Solar Panel Cost Guide in New Milford, CT (Oct 2022)

  • New Milford Solar Installation Cost: $9,192
  • 25-Year Savings: $17,827
  • Payback Period: 8.5 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in New Milford

See how much it might cost to switch to solar power in New Milford.

The national average cost of solar panels is $2.66 per watt, but in New Milford it's $3 per watt. Using this figure, a typical 4.7 would cost about $9,192 before the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more. Despite the significant upfront cost, the average New Milford homeowner can save around $22,000 on their power bills over 20 years, which is one of the benefits of solar.

Click the button below to get connected to a vetted solar panel company in your area for a customized quote.

Solar savings over time in New Milford

Year Return on Investment
1 years $-8,112
3 years $-5,950
5 years $-3,789
7 years $-1,627
9 years $535
11 years $2,696
13 years $4,858
15 years $7,019
17 years $9,181
19 years $11,342
21 years $13,504
23 years $15,666
25 years $17,827

Top Solar Installers in New Milford

Many homeowners decide to hire a solar panel installer since installing solar panels on your own can be time-consuming. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.

There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Milford

Factors that Affect Solar Panel Costs in New Milford

For many New Milford homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in New Milford, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment Size

One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,800 per kilowatt in New Milford. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof 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. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

If paying for a solar system out of pocket is too expensive, solar loans are a popular choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your all-in costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

Lastly, the company you choose to install your solar panels can play a role in determining the cost. New Milford's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.

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 $22,304 8.9 years
8 kW $2.86 $15,994 $30,052 8.7 years
10 kW $2.80 $19,600 $37,957 8.5 years
12 kW $2.74 $23,050 $46,019 8.3 years
14 kW $2.69 $26,342 $54,238 8.2 years
16 kW $2.63 $29,478 $62,614 8.0 years
18 kW $2.58 $32,458 $71,146 7.8 years
20 kW $2.52 $35,280 $79,835 7.7 years

Solar Incentives in New Milford

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 (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

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:

  • Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
  • Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Milford, CT Solar Cost FAQs

What is the average cost of installing solar panels in New Milford?

The average cost of solar panels in New Milford 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 use.

Can you get solar panels for free in New Milford?

Solar panels aren't free in New Milford, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Do solar panels increase how much your home is worth?

Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.

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.

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