Solar Panel Cost Guide in Norwich, CT (2024 Update)
- Norwich Solar Installation Cost: $11,856
- 25-Year Savings: $20,878
- Payback Period: 10.0 Years
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Average Cost of Solar Panels in Norwich
Find out what the average cost of a solar system is in Norwich.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Norwich, the typical cost of solar panels is 4 per watt.Using this figure, a typical 4.5-kW system would cost about $11,856 before the 0 federal solar tax credit is applied.
These figures are only averages, and your own solar costs will most likely differ based on the amount of energy your home requires and what company you want to go with.With typical savings of about $25,000 on energy bills over 20 years, many homeowners in Norwich find installing solar panels can pay off big.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Norwich
| Year | Return on Investment |
|---|---|
| 1 years | $-10,089 |
| 3 years | $-6,556 |
| 5 years | $-3,022 |
| 7 years | $511 |
| 9 years | $4,045 |
| 11 years | $7,579 |
| 13 years | $11,112 |
| 15 years | $14,646 |
| 17 years | $18,180 |
| 19 years | $21,713 |
| 21 years | $25,247 |
| 23 years | $28,780 |
| 25 years | $32,314 |
Top Solar Installers in Norwich
Many homeowners opt for a solar panel installer since installing solar panels by yourself can be hard. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Norwich
Factors that Affect Solar Panel Costs in Norwich
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Norwich: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Norwich, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past energy bills. Your overall cost can increase by around $3,750 for each additional kilowatt you need.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Norwich homeowners choose to finance their solar panel systems to make paying for solar more affordable.Although solar loans make going solar more accessible for Norwich homeowners, they can also raise the total you pay for your system, depending on your interest rate. 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
Finally, the company you get to install your solar system can impact the cost. Norwich’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, 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 | $3.90 | $16,380 | $23,114 | 10.4 years |
| 8 kW | $3.83 | $21,420 | $31,239 | 10.2 years |
| 10 kW | $3.75 | $26,250 | $39,574 | 10.0 years |
| 12 kW | $3.67 | $30,870 | $48,119 | 9.8 years |
| 14 kW | $3.60 | $35,280 | $56,873 | 9.6 years |
| 16 kW | $3.52 | $39,480 | $65,838 | 9.4 years |
| 18 kW | $3.45 | $43,470 | $75,013 | 9.2 years |
| 20 kW | $3.38 | $47,250 | $84,398 | 9.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, make sure you 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 if there are any guarantees about energy production.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of 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 positive reviews from previous customers.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Norwich, CT Solar Cost FAQs
How much does it cost to install solar panels in Norwich?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,750 for a 5-kW system and $37,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Norwich is currently $244,148, so you can look forward to a value of about $10,010 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Norwich is a fruitful investment.
How long do solar panels last in Norwich?
Even though 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 their energy production will have decreased significantly after that point. You can choose to replace them after having 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.