Solar Panel Cost Guide in Norwich, CT (2023 Update)
- Norwich Solar Installation Cost: $8,859
- 25-Year Savings: $20,871
- Payback Period: 7.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Norwich
Let's have a look at the average cost of solar in Norwich.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Norwich, the average cost of solar panels is 2.8 per watt. The average solar panel system size in Norwich is around 4.5 kilowatts, meaning a cost of about $8,859 for a solar installation, or $12,668 before the 30% federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you may look different based on the amount of energy your home requires and what company you go with. With average savings of about $25,000 on utility bills over 20 years, many homeowners in Norwich find investing in solar can pay off big.
You can click the button below to get connected with a pre-vetted solar installer in Norwich for a quote for your home.
Solar savings over time in Norwich
| Year | Return on Investment |
|---|---|
| 1 years | $-7,670 |
| 3 years | $-5,292 |
| 5 years | $-2,913 |
| 7 years | $-535 |
| 9 years | $1,844 |
| 11 years | $4,222 |
| 13 years | $6,601 |
| 15 years | $8,979 |
| 17 years | $11,358 |
| 19 years | $13,736 |
| 21 years | $16,114 |
| 23 years | $18,493 |
| 25 years | $20,871 |
Top Solar Installers in Norwich
Although it's possible to install solar panels by yourself, it takes extra energy and expertise. For that reason, most homeowners choose a solar panel installer. In addition, if you'd like to maximize your investment in solar, using a solar installer can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
If you'd like to start using solar energy but still aren't sure which solar company to go with, here are our suggestions for providers nearby:
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 Norwich
Factors that Affect Solar Panel Costs in Norwich
For many Norwich homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Norwich, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's crucial 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 choose also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Norwich, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. Even though solar loans make adopting solar energy more accessible for Norwich homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better pricing. Smaller local companies might be more costly, but they generally 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 | $27,264 | 7.7 years |
| 8 kW | $2.86 | $15,994 | $36,665 | 7.6 years |
| 10 kW | $2.80 | $19,600 | $46,224 | 7.4 years |
| 12 kW | $2.74 | $23,050 | $55,939 | 7.3 years |
| 14 kW | $2.69 | $26,342 | $65,811 | 7.1 years |
| 16 kW | $2.63 | $29,478 | $75,840 | 7.0 years |
| 18 kW | $2.58 | $32,458 | $86,025 | 6.8 years |
| 20 kW | $2.52 | $35,280 | $96,368 | 6.7 years |
How to Save on Solar Panels
The solar installer you opt for will influence 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 a few important things you should take into account, including:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: The brand of solar panel you'd like plays a part in which installer you should opt for, since different companies provide different panels.
- Contract: Before signing a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
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 Norwich, CT Solar Cost FAQs
What is the average cost of installing solar panels in Norwich?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $14,000 for a 5-kW system and $28,000 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Norwich?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of 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 bang for your buck from going solar.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your property's value significantly 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 many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.