Solar Panel Cost Guide in New Haven, CT (2023 Update)
- New Haven Solar Installation Cost: $8,879
- 25-Year Savings: $23,337
- Payback Period: 6.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in New Haven
We go over average solar pricing in New Haven.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New Haven, the average cost of a solar system is 2.8 per watt. The average New Haven 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.
Bear in mind that the figures above are only estimates based on the average energy use of New Haven homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar panels is worth paying. On average New Haven homeowners see about $27,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar installer 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
Installing solar panels by yourself can be a dangerous task, which is why using a solar installer is a good option for many homeowners. A solar installer can also help save you money over time by offering warranties, repairs and component replacements.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
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 New Haven
Factors that Affect Solar Panel Costs in New Haven
The cost of installing a solar system in New Haven can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require 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. There are a lot of different solar panel brands and the one you choose also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get 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
Many homeowners find the average cost of solar in New Haven to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in New Haven, you'll have many options to choose from, but each comes at varying price points for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $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 |
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
EcoWatch's New Haven, CT Solar Cost FAQs
How much does it cost to install solar panels in New Haven?
The average cost of solar panels in New Haven is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
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.