Solar Panel Cost Guide in Norwalk, CT (2023 Update)
- Norwalk Solar Installation Cost: $8,773
- 25-Year Savings: $19,052
- Payback Period: 7.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Norwalk
We go over average solar pricing in Norwalk.
The average cost of a solar system in Norwalk is 2.8 per watt. The average Norwalk homeowner needs a 4.5-kilowatt system, which would cost about $8,781 with the federal tax credit, or $12,557 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Norwalk 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. With typical savings of about $24,000 on electricity bills over 20 years, many homeowners in Norwalk find investing in solar can be quite rewarding.
To get a free quote from a top solar company in Norwalk, you can click the button below.
Solar savings over time in Norwalk
| Year | Return on Investment |
|---|---|
| 1 years | $-6,929 |
| 3 years | $-3,241 |
| 5 years | $447 |
| 7 years | $4,135 |
| 9 years | $7,823 |
| 11 years | $11,511 |
| 13 years | $15,199 |
| 15 years | $18,887 |
| 17 years | $22,575 |
| 19 years | $26,263 |
| 21 years | $29,951 |
| 23 years | $33,639 |
| 25 years | $37,327 |
Top Solar Installers in Norwalk
Although you can install solar panels yourself, it involves extra effort and know-how. That's why most homeowners choose to go with a solar panel installer. The expertise that solar companies offer can be invaluable as well, particularly if you aren't sure what type of solar equipment you need.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
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 Norwalk
Factors that Affect Solar Panel Costs in Norwalk
There are many criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of a solar system in Norwalk, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $2,800 for each additional kilowatt you need. The kind of solar panels and equipment you get is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can impact your pricing. Norwalk's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Norwalk have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $25,069 | 8.2 years |
| 8 kW | $2.86 | $15,994 | $33,739 | 8.0 years |
| 10 kW | $2.80 | $19,600 | $42,566 | 7.9 years |
| 12 kW | $2.74 | $23,050 | $51,549 | 7.7 years |
| 14 kW | $2.69 | $26,342 | $60,690 | 7.6 years |
| 16 kW | $2.63 | $29,478 | $69,987 | 7.4 years |
| 18 kW | $2.58 | $32,458 | $79,441 | 7.3 years |
| 20 kW | $2.52 | $35,280 | $89,052 | 7.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Contract: Before you sign a contract with a solar company, be sure to look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project 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
EcoWatch's Norwalk, CT Solar Cost FAQs
What is the average cost of installing solar panels in Norwalk?
The average cost of solar panels in Norwalk is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Norwalk?
You can't get solar panels for free in Norwalk. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
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 Norwalk is currently $615,001, so you can expect a value of about $25,215 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Norwalk is a fruitful investment.
How often do you have to replace solar panels?
Although 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 decide to 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.