Solar Panel Cost Guide in Oxford, CT (2023 Update)
- Oxford Solar Installation Cost: $8,879
- 25-Year Savings: $21,481
- Payback Period: 7.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Oxford
We go over average solar pricing in Oxford.
The average cost of a solar system in Oxford is 2.8 per watt. Using this figure, a typical 4.5-kW system would cost about $8,879 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Oxford homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $25,000 on energy bills over 20 years, many homeowners in Oxford find installing solar panels can pay off big.
You can click the button below to get connected with a vetted solar company in Oxford that can help you get a more accurate cost estimate for your home.
Solar savings over time in Oxford
| Year | Return on Investment |
|---|---|
| 1 years | $-7,664 |
| 3 years | $-5,236 |
| 5 years | $-2,807 |
| 7 years | $-378 |
| 9 years | $2,051 |
| 11 years | $4,479 |
| 13 years | $6,908 |
| 15 years | $9,337 |
| 17 years | $11,766 |
| 19 years | $14,195 |
| 21 years | $16,623 |
| 23 years | $19,052 |
| 25 years | $21,481 |
Top Solar Installers in Oxford
When switching to solar energy, many homeowners choose to go with a solar installer since DIY solar panel installation can be a challenging project. The payback period on an investment in solar panels will vary based on factors like your location and energy needs, but going with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our suggestions for providers 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 Oxford
Factors that Affect Solar Panel Costs in Oxford
The cost of installing a solar system in Oxford can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Oxford, 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 determine by looking at past power bills. Your total cost can increase by about $2,800 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Oxford, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Oxford have solar loans, which reduce your upfront costs of installing solar panels. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you select will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $28,003 | 7.6 years |
| 8 kW | $2.86 | $15,994 | $37,651 | 7.5 years |
| 10 kW | $2.80 | $19,600 | $47,456 | 7.3 years |
| 12 kW | $2.74 | $23,050 | $57,418 | 7.2 years |
| 14 kW | $2.69 | $26,342 | $67,536 | 7.0 years |
| 16 kW | $2.63 | $29,478 | $77,812 | 6.9 years |
| 18 kW | $2.58 | $32,458 | $88,244 | 6.7 years |
| 20 kW | $2.52 | $35,280 | $98,833 | 6.6 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Reputation: Companies that have been operating for many years 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 quality aftercare and customer service, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Oxford, CT Solar Cost FAQs
What is the average cost of installing solar panels in Oxford?
This is a hard question to answer precisely, 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Oxford?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.