Solar Panel Cost Guide in Newington, CT (2023 Update)
- Newington Solar Installation Cost: $9,201
- 25-Year Savings: $17,819
- Payback Period: 8.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Newington
Let's have a look at the average cost of solar panels in Newington.
The national average cost of solar panels is $2.66 per watt, but in Newington it's 2.8 per watt. Using this figure, a typical 4.7-kW system would cost about $9,192 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Newington depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. With typical savings of about $22,000 on power bills over 20 years, many homeowners in Newington find investing in solar can be quite rewarding.
To get a free estimate from a vetted solar installer in Newington, you can click the button below.
Solar savings over time in Newington
| Year | Return on Investment |
|---|---|
| 1 years | $-9,111 |
| 3 years | $-8,931 |
| 5 years | $-8,751 |
| 7 years | $-8,570 |
| 9 years | $-8,390 |
| 11 years | $-8,210 |
| 13 years | $-8,030 |
| 15 years | $-7,850 |
| 17 years | $-7,670 |
| 19 years | $-7,490 |
| 21 years | $-7,310 |
| 23 years | $-7,129 |
| 25 years | $-6,949 |
Top Solar Installers in Newington
When making the switch to solar, many homeowners prefer to use a solar installation company since overseeing your solar installation yourself can be a time-consuming project. Companies can also have access to quality options of the best solar panels and help you decide which one will be best for your home.
If you'd like to switch to solar energy but still aren't certain which solar system company to go with, here are our recommendations for providers in Newington:
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 Newington
Factors that Affect Solar Panel Costs in Newington
The cost of installing a solar system in Newington 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 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 a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,800. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Newington average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Newington homeowners opt to finance their solar panel systems to make paying for solar more affordable. It's a good idea 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can impact your pricing. Newington's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger 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 | $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 | $54,237 | 8.2 years |
| 16 kW | $2.63 | $29,478 | $62,613 | 8.0 years |
| 18 kW | $2.58 | $32,458 | $71,145 | 7.8 years |
| 20 kW | $2.52 | $35,280 | $79,834 | 7.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
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 Newington, CT Solar Cost FAQs
What is the average cost of installing solar panels in Newington?
This is a tough question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Newington?
Leasing solar panels can be an option if you are unable to pay upfront or secure 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 savings from going solar.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for many 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 reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
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 the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had 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.