click here |
| Name | Residential Renewable Energy Tax Credit |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While 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 ask for their list of options before deciding.
- Reputation: Long-standing companies likely have a solid 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 support, such as part repairs and replacements.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
The Green Panel
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's New Haven, CT Solar Cost FAQs
What is the average cost of installing solar panels in New Haven?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally 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 other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in New Haven?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
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 stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using 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.
