Solar Panel Cost Guide in New Haven, CT (Aug 2022)
- New Haven Solar Installation Cost: $9,386
- 25-Year Savings: $22,829
- Payback Period: 7.3 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in New Haven
Let's have a look at the average cost of solar panels 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 $3 per watt. The average New Haven homeowner needs a 4.5-kilowatt system, which would cost about $9,386, or $6,946 after the federal solar tax credit is applied.
The true price you pay can go above or below the average in New Haven based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. For most homeowners, the upfront cost of solar power is worth paying. On average New Haven homeowners see about $27,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in New Haven for a quote for your home.
Solar savings over time in New Haven
| Year | Return on Investment |
|---|---|
| 1 years | $-8,098 |
| 3 years | $-5,520 |
| 5 years | $-2,943 |
| 7 years | $-366 |
| 9 years | $2,211 |
| 11 years | $4,789 |
| 13 years | $7,366 |
| 15 years | $9,943 |
| 17 years | $12,520 |
| 19 years | $15,098 |
| 21 years | $17,675 |
| 23 years | $20,252 |
| 25 years | $22,829 |
Top Solar Installers in New Haven
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make your switch to solar much easier. A solar company can also help save you money in the long run by offering warranties, repairs and system component replacements.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some 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
For many New Haven homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in New Haven, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment Size
The size of the system you need is one of the largest factors that influences the overall cost of going solar. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in New Haven provide solar loans, which reduce your upfront costs of installing solar. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable 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 come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment 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 | $12,929 | $29,764 | 7.6 years |
| 8 kW | $2.86 | $16,908 | $40,016 | 7.4 years |
| 10 kW | $2.80 | $20,720 | $50,435 | 7.3 years |
| 12 kW | $2.74 | $24,367 | $61,019 | 7.1 years |
| 14 kW | $2.69 | $27,848 | $71,769 | 7.0 years |
| 16 kW | $2.63 | $31,163 | $82,685 | 6.8 years |
| 18 kW | $2.58 | $34,312 | $93,767 | 6.7 years |
| 20 kW | $2.52 | $37,296 | $105,014 | 6.6 years |
Solar Incentives in New Haven
| Name | Local Option - Residential Sustainable Energy Program |
| Website | Visit here |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Eversource - Small ZREC Tariff |
| Incentive Amount | $100.74 per REC (for Year 7 round of solicitation)Tariff for Small ZREC determined through PURA |
| Website | Visit here |
| More Info | Click here |
| Name | Energy Conservation Loan |
| Website | Visit here |
| More Info | Click here |
| Name | The United Illuminating Company - Small ZREC Tariff |
| Incentive Amount | $98.18 per ZREC (for Year 6 round of solicitation) |
| Incentive Max | Standard offer for Small ZRECs |
| Website | Visit here |
| More Info | Click here |
| Name | Connecticut Green Energy Building Solutions |
| Website | Visit here |
| More Info | Click here |
| Name | Sales and Use Tax Exemption for Solar and Geothermal Systems |
| Incentive Amount | 100% exemption |
| More Info | Click here |
| Name | Property Tax Exemption for Renewable Energy Systems |
| Incentive Amount | 100% exemption for renewable energy property |
| More Info | Click here |
| Name | Local Option - Property Tax Exemption for Renewable Energy Systems |
| Incentive Amount | Local Option |
| More Info | Click here |
| Name | Residential Solar Investment Program |
| Incentive Amount | Customer-owned (EPBB): Up to 10 kW PTC: $0.358/W 10 to 20 kW PTC: $0.207/W Incentive is reduced accordingly for Design Factors below 75%. Minimum design factor is 60%. Third-Party-Owned (PBI): Up to 20 kW PTC: $0.03/kWh for 6 years Minimum Design Factor 60% |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:
- Installation Process: When making the switch to solar energy, it's important to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate 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
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 model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in New Haven?
Leasing solar panels can be an attractive choice, as it often 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.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in New Haven is currently $221,980, which means you could be looking at a value of about $9,101 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in New Haven is a rewarding investment.
How long do solar panels last in New Haven?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.
