Solar Panel Cost Guide in Pemberwick, CT (2023 Update)
- Pemberwick Solar Installation Cost: $8,781
- 25-Year Savings: $18,239
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Pemberwick
Find out what the average cost of solar panel installation is in Pemberwick.
Although the national average of solar panels is $2.66 per watt, solar panels in Pemberwick generally cost around 2.8. Since a 4.5-kW system is needed to cover the energy costs of a typical home in Pemberwick, the average price of going solar will be about $8,781 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you choose, your solar contractor and more. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $23,000 over 20 years on utility bills.
You can click the button below to get connected with a vetted solar installer in Pemberwick for a quote for your home.
Solar savings over time in Pemberwick
| Year | Return on Investment |
|---|---|
| 1 years | $-7,700 |
| 3 years | $-5,538 |
| 5 years | $-3,377 |
| 7 years | $-1,215 |
| 9 years | $946 |
| 11 years | $3,108 |
| 13 years | $5,269 |
| 15 years | $7,431 |
| 17 years | $9,592 |
| 19 years | $11,754 |
| 21 years | $13,916 |
| 23 years | $16,077 |
| 25 years | $18,239 |
Top Solar Installers in Pemberwick
Trying to install solar panels yourself can be a difficult project, which is why getting a solar installation company is a good option for many homeowners. Solar warranties and repairs are typically included in the cost of installation when you go with a solar company as well, which can save you more money after your upfront investment.
You can get a free quote from a local solar installer on how much solar panels could cost 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 Pemberwick
Factors that Affect Solar Panel Costs in Pemberwick
Although the average cost of a solar system in Pemberwick is $8,781, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,800. The model of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Pemberwick have solar loans, which reduce the initial cost of installing solar panels. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can affect how much you pay. Pemberwick's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that offers the products, warranties and services you want and also fits within your budget.
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 | $23,990 | 8.4 years |
| 8 kW | $2.86 | $15,994 | $32,300 | 8.3 years |
| 10 kW | $2.80 | $19,600 | $40,767 | 8.1 years |
| 12 kW | $2.74 | $23,050 | $49,391 | 8.0 years |
| 14 kW | $2.69 | $26,342 | $58,172 | 7.8 years |
| 16 kW | $2.63 | $29,478 | $67,109 | 7.6 years |
| 18 kW | $2.58 | $32,458 | $76,204 | 7.5 years |
| 20 kW | $2.52 | $35,280 | $85,455 | 7.3 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Contract: Before signing a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Installation Process: When making the switch to solar, it's essential to keep an open line of communication with your solar installer. Make sure you understand how the installation process will go and the project completion timeline.
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 Pemberwick, CT Solar Cost FAQs
What is the average cost of installing solar panels in Pemberwick?
This is a hard question to answer precisely, because the cost depends on a variety of 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 other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost 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.
How will having solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Pemberwick is currently $1,120,500, which means you can look forward to a value of about $45,940 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Pemberwick is a fruitful investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.