Solar Panel Cost Guide in Putnam, CT (Oct 2022)

  • Putnam Solar Installation Cost: $9,153
  • 25-Year Savings: $17,866
  • Payback Period: 8.5 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Putnam

We go over average solar pricing in Putnam.

The national average cost of solar panels is $2.66 per watt, but in Putnam it's $3 per watt. The average solar panel system size in Putnam is around 4.7 kilowatts, meaning a cost of about $9,153 for a solar installation, or $6,773 after the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more. But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $22,000 over 20 years on energy bills.

You can click the button below to get connected with a pre-vetted solar company in Putnam that can help you get a more accurate cost estimate for your home.

Solar savings over time in Putnam

Year Return on Investment
1 years $-8,072
3 years $-5,911
5 years $-3,749
7 years $-1,588
9 years $574
11 years $2,735
13 years $4,897
15 years $7,058
17 years $9,220
19 years $11,382
21 years $13,543
23 years $15,705
25 years $17,866

Top Solar Installers in Putnam

Installing solar panels on your own can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. Companies can also have access to various kinds of the best solar panels and help you decide which one will be right for you.

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 in Putnam:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Putnam

Factors that Affect Solar Panel Costs in Putnam

There are a number of criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment Size

The size of the system you need is one of the largest factors that influences the overall cost of going solar. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The brand of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond 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 for a solar system that falls within your budget.

Solar Financing Terms

If paying for a solar system out of pocket is out of reach, solar loans are a popular route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.

Solar Panel Installation Company

The solar installer you choose will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 $22,450 8.8 years
8 kW $2.86 $15,994 $30,247 8.6 years
10 kW $2.80 $19,600 $38,201 8.5 years
12 kW $2.74 $23,050 $46,311 8.3 years
14 kW $2.69 $26,342 $54,579 8.1 years
16 kW $2.63 $29,478 $63,003 8.0 years
18 kW $2.58 $32,458 $71,584 7.8 years
20 kW $2.52 $35,280 $80,322 7.6 years

Solar Incentives in Putnam

Name Sales and Use Tax Exemption for Solar and Geothermal Systems
Incentive Amount 100% exemption
More Info Click here

Name Residential Solar Investment Program
Website Visit here
More Info Click here

Name Connecticut Green Energy Building Solutions
Incentive Amount
Website Visit here
More Info Click here

Name Smart-E loans
Incentive Amount
Website Visit here
More Info Click here

Name Local Option - Property Tax Exemption for Renewable Energy Systems
Incentive Amount Local Option
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Sales and Use Tax Exemption for Energy-Efficient Products
Incentive Amount 100% exemption
More Info Click here

Name Energy Conservation Loan
Website Visit here
More Info Click here

Name The United Illuminating Company - Small ZREC Tariff
Website Visit here
More Info Click here

Name Eversource - Small ZREC Tariff
Website Visit here
More Info Click here

Name (Electric and Gas) Residential Rebate Program
Website Visit here
More Info Click here

Name Local Option - Residential Sustainable Energy Program
Incentive Amount Locally determined
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar installer you go with 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 some important things you should take into account, such as:

  • Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
  • Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
  • Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Putnam, CT Solar Cost FAQs

What is the average cost of installing solar panels in Putnam?

The average cost of solar panels in Putnam is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.

Can you get solar panels for free in Putnam?

A solar panel system isn't free in Putnam, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Does Putnam have a net metering program?

The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage 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 account for 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.

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